WGU Global Business Chp 1 Exam | Questions and
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Terms in this set (34)
Globalization To remove barriers in trade, I.T., investment, and
culture.
Emerging Economies Countries that are implementing more open trade
and free-market policies
Multipolar World A world economy in which the engines of growth
are comprised of both industrialized and emerging
economies, such as the United States, European
Union, China, India, Brazil, Russia, and South Africa
rather than the U.S. alone.
International Monetary System The system of exchange rates and international
payments that enables countries and their citizens
to purchase goods and services from one other.
Decoupling A fundamental global shift in which industrialized
country-dependent developing economies begin
to grow based on their own underlying economic
strengths rather than the ups and downs of the
world's richest countries.
, liberalization of the trading system Lowering and/or removing trade barriers such as
tariffs, quotas, and subsidies
Capital Markets A stock exchange where long-term financial
instruments such as stocks and bonds can be
bought and sold.
Economic Reforms Economic policy changes that promote private
sector development, competitive markets, market-
pricing, freer trade, and deregulation.
Institutions The rules, enforcement mechanisms, and
organizations that support market transactions.
Accountability A system of responsibility in which an authority,
such as the government, is answerable for its
actions.
Digital Era The period of transformation that adjusts lifestyles
to make the Internet and wireless technologies a
part of everyday life.
Adaptive Institutions Government organizations that create strong
incentives for private investment and operate
under a system of checks and balances.
Antitrust Laws National laws aimed at maintaining competition in
all sectors of the economy and preventing
monopolistic behavior of firms.
Transparency A system of full disclosure and openness that aims
to avoid any semblance of corruption and
cronyism.
Answers | Verified Solutions | 2026 Edition | Pass
Guaranteed
Save
Terms in this set (34)
Globalization To remove barriers in trade, I.T., investment, and
culture.
Emerging Economies Countries that are implementing more open trade
and free-market policies
Multipolar World A world economy in which the engines of growth
are comprised of both industrialized and emerging
economies, such as the United States, European
Union, China, India, Brazil, Russia, and South Africa
rather than the U.S. alone.
International Monetary System The system of exchange rates and international
payments that enables countries and their citizens
to purchase goods and services from one other.
Decoupling A fundamental global shift in which industrialized
country-dependent developing economies begin
to grow based on their own underlying economic
strengths rather than the ups and downs of the
world's richest countries.
, liberalization of the trading system Lowering and/or removing trade barriers such as
tariffs, quotas, and subsidies
Capital Markets A stock exchange where long-term financial
instruments such as stocks and bonds can be
bought and sold.
Economic Reforms Economic policy changes that promote private
sector development, competitive markets, market-
pricing, freer trade, and deregulation.
Institutions The rules, enforcement mechanisms, and
organizations that support market transactions.
Accountability A system of responsibility in which an authority,
such as the government, is answerable for its
actions.
Digital Era The period of transformation that adjusts lifestyles
to make the Internet and wireless technologies a
part of everyday life.
Adaptive Institutions Government organizations that create strong
incentives for private investment and operate
under a system of checks and balances.
Antitrust Laws National laws aimed at maintaining competition in
all sectors of the economy and preventing
monopolistic behavior of firms.
Transparency A system of full disclosure and openness that aims
to avoid any semblance of corruption and
cronyism.
