Global Business FVC1 WGU 2022/2023 questions with complete solutions

Which negative outcome on political systems comes from globalization? correct answer: Creation of isolationist policies Which factor results in a higher rate of globalization? correct answer: Reduced trade barriers What are the four factors in Ghemawat's CAGE analysis? correct answer: Culture, administration, geography, economy What is a major drawback to the home country when companies outsource manufacturing jobs to countries with lower worker wages? correct answer: Loss of manufacturing jobs A country has a characteristic traditional economic system with poor infrastructure and limited economic opportunity. What is the impact of this system on the process of globalization? correct answer: The globalization process is at a disadvantage as the country has a lower standard of living. What is a characteristic of a market economy? correct answer: Firms seek to maximize profits Which impact does Islamic law directly have on businesses? correct answer: It forbids charging interest Which institution helps to maintain availability of global financing to solve trade deficit issues? correct answer: International Monetary Fund What is the current focus of the World Bank? correct answer: improving quality of life For which concern has the World Trade Organ