WGU GLOBAL BUSINESS
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,Question 1
5 Characteristics of globalization
Correct Answer
1. Remove trade barriers (economic)
2. Culture (social)
3. IT (social)
4. Investment (economic)
5. Political system (political)
Question 2
Benefits of globalization
Correct Answer
-sharing resources
-more choices for consumers
-creates jobs in developing countries
-raises living standards
Question 3
International Monetary Fund (IMF)
Correct Answer
Focuses on transactions
Determines exchange rates
provides short term emergency loans/funding
promotes monetary policies in countries
Question 4
World Bank
Correct Answer
-long-term loans to countries for economic development, trade promotion, and debt consolidation.
-helps develop partnerships
Question 5
World Trade Organization (WTO)
Correct Answer
-promotes international trade
-settles international trade disputes
-tariff negotiations
-provides technical assistance to emerging countries
Trusted by thousands of students and professionals worldwide Page 2 of 21
, Question 6
Global Digital Divide
Correct Answer
the gap in access to information and communication technologies between the wealthy and poor regions of the
world
Question 7
Mercantilism
Correct Answer
An economic policy under which nations seek to increase their wealth and power by exporting more than importing
Question 8
absolute advantage
Correct Answer
the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the
same amount of resources
Question 9
comparative advantage
Correct Answer
the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than
competitors
Question 10
H-O Theorem
Correct Answer
a nation will EXPORT goods whose production requires intensive use of the nations relatively abundant and cheap
factor; and IMPORT the goods who's production requires intensive use of the national relative scarce and expensive
factor
Question 11
Factor Price Equalization
Correct Answer
Prices of factors of productions (such as wages) will eventually equalize across different countries as a result of
international trade.
Trusted by thousands of students and professionals worldwide Page 3 of 21
130+ (Latest 2025-2026 Edition) 100%
Verified Q&A + Answer Key Solutions
100% Guarantee Pass
✓ This Exam contains: WGU Global Business
✓ 100% Accurate Questions and Answers
✓ 100% Guarantee Pass - Verified by Experts
✓ Each Question Includes The Correct Answer
✓ Expert-Verified
Trusted by thousands of students and professionals worldwide Page 1 of 21
,Question 1
5 Characteristics of globalization
Correct Answer
1. Remove trade barriers (economic)
2. Culture (social)
3. IT (social)
4. Investment (economic)
5. Political system (political)
Question 2
Benefits of globalization
Correct Answer
-sharing resources
-more choices for consumers
-creates jobs in developing countries
-raises living standards
Question 3
International Monetary Fund (IMF)
Correct Answer
Focuses on transactions
Determines exchange rates
provides short term emergency loans/funding
promotes monetary policies in countries
Question 4
World Bank
Correct Answer
-long-term loans to countries for economic development, trade promotion, and debt consolidation.
-helps develop partnerships
Question 5
World Trade Organization (WTO)
Correct Answer
-promotes international trade
-settles international trade disputes
-tariff negotiations
-provides technical assistance to emerging countries
Trusted by thousands of students and professionals worldwide Page 2 of 21
, Question 6
Global Digital Divide
Correct Answer
the gap in access to information and communication technologies between the wealthy and poor regions of the
world
Question 7
Mercantilism
Correct Answer
An economic policy under which nations seek to increase their wealth and power by exporting more than importing
Question 8
absolute advantage
Correct Answer
the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the
same amount of resources
Question 9
comparative advantage
Correct Answer
the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than
competitors
Question 10
H-O Theorem
Correct Answer
a nation will EXPORT goods whose production requires intensive use of the nations relatively abundant and cheap
factor; and IMPORT the goods who's production requires intensive use of the national relative scarce and expensive
factor
Question 11
Factor Price Equalization
Correct Answer
Prices of factors of productions (such as wages) will eventually equalize across different countries as a result of
international trade.
Trusted by thousands of students and professionals worldwide Page 3 of 21
