INTERNATIONAL BUSINESS FINAL
EXAM | QUESTIONS & ANSWERS
(VERIFIED) | LATEST UPDATE |
GRADED A+
Define Globalization
Correct Answer: A trend towards greater economical, cultural, political and
technological interdependence.
PR
What happens when denationalization occurs?
Correct Answer: National boundaries become less important.
O
FD
What is the difference between denationalization and internationalization?
Correct Answer: The nature of interdependent relations. Denationalization =
outgrowing national borders. They cooperate for their well being. Internationalization =
O
source of interdependence comes from pressure.
C
What is meant by the Globalization of Markets?
Correct Answer: The convergence of buyer preferences, emergences of global
producers, new market opportunities.
Globalization of Markets helps in...
Correct Answer: Marketing and Production
1
,What is the Globalization of Production?
Correct Answer: Producing at locations where it is low cost of quality maximizing.
(Access to low cost workers, access expertise)
Globalization of production efficiency lowers...
Correct Answer: Costs of production
PR
Name 3 factors causing Globalization.
Correct Answer: (1) Falling barriers to investment and trade
(2) Technological innovations
O
(3) Increase in Global Competition
FD
What is the WTO?
Correct Answer: A contract between member nations to maintain fair and open trade
O
policies.
C
What are the 3 goals of the WTO?
Correct Answer: (1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation
2
,Correct Answer: (1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
Globalization impacts countries through....(5)
Correct Answer: (1) Jobs and Wages
(2) Income inequality
PR
(3) Labor and environment
(4) National sovereignty
(5) Culture
O
FD
3 points to support "Globalization costs Jobs and lowers wages"
Correct Answer: (1) Eliminates Jobs in developed nations
(2) Wages lower in developed nations
O
(3) Exploits workers in developing nations
C
3 points to support "Globalization creates jobs and boosts wages"
Correct Answer: (1) Increases wealth and efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization.
3
, Correct Answer: (1) Inequality within nations
(2) between nations
(3) Global inequality
Name 2 key players in International Business
Correct Answer: International corporations, entrepreneurs and small businesses
Multinational corporations are important in Globalization because...
PR
Correct Answer: They employ many people
Entrepreneurs are important in Globalization because...
O
Correct Answer: They are more active in international business (because of
FD
technology)
What is culture?
O
Correct Answer: Backgrounds, assumptions, expectation, ways of communication,
values beliefs, rules.
C
Define ethnocentricity.
Correct Answer: The belief that one's culture is superior to anothers.
Define Cultural Literacy.
4
EXAM | QUESTIONS & ANSWERS
(VERIFIED) | LATEST UPDATE |
GRADED A+
Define Globalization
Correct Answer: A trend towards greater economical, cultural, political and
technological interdependence.
PR
What happens when denationalization occurs?
Correct Answer: National boundaries become less important.
O
FD
What is the difference between denationalization and internationalization?
Correct Answer: The nature of interdependent relations. Denationalization =
outgrowing national borders. They cooperate for their well being. Internationalization =
O
source of interdependence comes from pressure.
C
What is meant by the Globalization of Markets?
Correct Answer: The convergence of buyer preferences, emergences of global
producers, new market opportunities.
Globalization of Markets helps in...
Correct Answer: Marketing and Production
1
,What is the Globalization of Production?
Correct Answer: Producing at locations where it is low cost of quality maximizing.
(Access to low cost workers, access expertise)
Globalization of production efficiency lowers...
Correct Answer: Costs of production
PR
Name 3 factors causing Globalization.
Correct Answer: (1) Falling barriers to investment and trade
(2) Technological innovations
O
(3) Increase in Global Competition
FD
What is the WTO?
Correct Answer: A contract between member nations to maintain fair and open trade
O
policies.
C
What are the 3 goals of the WTO?
Correct Answer: (1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation
2
,Correct Answer: (1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
Globalization impacts countries through....(5)
Correct Answer: (1) Jobs and Wages
(2) Income inequality
PR
(3) Labor and environment
(4) National sovereignty
(5) Culture
O
FD
3 points to support "Globalization costs Jobs and lowers wages"
Correct Answer: (1) Eliminates Jobs in developed nations
(2) Wages lower in developed nations
O
(3) Exploits workers in developing nations
C
3 points to support "Globalization creates jobs and boosts wages"
Correct Answer: (1) Increases wealth and efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization.
3
, Correct Answer: (1) Inequality within nations
(2) between nations
(3) Global inequality
Name 2 key players in International Business
Correct Answer: International corporations, entrepreneurs and small businesses
Multinational corporations are important in Globalization because...
PR
Correct Answer: They employ many people
Entrepreneurs are important in Globalization because...
O
Correct Answer: They are more active in international business (because of
FD
technology)
What is culture?
O
Correct Answer: Backgrounds, assumptions, expectation, ways of communication,
values beliefs, rules.
C
Define ethnocentricity.
Correct Answer: The belief that one's culture is superior to anothers.
Define Cultural Literacy.
4
