WGU D080 study guide questions with complete solutions

What is globalization? correct answer: When international integration arises from the interchange of world views, products, ideas, and other aspects of cultures. different types of Globalization correct answer: 1. Economic 2. Political 3. Cultural Advantages of Economic globalization correct answer: more trade, investments, information technology, faster economic development, and increased social being Disadvantages of Economic globalization correct answer: benefits the rich at the expense of the poor, manufacturing job loss in developed countries, environmental damage, and unethical practices of labor Advantages of Political globalization correct answer: more cooperation amount countries, formation of international or regional organizations, NGOs Disadvantages of Political globalization correct answer: reduce the importance of nation-states, loss of sovereignty and power of local government Advantages of Cultural globalization correct answer: awareness of international community Disadvantages of Cultural globalization correct answer: loss of uniqueness of a country's culture What is international business? correct answer: any situation where the production or distribution of goods or services crosses country borders What are opportunities for international business? correct answer: New and large international markets offers possible more revenues, lower costs, and access to advanced technology