WGU C211 Global Economics for Managers
questions and answers 2025/2026 update|
100% passing guarantee
1. Base of the pyramid (BOP)
- ✔✔ANSWER Economies where people make less than $2,000 per capita per
year.
2. BRICA
- ✔✔ANSWER Brazil, Russia, India, and China.
3. Emerging economies
- ✔✔ANSWER term that has gradually replaced the term "developing countries"
since the 1990s.
4. Emerging markets
- ✔✔ANSWER A term that is often used interchangeably with "emerging
economies."
5. Expatriate manager
- ✔✔ANSWER A manager who works abroad, or "expat" for short.
6. Foreign direct investment (FDI)
- ✔✔ANSWER Investment in, controlling, and managing val- ue-added activities in
other countries.
,7. Global Business
- ✔✔ANSWER Business around the globe.
8. Globalization
- ✔✔ANSWER The close integration of countries and peoples of the world.
9. Gross domestic product (GDP)
- ✔✔ANSWER The sum of value added by resident firms, households, and
governments operating in an economy.
10. 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.
11. Gross national product (GNP)
- ✔✔ANSWER GDP plus income from non-resident sources abroad
12. 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.
13. International business (IB)
- ✔✔ANSWER (1) A business (or firm) that engages in internation- al (cross-border)
economic activities and/or (2) the action of doing business abroad.
,14. International premium
- ✔✔ANSWER A significant pay raise when working overseas.
15. Liability of foreignness
- ✔✔ANSWER The inherent disadvantage that foreign firms experi- ence in host
countries because of their non-native status.
16. Multinational enterprise (MNE)
- ✔✔ANSWER A firm that engages in foreign direct invest- ment (FDI).
17. Nongovernmental organization (NGO)
- ✔✔ANSWER An organization that is not affiliated with governments.
18. Purchasing power parity (PPP)
- ✔✔ANSWER A conversion that determines the equivalent amount of goods and
services that different currencies can purchase.
19. Reverse innovation
- ✔✔ANSWER An innovation that is adopted first in emerging economies and is then
diffused around the world.
20. Risk management
- ✔✔ANSWER The identification and assessment of risks and the prepa- ration to
minimize the impact of high-risk, unfortunate events.
21. Scenario planning
,- ✔✔ANSWER A technique to prepare and plan for multiple scenarios (either
high or low risk).
,22. Semiglobalization
- ✔✔ANSWER A perspective that suggests that barriers to market integra- tion at
borders are high, but not high enough to insulate countries from each other
completely.
23. Triad
- ✔✔ANSWER North America, Western Europe, and Japan.
24. Purchasing power parity (PPP)
- ✔✔ANSWER adjustment made to the GDP to reflect differ- ences in the cost of
living
25. The bottom billion
- ✔✔ANSWER Concentrated in Africa and Central Asia - 58 small coun- tries,
stuck at the bottom in terms of growth, incomes and human development
26. Enhance employability & advance career, better preparation to be expat,
competence in interacting with foreign suppliers/partners/competitors/em-
ployees
- ✔✔ANSWER Why study global business?
27. Institution-based view
- ✔✔ANSWER A core perspective. Success and failure of firms are constrained
by institutions
,28. Formal rules
- ✔✔ANSWER requirements that treat domestic and foreign firms as equals
enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would
undermine the chances for foreign entrants
29. Informal rules
- ✔✔ANSWER cultures, ethics, and norms play an important part in shaping the
success and failure of firms around the globe
30. Resource-based view
- ✔✔ANSWER A core perspective. Success and failure of firms is determined
by their environment
31. New force in recent times, a long-running historical evolution, a pendulum
swinging between extremes
- ✔✔ANSWER What are the three views of globalization?
32. "Four Tigers"
- ✔✔ANSWER Hong Kong, Singapore, South Korea and Taiwan
33. Absolute advantage
- ✔✔ANSWER The economic advantage one nation enjoys that is ab- solutely
superior to other nations.
, 34. Administrative policy
- ✔✔ANSWER Bureaucratic rules that make it harder to import foreign goods.
35. antidumping duty
- ✔✔ANSWER Tariffs levied on imports that have been "dumped" (selling below
costs to "unfairly" drive domestic firms out of business).
36. Balance of Trade
- ✔✔ANSWER The aggregation of importing and exporting that leads to the country-
level trade surplus or deficit.
37. Classical trade theories
- ✔✔ANSWER The major theories of international trade that were advanced
before the 20th century, which consist of (1) mercantilism, (2) absolute
advantage, and (3) comparative advantage.
38. Comparative advantage
- ✔✔ANSWER Relative (not absolute) advantage in one economic activity that one
nation enjoys in comparison with other nations.
39. Deadweight cost
- ✔✔ANSWER Net losses that occur in an economy as a result of tariffs.
40. Export
- ✔✔ANSWER Selling abroad.
questions and answers 2025/2026 update|
100% passing guarantee
1. Base of the pyramid (BOP)
- ✔✔ANSWER Economies where people make less than $2,000 per capita per
year.
2. BRICA
- ✔✔ANSWER Brazil, Russia, India, and China.
3. Emerging economies
- ✔✔ANSWER term that has gradually replaced the term "developing countries"
since the 1990s.
4. Emerging markets
- ✔✔ANSWER A term that is often used interchangeably with "emerging
economies."
5. Expatriate manager
- ✔✔ANSWER A manager who works abroad, or "expat" for short.
6. Foreign direct investment (FDI)
- ✔✔ANSWER Investment in, controlling, and managing val- ue-added activities in
other countries.
,7. Global Business
- ✔✔ANSWER Business around the globe.
8. Globalization
- ✔✔ANSWER The close integration of countries and peoples of the world.
9. Gross domestic product (GDP)
- ✔✔ANSWER The sum of value added by resident firms, households, and
governments operating in an economy.
10. 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.
11. Gross national product (GNP)
- ✔✔ANSWER GDP plus income from non-resident sources abroad
12. 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.
13. International business (IB)
- ✔✔ANSWER (1) A business (or firm) that engages in internation- al (cross-border)
economic activities and/or (2) the action of doing business abroad.
,14. International premium
- ✔✔ANSWER A significant pay raise when working overseas.
15. Liability of foreignness
- ✔✔ANSWER The inherent disadvantage that foreign firms experi- ence in host
countries because of their non-native status.
16. Multinational enterprise (MNE)
- ✔✔ANSWER A firm that engages in foreign direct invest- ment (FDI).
17. Nongovernmental organization (NGO)
- ✔✔ANSWER An organization that is not affiliated with governments.
18. Purchasing power parity (PPP)
- ✔✔ANSWER A conversion that determines the equivalent amount of goods and
services that different currencies can purchase.
19. Reverse innovation
- ✔✔ANSWER An innovation that is adopted first in emerging economies and is then
diffused around the world.
20. Risk management
- ✔✔ANSWER The identification and assessment of risks and the prepa- ration to
minimize the impact of high-risk, unfortunate events.
21. Scenario planning
,- ✔✔ANSWER A technique to prepare and plan for multiple scenarios (either
high or low risk).
,22. Semiglobalization
- ✔✔ANSWER A perspective that suggests that barriers to market integra- tion at
borders are high, but not high enough to insulate countries from each other
completely.
23. Triad
- ✔✔ANSWER North America, Western Europe, and Japan.
24. Purchasing power parity (PPP)
- ✔✔ANSWER adjustment made to the GDP to reflect differ- ences in the cost of
living
25. The bottom billion
- ✔✔ANSWER Concentrated in Africa and Central Asia - 58 small coun- tries,
stuck at the bottom in terms of growth, incomes and human development
26. Enhance employability & advance career, better preparation to be expat,
competence in interacting with foreign suppliers/partners/competitors/em-
ployees
- ✔✔ANSWER Why study global business?
27. Institution-based view
- ✔✔ANSWER A core perspective. Success and failure of firms are constrained
by institutions
,28. Formal rules
- ✔✔ANSWER requirements that treat domestic and foreign firms as equals
enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would
undermine the chances for foreign entrants
29. Informal rules
- ✔✔ANSWER cultures, ethics, and norms play an important part in shaping the
success and failure of firms around the globe
30. Resource-based view
- ✔✔ANSWER A core perspective. Success and failure of firms is determined
by their environment
31. New force in recent times, a long-running historical evolution, a pendulum
swinging between extremes
- ✔✔ANSWER What are the three views of globalization?
32. "Four Tigers"
- ✔✔ANSWER Hong Kong, Singapore, South Korea and Taiwan
33. Absolute advantage
- ✔✔ANSWER The economic advantage one nation enjoys that is ab- solutely
superior to other nations.
, 34. Administrative policy
- ✔✔ANSWER Bureaucratic rules that make it harder to import foreign goods.
35. antidumping duty
- ✔✔ANSWER Tariffs levied on imports that have been "dumped" (selling below
costs to "unfairly" drive domestic firms out of business).
36. Balance of Trade
- ✔✔ANSWER The aggregation of importing and exporting that leads to the country-
level trade surplus or deficit.
37. Classical trade theories
- ✔✔ANSWER The major theories of international trade that were advanced
before the 20th century, which consist of (1) mercantilism, (2) absolute
advantage, and (3) comparative advantage.
38. Comparative advantage
- ✔✔ANSWER Relative (not absolute) advantage in one economic activity that one
nation enjoys in comparison with other nations.
39. Deadweight cost
- ✔✔ANSWER Net losses that occur in an economy as a result of tariffs.
40. Export
- ✔✔ANSWER Selling abroad.
