C211 Global Economics for Managers Final Exam -
WGU Exam Study Guide – Complete Questions
with Correct Detailed Answers | Latest Updated
Version
Prepare effectively for your Western Governors University (WGU) exams with this
comprehensive and well-organized study guide. This resource contains complete exam
questions with correct and detailed answers, designed to help students understand key
concepts and successfully prepare for their WGU assessments.
WGU courses follow a competency-based learning model, meaning students must
demonstrate a strong understanding of course objectives before passing their assessments.
This study guide helps simplify the process by providing structured questions and accurate
explanations that reinforce important topics and improve exam readiness.
What This Study Guide Includes
✔ Complete exam questions covering key WGU course competencies
✔ Correct answers with clear and detailed explanations
✔ Organized format for quick and effective revision
✔ Coverage of commonly tested concepts in WGU assessments
✔ Latest updated version for reliable exam preparation
Why This Study Guide Is Helpful
This resource is designed to help students review faster, understand concepts more clearly,
and build confidence before taking WGU Objective Assessments (OA). Practicing with
structured questions and reviewing detailed answers helps strengthen knowledge and
improve test-taking skills.
Ideal For
,• WGU Objective Assessment (OA) preparation
• Midterm and final exam review
• Self-paced study and revision
• Practicing exam-style questions
• Strengthening understanding of course competencies
A valuable study resource designed to support WGU students in preparing effectively and
performing confidently in their exams.
Base of the pyramid (BOP) -answer Economies where people make less than $2,000
per capita per year.
BRICA -answer Brazil, Russia, India, and China.
Emerging economies -answer term that has gradually replaced the term "developing
countries" since the 1990s.
Emerging markets -answer A term that is often used interchangeably with "emerging
economies."
Expatriate manager -answer A manager who works abroad, or "expat" for short.
Foreign direct investment (FDI) -answer Investment in, controlling, and managing
value-added activities in other countries.
Global Business -answer Business around the globe.
,Gross national income (GNI) -answer GDP plus income from non-resident sources
abroad. The term used by the World Bank and other international organizations to supersede
the term GNP.
Gross national product (GNP) -answer GDP plus income from non-resident sources
abroad
International business (IB) -answer (1) A business (or firm) that engages in
international (cross-border) economic activities and/or (2) the action of doing business abroad.
International premium -answer A significant pay raise when working overseas.
Liability of foreignness -answer The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
Multinational enterprise (MNE) -answer A firm that engages in foreign direct
investment (FDI).
Reverse innovation -answer An innovation that is adopted first in emerging
economies and is then diffused around the world.
Risk management -answer The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
Scenario planning -answer A technique to prepare and plan for multiple scenarios
(either high or low risk).
, Purchasing power parity (PPP) -answer adjustment made to the GDP to reflect
differences in the cost of living
The bottom billion -answer Concentrated in Africa and Central Asia - 58 small
countries, stuck at the bottom in terms of growth, incomes and human development
Enhance employability & advance career, better preparation to be expat, competence in
interacting with foreign suppliers/partners/competitors/employees -answer Why
study global business?
Formal rules -answer requirements that treat domestic and foreign firms as equals
enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would undermine the
chances for foreign entrants
Informal rules -answer cultures, ethics, and norms play an important part in shaping
the success and failure of firms around the globe
Resource-based view -answer A core perspective. Success and failure of firms is
determined by their environment
New force in recent times, a long-running historical evolution, a pendulum swinging between
extremes -answer What are the three views of globalization?
"Four Tigers" -answer Hong Kong, Singapore, South Korea and Taiwan
Administrative policy -answer Bureaucratic rules that make it harder to import foreign
goods.
WGU Exam Study Guide – Complete Questions
with Correct Detailed Answers | Latest Updated
Version
Prepare effectively for your Western Governors University (WGU) exams with this
comprehensive and well-organized study guide. This resource contains complete exam
questions with correct and detailed answers, designed to help students understand key
concepts and successfully prepare for their WGU assessments.
WGU courses follow a competency-based learning model, meaning students must
demonstrate a strong understanding of course objectives before passing their assessments.
This study guide helps simplify the process by providing structured questions and accurate
explanations that reinforce important topics and improve exam readiness.
What This Study Guide Includes
✔ Complete exam questions covering key WGU course competencies
✔ Correct answers with clear and detailed explanations
✔ Organized format for quick and effective revision
✔ Coverage of commonly tested concepts in WGU assessments
✔ Latest updated version for reliable exam preparation
Why This Study Guide Is Helpful
This resource is designed to help students review faster, understand concepts more clearly,
and build confidence before taking WGU Objective Assessments (OA). Practicing with
structured questions and reviewing detailed answers helps strengthen knowledge and
improve test-taking skills.
Ideal For
,• WGU Objective Assessment (OA) preparation
• Midterm and final exam review
• Self-paced study and revision
• Practicing exam-style questions
• Strengthening understanding of course competencies
A valuable study resource designed to support WGU students in preparing effectively and
performing confidently in their exams.
Base of the pyramid (BOP) -answer Economies where people make less than $2,000
per capita per year.
BRICA -answer Brazil, Russia, India, and China.
Emerging economies -answer term that has gradually replaced the term "developing
countries" since the 1990s.
Emerging markets -answer A term that is often used interchangeably with "emerging
economies."
Expatriate manager -answer A manager who works abroad, or "expat" for short.
Foreign direct investment (FDI) -answer Investment in, controlling, and managing
value-added activities in other countries.
Global Business -answer Business around the globe.
,Gross national income (GNI) -answer GDP plus income from non-resident sources
abroad. The term used by the World Bank and other international organizations to supersede
the term GNP.
Gross national product (GNP) -answer GDP plus income from non-resident sources
abroad
International business (IB) -answer (1) A business (or firm) that engages in
international (cross-border) economic activities and/or (2) the action of doing business abroad.
International premium -answer A significant pay raise when working overseas.
Liability of foreignness -answer The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
Multinational enterprise (MNE) -answer A firm that engages in foreign direct
investment (FDI).
Reverse innovation -answer An innovation that is adopted first in emerging
economies and is then diffused around the world.
Risk management -answer The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
Scenario planning -answer A technique to prepare and plan for multiple scenarios
(either high or low risk).
, Purchasing power parity (PPP) -answer adjustment made to the GDP to reflect
differences in the cost of living
The bottom billion -answer Concentrated in Africa and Central Asia - 58 small
countries, stuck at the bottom in terms of growth, incomes and human development
Enhance employability & advance career, better preparation to be expat, competence in
interacting with foreign suppliers/partners/competitors/employees -answer Why
study global business?
Formal rules -answer requirements that treat domestic and foreign firms as equals
enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would undermine the
chances for foreign entrants
Informal rules -answer cultures, ethics, and norms play an important part in shaping
the success and failure of firms around the globe
Resource-based view -answer A core perspective. Success and failure of firms is
determined by their environment
New force in recent times, a long-running historical evolution, a pendulum swinging between
extremes -answer What are the three views of globalization?
"Four Tigers" -answer Hong Kong, Singapore, South Korea and Taiwan
Administrative policy -answer Bureaucratic rules that make it harder to import foreign
goods.
