WGU C211 Global Econ Study Guide & Cohort Questions with correct answers

Views of globalization (Chp 1.4) CORRECT ANSWER 1. It's a new phenomenom, starting in the late 20th century. 2. It's a long term part of human history. 3. Neither recent nor one directional, it's a pendulum that swings back and forth. Location specific advantage of Natural resource—seeking CORRECT ANSWER Strategic goal - Possession of natural resources and related transport and communication infrastructure Location specific advantage of Market-seeking CORRECT ANSWER Strategic goal - Abundance of strong market demand and customers willing to pay Location specific advantage of Efficiency-seeking CORRECT ANSWER Strategic goal - Economies of scale and abundance of low-cost factors Location specific advantage of Innovation-seeking CORRECT ANSWER Strategic goal - Abundance of innovative individuals, firms, and universities Name first mover advantages: (Chp 10.3) CORRECT ANSWER 1. Proprietary, technological leadership 2. Pre-emption of scarce resources 3. Establishment of entry barriers for late entrants 4. Avoidance of clash with dominant firms at home 5. Relationships with key stakeholders such as governments