WGU C211 Study Guide based off Pre-Assessment.pdf file:///C:/Users/HP/Desktop/NIW/WGU%20C211%20Study%20Gu
WGU C211 Study Guide based off Pre-Assessment
1. One view of globalization claims that human civilization has always had some type
of globalization. Which view is it?
ANS The long-run historical view
2. The Pendulum View
ANS A process that swings back and forth, driven by political, economic, and social factors.
3. Business over culture view
ANS Argues that globalization is primarily driven by multinational corporations and profit
maximation.
4. Unique Rule View
ANS Globalizations if governed by unique rules
5. The benefit attributed to firms that enter a market before other firms in the same
market segment is best described by which term?
ANS First-Mover advantage
- refers to competitive edge by introducing a product into the market before competi- tors
6. Trade Advantage
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,WGU C211 Study Guide based off Pre-Assessment.pdf file:///C:/Users/HP/Desktop/NIW/WGU%20C211%20Study%20Gu
ANS a country or firm having an advantageous position in interna- tional trade
7. Absolute Advantage
ANS a situation where a country can produce a good or service at a lower cost than other
countries.
8. Scale Advantage
ANS Benefits gained from operating on a large scale, such as economics of scale or the
ability to negotiate better prices with suppliers
9. What is opportunity cost?
ANS the loss of potential gain from other alternatives when one alternative is chosen.
10. What is one of the OLI advantages outlines by John Dunning for why firms become
multinational enterprises by engaging in foreign direct investment?-
ANS Internalization advantages - benefits of a firm internalizing its activities within its
boundaries rather than relying on external markets.
11. Litigation Advantages
ANS These advantages arise due to the multinational firms ability to access legal systems and
protect their rights in foreign markets.
12. International Competition Advantages
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,WGU C211 Study Guide based off Pre-Assessment.pdf file:///C:/Users/HP/Desktop/NIW/WGU%20C211%20Study%20Gu
ANS Advantages come from from economies of scale, access to larger markets, cost
efficiencies, and improved distribution networks.
13. Online business advantages
ANS - easy and instantaneous connection with cus- tomers, suppliers and other stakeholders
- can operate 24/7
- easily accessible
14. OLI by John Dunning
ANS Ownership, Location, and Internalization - advantages framework as a way to explain why
firms choose to engage in foreign direct invest- ment (FDI)
15. In which situation is the dodger strategy appropriate for responding to MNEs?
ANS There is high industry pressure to globalize, and competitive assets are customized to
home markets.
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