WGU C211 GLOBAL ECONOMICS FOR
MANAGERS 202 COMPREHENSIVE COURSE
REVIEW
◉ BRICA.
Answer: Brazil, Russia, India, and China.
◉ Emerging economies.
Answer: term that has gradually replaced the term "developing
countries" since the 1990s.
◉ Emerging markets.
Answer: A term that is often used interchangeably with "emerging
economies."
◉ Expatriate manager.
Answer: A manager who works abroad, or "expat" for short.
◉ Foreign direct investment (FDI).
Answer: Investment in, controlling, and managing value-added
activities in other countries.
,◉ Global Business.
Answer: Business around the globe.
◉ Globalization.
Answer: The close integration of countries and peoples of the world.
◉ Gross domestic product (GDP).
Answer: The sum of value added by resident firms, households, and
governments operating in an economy.
◉ Gross national income (GNI).
Answer: GDP plus income from non-resident sources abroad. The
term used by the World Bank and other international organizations
to supersede the term GNP.
◉ Gross national product (GNP).
Answer: GDP plus income from non-resident sources abroad
◉ Group of 20 (G-20).
Answer: The group of 19 major countries plus the European Union
(EU) whose leaders meet on a biannual basis to solve global
economic problems.
,◉ International business (IB).
Answer: (1) A business (or firm) that engages in international
(cross-border) economic activities and/or (2) the action of doing
business abroad.
◉ International premium.
Answer: A significant pay raise when working overseas.
◉ Liability of foreignness.
Answer: The inherent disadvantage that foreign firms experience in
host countries because of their non-native status.
◉ Multinational enterprise (MNE).
Answer: A firm that engages in foreign direct investment (FDI).
◉ Nongovernmental organization (NGO).
Answer: An organization that is not affiliated with governments.
◉ Purchasing power parity (PPP).
Answer: A conversion that determines the equivalent amount of
goods and services that different currencies can purchase.
◉ Reverse innovation.
, Answer: An innovation that is adopted first in emerging economies
and is then diffused around the world.
◉ Risk management.
Answer: The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
◉ Scenario planning.
Answer: A technique to prepare and plan for multiple scenarios
(either high or low risk).
◉ Semiglobalization.
Answer: A perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate
countries from each other completely.
◉ Triad.
Answer: North America, Western Europe, and Japan.
◉ Purchasing power parity (PPP).
Answer: adjustment made to the GDP to reflect differences in the
cost of living
MANAGERS 202 COMPREHENSIVE COURSE
REVIEW
◉ BRICA.
Answer: Brazil, Russia, India, and China.
◉ Emerging economies.
Answer: term that has gradually replaced the term "developing
countries" since the 1990s.
◉ Emerging markets.
Answer: A term that is often used interchangeably with "emerging
economies."
◉ Expatriate manager.
Answer: A manager who works abroad, or "expat" for short.
◉ Foreign direct investment (FDI).
Answer: Investment in, controlling, and managing value-added
activities in other countries.
,◉ Global Business.
Answer: Business around the globe.
◉ Globalization.
Answer: The close integration of countries and peoples of the world.
◉ Gross domestic product (GDP).
Answer: The sum of value added by resident firms, households, and
governments operating in an economy.
◉ Gross national income (GNI).
Answer: GDP plus income from non-resident sources abroad. The
term used by the World Bank and other international organizations
to supersede the term GNP.
◉ Gross national product (GNP).
Answer: GDP plus income from non-resident sources abroad
◉ Group of 20 (G-20).
Answer: The group of 19 major countries plus the European Union
(EU) whose leaders meet on a biannual basis to solve global
economic problems.
,◉ International business (IB).
Answer: (1) A business (or firm) that engages in international
(cross-border) economic activities and/or (2) the action of doing
business abroad.
◉ International premium.
Answer: A significant pay raise when working overseas.
◉ Liability of foreignness.
Answer: The inherent disadvantage that foreign firms experience in
host countries because of their non-native status.
◉ Multinational enterprise (MNE).
Answer: A firm that engages in foreign direct investment (FDI).
◉ Nongovernmental organization (NGO).
Answer: An organization that is not affiliated with governments.
◉ Purchasing power parity (PPP).
Answer: A conversion that determines the equivalent amount of
goods and services that different currencies can purchase.
◉ Reverse innovation.
, Answer: An innovation that is adopted first in emerging economies
and is then diffused around the world.
◉ Risk management.
Answer: The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
◉ Scenario planning.
Answer: A technique to prepare and plan for multiple scenarios
(either high or low risk).
◉ Semiglobalization.
Answer: A perspective that suggests that barriers to market
integration at borders are high, but not high enough to insulate
countries from each other completely.
◉ Triad.
Answer: North America, Western Europe, and Japan.
◉ Purchasing power parity (PPP).
Answer: adjustment made to the GDP to reflect differences in the
cost of living
