C211 WGU OA COMPLETE STUDY GUIDE
2026 IN-DEPTH QUESTIONS AND EXPERT
VERIFIED ANSWERS ASSURED SUCCESS
GRADED A+
⩥ What is the definition of an institution-based view of global business?
Answer: An institution-based view suggests that the success and failure
of firms are enabled and constrained by institutions, also known as the
rules of the game, such as regulations, laws, cultures, ethics, and norms.
⩥ From an institution-based view, a government's legal requirement for
a business to pay taxes would be an example of: Answer: the influence
of a formal institution.
⩥ Which are the three views of globalization? Answer: A recent force, a
long-running evolution, and a pendulum
⩥ Trade deficit refers to: Answer: an economic condition in which a
nation imports more than it exports.
⩥ The modern trade theories include the following EXCEPT: Answer:
Theory of comparative advantage
, ⩥ The theory of mercantilism: Answer: views international trade as a
zero-sum game.
⩥ According to the theory of absolute advantage, under free trade,
Answer: each nation gains by specializing in economic activities in
which a nation has absolute advantage.
⩥ Which of the following is NOT a nontariff trade barrier (NTB)?
Answer: Cultural distance
⩥ Which of the following theories does NOT lead to the conclusion that
unrestricted free trade is in the best interests of all countries? Answer:
Strategic trade theory
⩥ An import quota is: Answer: Restriction on the quantity of imports
that can be brought into a country.
⩥ The three modern theories of international trade are: Answer: product
life cycle, strategic trade, national competitive advantage of industries.
⩥ Free trade is defined as: Answer: The idea that market forces should
determine how much to trade with little or no government intervention.
⩥ Multinational enterprises (MNEs) are: Answer: firms that engage in
foreign direct investment (FDI).
2026 IN-DEPTH QUESTIONS AND EXPERT
VERIFIED ANSWERS ASSURED SUCCESS
GRADED A+
⩥ What is the definition of an institution-based view of global business?
Answer: An institution-based view suggests that the success and failure
of firms are enabled and constrained by institutions, also known as the
rules of the game, such as regulations, laws, cultures, ethics, and norms.
⩥ From an institution-based view, a government's legal requirement for
a business to pay taxes would be an example of: Answer: the influence
of a formal institution.
⩥ Which are the three views of globalization? Answer: A recent force, a
long-running evolution, and a pendulum
⩥ Trade deficit refers to: Answer: an economic condition in which a
nation imports more than it exports.
⩥ The modern trade theories include the following EXCEPT: Answer:
Theory of comparative advantage
, ⩥ The theory of mercantilism: Answer: views international trade as a
zero-sum game.
⩥ According to the theory of absolute advantage, under free trade,
Answer: each nation gains by specializing in economic activities in
which a nation has absolute advantage.
⩥ Which of the following is NOT a nontariff trade barrier (NTB)?
Answer: Cultural distance
⩥ Which of the following theories does NOT lead to the conclusion that
unrestricted free trade is in the best interests of all countries? Answer:
Strategic trade theory
⩥ An import quota is: Answer: Restriction on the quantity of imports
that can be brought into a country.
⩥ The three modern theories of international trade are: Answer: product
life cycle, strategic trade, national competitive advantage of industries.
⩥ Free trade is defined as: Answer: The idea that market forces should
determine how much to trade with little or no government intervention.
⩥ Multinational enterprises (MNEs) are: Answer: firms that engage in
foreign direct investment (FDI).
