C211 Second OA quizzes
C211 WGU; Second OA Global
Economics Quizzes Ch. 1, 2, 5, 6, 7, 10,
11. Ch4, 5, 13-17, 21, 29, 34. (209
Terms) with Verified Answers 2024-
2025.
The term "emerging economies" has replaced the term _____. - Answer:
Developing countries
The gross domestic product plus the income from non-resident sources abroad
gives the ____. - Answer: gross national product
More than 25% of global GDP comes from _____. - Answer: BRICS countries
1|Page
, C211 Second OA quizzes
Viewing the global economy as a pyramid, the Triad refers to _____. - Answer:
North America, Western Europe, and Japan
People who earn _____ a year comprise the base of the global economic pyramid.
- Answer: less than $2,000
Which of the following would be an example of a top-down innovation? - Answer:
Lowering prices and features of existing products to meet emerging market needs
Which of the following is true of the Group of 20 (G-20)? - Answer: It only has 19
member countries.
Which of the following does the institution-based view of global business lay
emphasis on? - Answer: Understanding the laws and values of the firm's host
nation.
The resource-based view of global business differs from the institution-based view
of global business in that the resource-based view _____. - Answer: focuses on
the internal strengths on the firm
The liability of foreignness is the inherent disadvantage faced by _____. - Answer:
foreign firms in host nations due to their non-native status
2|Page
, C211 Second OA quizzes
Which of the following is true of globalization according to the "new force"
perspective? - Answer: It is a western ideology focused on exploiting and
dominating the world through MNEs
The concept of _____ suggests that barriers to market integration at borders are
high, but not high enough to completely insulate countries from each other. -
Answer: Semi globalization
The strategy of treating each country as a unique market and in total isolation is
referred to as _____. - Answer: Localization
MNEs from the Triad dominate the list of the 500 largest MNEs; their share has
been _____. - Answer: Shrinking
A conversion that determines the equivalent amount of goods and services that
different currencies can buy is known as _____. - Answer: purchasing power parity
Which of the following countries would be characterized as an emerging
economy? - Answer: Brazil
Which of the following countries is represented in the Triad of the global
economic pyramid? - Answer: Japan
People who earn _____ a year comprise the base of the global economic pyramid.
- Answer: less than $2,000
3|Page
, C211 Second OA quizzes
A _____ is defined as an innovation that is adopted first in emerging economies
and then diffused around the world. - Answer: reverse innovation
The _____ view suggests that the success and failure of firms are largely
determined by their environments. - Answer: institution-based
The _____ view of global business focuses on internal factors that can help a firm
overcome its external environment. - Answer: resource-based
Which of the following is true of globalization according to the "pendulum view"
perspective? - Answer: Globalization is a not a one-directional phenomenon
The concept of _____ suggests that barriers to market integration at borders are
high, but not high enough to completely insulate countries from each other. -
Answer: semiglobalization
_____ is the strategy of treating the entire world as one market. - Answer:
Standardization
Protectionism is similar to mercantilism as they both advocated _____. - Answer:
government involvement in international trade
The _____ principle advocated that governments should actively protect domestic
industries from imports and vigorously promote exports. - Answer: Protectionism
4|Page
C211 WGU; Second OA Global
Economics Quizzes Ch. 1, 2, 5, 6, 7, 10,
11. Ch4, 5, 13-17, 21, 29, 34. (209
Terms) with Verified Answers 2024-
2025.
The term "emerging economies" has replaced the term _____. - Answer:
Developing countries
The gross domestic product plus the income from non-resident sources abroad
gives the ____. - Answer: gross national product
More than 25% of global GDP comes from _____. - Answer: BRICS countries
1|Page
, C211 Second OA quizzes
Viewing the global economy as a pyramid, the Triad refers to _____. - Answer:
North America, Western Europe, and Japan
People who earn _____ a year comprise the base of the global economic pyramid.
- Answer: less than $2,000
Which of the following would be an example of a top-down innovation? - Answer:
Lowering prices and features of existing products to meet emerging market needs
Which of the following is true of the Group of 20 (G-20)? - Answer: It only has 19
member countries.
Which of the following does the institution-based view of global business lay
emphasis on? - Answer: Understanding the laws and values of the firm's host
nation.
The resource-based view of global business differs from the institution-based view
of global business in that the resource-based view _____. - Answer: focuses on
the internal strengths on the firm
The liability of foreignness is the inherent disadvantage faced by _____. - Answer:
foreign firms in host nations due to their non-native status
2|Page
, C211 Second OA quizzes
Which of the following is true of globalization according to the "new force"
perspective? - Answer: It is a western ideology focused on exploiting and
dominating the world through MNEs
The concept of _____ suggests that barriers to market integration at borders are
high, but not high enough to completely insulate countries from each other. -
Answer: Semi globalization
The strategy of treating each country as a unique market and in total isolation is
referred to as _____. - Answer: Localization
MNEs from the Triad dominate the list of the 500 largest MNEs; their share has
been _____. - Answer: Shrinking
A conversion that determines the equivalent amount of goods and services that
different currencies can buy is known as _____. - Answer: purchasing power parity
Which of the following countries would be characterized as an emerging
economy? - Answer: Brazil
Which of the following countries is represented in the Triad of the global
economic pyramid? - Answer: Japan
People who earn _____ a year comprise the base of the global economic pyramid.
- Answer: less than $2,000
3|Page
, C211 Second OA quizzes
A _____ is defined as an innovation that is adopted first in emerging economies
and then diffused around the world. - Answer: reverse innovation
The _____ view suggests that the success and failure of firms are largely
determined by their environments. - Answer: institution-based
The _____ view of global business focuses on internal factors that can help a firm
overcome its external environment. - Answer: resource-based
Which of the following is true of globalization according to the "pendulum view"
perspective? - Answer: Globalization is a not a one-directional phenomenon
The concept of _____ suggests that barriers to market integration at borders are
high, but not high enough to completely insulate countries from each other. -
Answer: semiglobalization
_____ is the strategy of treating the entire world as one market. - Answer:
Standardization
Protectionism is similar to mercantilism as they both advocated _____. - Answer:
government involvement in international trade
The _____ principle advocated that governments should actively protect domestic
industries from imports and vigorously promote exports. - Answer: Protectionism
4|Page
