C211 Competency 1 Exam with verified detailed answers

C211 Competency 1 Exam with verified detailed ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||




answers


The resource-based view of global business differs from the institution-based view of global
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business in that the resource-based view _____. - correct answer✔✔focuses on the
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internal strengths on the firm ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||




The _____ of globalization suggests that globalization is neither recent nor one-directional.
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- correct answer✔✔pendulum view
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Globalization can be viewed as: - correct answer✔✔A new force sweeping through the ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||




world in recent times. ||\\|//|| ||\\|//|| ||\\|//||




A long-run historical evolution since the dawn of human history.
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A pendulum that swings from one extreme to another from time to time.
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According to the theory of absolute advantage, under free trade, - correct answer✔✔Each ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//|| ||\\|//||




nation gains by specializing in economic activities in which a nation has absolute
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advantage.



Chile requires 50 units of resource to produce one ton of wine and 20 units of resource to
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produce one ton of blueberries. France requires 30 units of resource to produce one ton of
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wine and 40 units of resource to produce one ton of blueberries. Which of the following is
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true? - correct answer✔✔France has a comparative advantage in wine.
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Free trade is defined as: - correct answer✔✔The idea that market forces should determine
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how much to trade with little or no government intervention.
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