INTERNATIONAL BUSINESS THE
CHALLENGES OF GLOBALIZATION
ACTUAL TEST BANK TESTED QUESTIONS
WITH VERIFIED SOLUTIONS
●● What are imports?
Answer: Goods and services purchased abroad and brought into a
country.
●● What are exports?
Answer: Goods and services sold abroad and sent out of a country.
●● What is globalization?
Answer: The trend toward greater economic, cultural, political, and
technological interdependence among national institutions and
economies.
●● What is the difference between globalization and
internationalization?
Answer: Globalization is characterized by denationalization, while
internationalization refers to the process of increasing involvement of
enterprises in international markets.
,●● What is a multinational corporation (MNC)?
Answer: A business that has direct investments abroad in multiple
countries.
●● What is foreign direct investment (FDI)?
Answer: The purchase of physical assets or a significant amount of
ownership in another country to gain a measure of management control.
●● What is a born global firm?
Answer: A company with a global perspective that engages in
international business from inception and quickly achieves a competitive
advantage.
●● Name an example of a born global firm.
Answer: Airbnb, Uber, Spotify, or TikTok.
●● What are the main challenges of globalization?
Answer: Rising nationalism and trade wars.
●● What is gross domestic product (GDP)?
Answer: The value of all goods and services produced by a domestic
economy during a one-year period.
, ●● What is gross national product (GNP)?
Answer: The value of all goods and services produced by a country's
domestic and international activities during a one-year period.
●● What characterizes the first age of globalization?
Answer: Labor was highly mobile, trade and capital flowed relatively
freely, and countries traded about 10% of their total annual output.
●● What significant event marked the end of the first age of
globalization?
Answer: The start of the First World War.
●● What characterized the second age of globalization?
Answer: The fall of the Berlin Wall, advances in technology, and the
growth of regional economic blocs.
●● What is globalization of markets?
Answer: The convergence in buyer preferences in markets around the
world.
●● What are the benefits of globalization of markets?
Answer: Reduces marketing costs, creates new market opportunities,
and levels uneven income streams.
CHALLENGES OF GLOBALIZATION
ACTUAL TEST BANK TESTED QUESTIONS
WITH VERIFIED SOLUTIONS
●● What are imports?
Answer: Goods and services purchased abroad and brought into a
country.
●● What are exports?
Answer: Goods and services sold abroad and sent out of a country.
●● What is globalization?
Answer: The trend toward greater economic, cultural, political, and
technological interdependence among national institutions and
economies.
●● What is the difference between globalization and
internationalization?
Answer: Globalization is characterized by denationalization, while
internationalization refers to the process of increasing involvement of
enterprises in international markets.
,●● What is a multinational corporation (MNC)?
Answer: A business that has direct investments abroad in multiple
countries.
●● What is foreign direct investment (FDI)?
Answer: The purchase of physical assets or a significant amount of
ownership in another country to gain a measure of management control.
●● What is a born global firm?
Answer: A company with a global perspective that engages in
international business from inception and quickly achieves a competitive
advantage.
●● Name an example of a born global firm.
Answer: Airbnb, Uber, Spotify, or TikTok.
●● What are the main challenges of globalization?
Answer: Rising nationalism and trade wars.
●● What is gross domestic product (GDP)?
Answer: The value of all goods and services produced by a domestic
economy during a one-year period.
, ●● What is gross national product (GNP)?
Answer: The value of all goods and services produced by a country's
domestic and international activities during a one-year period.
●● What characterizes the first age of globalization?
Answer: Labor was highly mobile, trade and capital flowed relatively
freely, and countries traded about 10% of their total annual output.
●● What significant event marked the end of the first age of
globalization?
Answer: The start of the First World War.
●● What characterized the second age of globalization?
Answer: The fall of the Berlin Wall, advances in technology, and the
growth of regional economic blocs.
●● What is globalization of markets?
Answer: The convergence in buyer preferences in markets around the
world.
●● What are the benefits of globalization of markets?
Answer: Reduces marketing costs, creates new market opportunities,
and levels uneven income streams.
