age 1 of 155
HESI MATH COMPLETE STUDY GUIDE ACTUAL EXAM
2025/2026 ACCURATE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED PASS
<RECENT VERSION>
Economic Integration - Government Trade Collaboration -
.......Answer.........5 levels (order important) - as each level builds
on the levels listed before):
Free Trade Area (FTA) - e.g. NAFTA. Allows free movement of
goods
Customs Union - common external trade policy i.e. same duty
rate amongst all members
Common Market - Free movement of all factors of production i.e.
free labor movement
,age 2 of 155
Economic Union - members utilize a common currency (Monetary
Union/Currency Union)
Political Union or Nation State - common foreign policy, army
etc. i.e. UK, USA
Mercantilism .......Answer.........- trade based on one winning &
other losing
Absolute Advantage .......Answer.........- trade for mutually
beneficial advantages
Comparative Advantage .......Answer.........- even when a country
has an absolute advantage in multiple products, it should still
trade for the betterment of society.
Export Success Requires: .......Answer.........Management
commitment
,age 3 of 155
In-depth experience with the product/service - the business must
have a solid product/service, and understand how they
compete, and devise an effective way to compete.
Adequate Cash Flow
Capacity & Capability to expand and get product to
international markets.
Export Success - business that is "export ready" and market
where opportunity exists. .......Answer.........Conditions NOT critical
for Export Success - International experience (that can be hired);
foreign language ability (though it helps); travel to the foreign
market (though this also helps too).
Reasons to Go Global .......Answer.........Sales to other markets -
95% of worlds consumers live outside the US; common customer
, age 4 of 155
demands/tastes; improved economies of scale (operating &
process efficiencies
Diversification of customers & risk
Access to lower cost structures - labor, material costs, etc.
Global branding - aiding access to new markets, distributors,
etc.
Worldwide distribution & manufacturing - this can become a
strong competitive barrier to entry.
Economies of scale and learning beyond the US
Global cash flow - strategic movement of cash/assets.
Value of an International Business Plan: .......Answer.........Builds
consensus - aids in company-wide commitment & support
HESI MATH COMPLETE STUDY GUIDE ACTUAL EXAM
2025/2026 ACCURATE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED PASS
<RECENT VERSION>
Economic Integration - Government Trade Collaboration -
.......Answer.........5 levels (order important) - as each level builds
on the levels listed before):
Free Trade Area (FTA) - e.g. NAFTA. Allows free movement of
goods
Customs Union - common external trade policy i.e. same duty
rate amongst all members
Common Market - Free movement of all factors of production i.e.
free labor movement
,age 2 of 155
Economic Union - members utilize a common currency (Monetary
Union/Currency Union)
Political Union or Nation State - common foreign policy, army
etc. i.e. UK, USA
Mercantilism .......Answer.........- trade based on one winning &
other losing
Absolute Advantage .......Answer.........- trade for mutually
beneficial advantages
Comparative Advantage .......Answer.........- even when a country
has an absolute advantage in multiple products, it should still
trade for the betterment of society.
Export Success Requires: .......Answer.........Management
commitment
,age 3 of 155
In-depth experience with the product/service - the business must
have a solid product/service, and understand how they
compete, and devise an effective way to compete.
Adequate Cash Flow
Capacity & Capability to expand and get product to
international markets.
Export Success - business that is "export ready" and market
where opportunity exists. .......Answer.........Conditions NOT critical
for Export Success - International experience (that can be hired);
foreign language ability (though it helps); travel to the foreign
market (though this also helps too).
Reasons to Go Global .......Answer.........Sales to other markets -
95% of worlds consumers live outside the US; common customer
, age 4 of 155
demands/tastes; improved economies of scale (operating &
process efficiencies
Diversification of customers & risk
Access to lower cost structures - labor, material costs, etc.
Global branding - aiding access to new markets, distributors,
etc.
Worldwide distribution & manufacturing - this can become a
strong competitive barrier to entry.
Economies of scale and learning beyond the US
Global cash flow - strategic movement of cash/assets.
Value of an International Business Plan: .......Answer.........Builds
consensus - aids in company-wide commitment & support
