WGU D080
Globalization - ANS-Worldwide interconnections in virtually every sphere of activity
including the spread of products, technology, information, and job opportunities.
Globalization can result in blurred boundaries between nations, organizations, and
investors
trade - ANS-The action of buying and selling goods and services
capital - ANS-Financial assets such as funds but also equipment, facilities, and other
means of production
outsource - ANS-To obtain goods or services from an outside or foreign supplier
nongovernmental organizations (NGOs) - ANS-Not for profit organizations that are
independent of the government and are active in humanitarian causes
Which type of globalization refers to the international movement of goods, capital, and
services? - ANS-Economic
patents - ANS-Protects inventions and improvements to existing inventions for a limited
period of time in exchange for detailed public disclosure of those inventions
copyrights - ANS-A government authority or license giving the owner of an invention the
right to exclude others from making or selling the invention for a set period of time
trademarks - ANS-Protection for any word, name, symbol, device, or any combination
used in commerce to identify and distinguish the goods of one manufacturer or seller
from goods manufactured or sold by others
assets - ANS-A useful or valuable thing; something you own such as building, inventory,
or cash
liabilities - ANS-Being responsible for a debt or financial obligation, something you owe
financial instrument - ANS-A monetary contract between parties
,multinational firms - ANS-A large corporation incorporated in one country which
produces or sells goods or services in various countries
The 5 Stages of going Global - ANS-Stage 1 ~ Market Entry
Stage 2 ~ Product Specialization
Stage 3 ~ Value Chain Disaggregation
Stage 4 ~ Value Chain Reengineering
Stage 5 ~ Creation of New Markets
Economies of scale - ANS-A proportionate savings in costs gained by an increased
level of production
Economies of scope - ANS-To develop efficiencies in terms of variety not volume
A CEO seeks to better use the economies of scale and scope of production to increase
the international company's profits.
Which type of globalization driver is the CEO seeking to use? - ANS-Cost
A CEO seeks to better use the economies of scale and scope of production to increase
the international company's profits.
Which type of globalization driver is the CEO seeking to use? - ANS-Cost
A CEO is discussing an expansion of production of a company's highly perishable dairy
line in a country that can offer low labor costs and good internet connections. The
country has no highways, and roads are poorly maintained.
Which challenge to international business expansion do the road conditions present? -
ANS-Infrastructure
Six Sigma - ANS-A method that provides tools for organizations to increase
performance and decrease process variation
Which factor of CAGE addresses differences in country size that affect barriers to
globalization? - ANS-Economics
Gini coefficient - ANS-Measures the inequality among values of a frequency distribution
such as levels of income
Happy Planet Index - ANS-Measures how well nations are doing at achieving long,
happy, sustainable lives
, Which argument is used by critics who wish to discourage movement towards
globalization? - ANS-It increases the wealth of the rich rather than the poor.
gross domestic product (GDP) - ANS-The total value of goods and services provided in
a country in a one-year period
gross national product (GNP) - ANS-The total value of goods and services provided by
a country, both inside and outside of its borders, in a one-year period
Which type of economy is decentralized and allows firms and households to participate
in global trade with minimum governmental interference? - ANS-Market
Which type of legal system is based on a code and focuses on how the law is applied to
the facts? - ANS-Civil
Which law is based on tradition and precedent given that judicial rulings can stand as
precedents for future cases? - ANS-Common
Which legal system can vary from community to community and is found in countries
without strong formal justice systems? - ANS-Customary
In which legal system does a judge decide the applicable law for the case as a jury
determines the facts? - ANS-Common
Common law - ANS-Based on precedence. Any activity that is not clearly illegal may be
acceptable. The role of the judge is to hear arguments from both parties and make a
judgment. This judgment stands as precedent for future cases.
Religious law - ANS-based on religious beliefs. One example is a requirement in Sharia
that people following Sharia may not borrow money. To compensate for the inability to
take on debt, an asset-based system has been established.
balance of payments - ANS-The difference in total value between payments into and out
of the country over a period of time
fixed-rate currency exchange system - ANS-When a country's currency value is fixed or
pegged by a monetary authority against the value of another currency, a basket of
currencies, or another measure of value
Globalization - ANS-Worldwide interconnections in virtually every sphere of activity
including the spread of products, technology, information, and job opportunities.
Globalization can result in blurred boundaries between nations, organizations, and
investors
trade - ANS-The action of buying and selling goods and services
capital - ANS-Financial assets such as funds but also equipment, facilities, and other
means of production
outsource - ANS-To obtain goods or services from an outside or foreign supplier
nongovernmental organizations (NGOs) - ANS-Not for profit organizations that are
independent of the government and are active in humanitarian causes
Which type of globalization refers to the international movement of goods, capital, and
services? - ANS-Economic
patents - ANS-Protects inventions and improvements to existing inventions for a limited
period of time in exchange for detailed public disclosure of those inventions
copyrights - ANS-A government authority or license giving the owner of an invention the
right to exclude others from making or selling the invention for a set period of time
trademarks - ANS-Protection for any word, name, symbol, device, or any combination
used in commerce to identify and distinguish the goods of one manufacturer or seller
from goods manufactured or sold by others
assets - ANS-A useful or valuable thing; something you own such as building, inventory,
or cash
liabilities - ANS-Being responsible for a debt or financial obligation, something you owe
financial instrument - ANS-A monetary contract between parties
,multinational firms - ANS-A large corporation incorporated in one country which
produces or sells goods or services in various countries
The 5 Stages of going Global - ANS-Stage 1 ~ Market Entry
Stage 2 ~ Product Specialization
Stage 3 ~ Value Chain Disaggregation
Stage 4 ~ Value Chain Reengineering
Stage 5 ~ Creation of New Markets
Economies of scale - ANS-A proportionate savings in costs gained by an increased
level of production
Economies of scope - ANS-To develop efficiencies in terms of variety not volume
A CEO seeks to better use the economies of scale and scope of production to increase
the international company's profits.
Which type of globalization driver is the CEO seeking to use? - ANS-Cost
A CEO seeks to better use the economies of scale and scope of production to increase
the international company's profits.
Which type of globalization driver is the CEO seeking to use? - ANS-Cost
A CEO is discussing an expansion of production of a company's highly perishable dairy
line in a country that can offer low labor costs and good internet connections. The
country has no highways, and roads are poorly maintained.
Which challenge to international business expansion do the road conditions present? -
ANS-Infrastructure
Six Sigma - ANS-A method that provides tools for organizations to increase
performance and decrease process variation
Which factor of CAGE addresses differences in country size that affect barriers to
globalization? - ANS-Economics
Gini coefficient - ANS-Measures the inequality among values of a frequency distribution
such as levels of income
Happy Planet Index - ANS-Measures how well nations are doing at achieving long,
happy, sustainable lives
, Which argument is used by critics who wish to discourage movement towards
globalization? - ANS-It increases the wealth of the rich rather than the poor.
gross domestic product (GDP) - ANS-The total value of goods and services provided in
a country in a one-year period
gross national product (GNP) - ANS-The total value of goods and services provided by
a country, both inside and outside of its borders, in a one-year period
Which type of economy is decentralized and allows firms and households to participate
in global trade with minimum governmental interference? - ANS-Market
Which type of legal system is based on a code and focuses on how the law is applied to
the facts? - ANS-Civil
Which law is based on tradition and precedent given that judicial rulings can stand as
precedents for future cases? - ANS-Common
Which legal system can vary from community to community and is found in countries
without strong formal justice systems? - ANS-Customary
In which legal system does a judge decide the applicable law for the case as a jury
determines the facts? - ANS-Common
Common law - ANS-Based on precedence. Any activity that is not clearly illegal may be
acceptable. The role of the judge is to hear arguments from both parties and make a
judgment. This judgment stands as precedent for future cases.
Religious law - ANS-based on religious beliefs. One example is a requirement in Sharia
that people following Sharia may not borrow money. To compensate for the inability to
take on debt, an asset-based system has been established.
balance of payments - ANS-The difference in total value between payments into and out
of the country over a period of time
fixed-rate currency exchange system - ANS-When a country's currency value is fixed or
pegged by a monetary authority against the value of another currency, a basket of
currencies, or another measure of value
