Exam (elaborations)
WGU C211 Global Economics for Managers (OA) Exam Questions And Answers
- Course
- Institution
WGU C211 Global Economics for Managers (OA) Exam Questions And Answers
[Show more]
Content preview
WGU C211 Global Economics for Managers (OA) ExamQuestions And Answers
***How are supply and demand related to the exchange rate of a country?*** -
The price of a commodity, a country's currency, is fundamentally determined by
this. Strong demand leads to price hikes; oversupply results in price drops.
***What advantages exist with First-mover?*** - 1. Proprietary, technological
leadership
2. Pre-emption of scarce resources
3. Establishment of entry barriers for late entrants
4. Avoidance of clash with dominant firms at home
5. Relationships with key stakeholders such as governments
***How is global business affected by democracy?*** - An individual's right to
freedom of expression and organization. For example, starting up a firm is an act
of economic expression
***How is global business affected by totalitarianism?*** - These countries often
experience wars, riots, protests, chaos, & breakdowns, which result in higher
political risk.
***Democracy*** - Citizens elect representatives to govern the country on their
behalf.
Right to freedom of expression and organization.
***Totalitarianism*** - One person or party exercises absolute political control
over the population.
***What Political views exist on Foreign Direct Investment (FDI)*** - ***answer
includes radicalism***
Radical View - Hostile to foreign direct investment (FD)
, Free Market View - Suggests foreign direct investment (FDI) unrestricted by
government intervention is the best.
Pragmatic Nationalism - Only approves foreign direct investment (FDI) when its
benefits outweigh its costs.
***What is Resource similarity*** - The extent to which a given competitor
possesses strategic endowment comparable, in terms of both type & amount, to
those of the focal firm.
***What is Property right?*** - The legal rights to use an economic resource & to
derive income & benefits from it.
***Intellectual property is a right of?*** - right of ownership/right to derive
income from it
***Market economy*** - Characterized by the "invisible hand" of market forces-
all factors of production should be privately owned.
***Command economy*** - Defined by a government taking all factors of
production to be government-owned or state-owned, & all supply, demand, &
pricing are planned by the government.
***Mixed economy*** - An economy that has elements of both a market economy
& a command economy.
It boils down to the relative distribution of market forces versus command
forces.
***What is an Indifference curve used for*** - A curve that shows consumption
bundles that give the consumer the same level of satisfaction
(i.e. combinations of pizza & Pepsi with which the consumer is equally satisfied.)
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller chareiezekiel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $29.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
70055 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now