WGU D080 Final Exam Questions With Complete Solutions 2023/2024 Graded A+

WGU D080 Final Exam Questions With Complete Solutions 2023/2024 Graded A+. Technology - ANSWER-The level of technological development of a nation affects the attractiveness of doing business there and the type of operations that are possible Cultural distance refers to people's differences based on language, norms, national or ethnic identity, levels of trust, tolerance, respect for entrepreneurship and social networks, or other country specific qualities - ANSWERAdministration - ANSWER-Bilateral trade flows show that administratively similar countries trade much more with each other than dissimilar countries In Globalization 1.0 - ANSWER-nations dominated global expansion Globalization 2.0 - ANSWER-was driven by the ascension of multinational companies, which pushed global development In Globalization 3.0 - ANSWER-significant software advances have allowed an unprecedented number of people worldwide to work together with unlimited potential Authoritarian governments - ANSWER-Centralize all control in the hands of one strong leader or a strong small group of leaders who have full authority Totalitarianism - ANSWER-Contends that every aspect of an individual's life should be controlled and dictated by a strong central government. Tend to use more fear and corruption to maintain control Anarchism - ANSWER-Contends that individuals should control political activities, and public government is both unnecessary and unwanted Democratic governments - ANSWER-Derive their power from the people of the country, either by direct referendum (called a direct democracy) or through elected representatives of the people (a representative democracy) Free trade zones - ANSWER-These areas have reduced tariffs, taxes, customs, procedures, or restrictions to promote trade with other countries Command Economy - ANSWER-Economic effort is devoted to goals passed down from a ruler or a ruling class. Resources and businesses are owned by the government Mixed economy - ANSWER-Supply and demand are generally determined by individuals or companies, but the government will intervene as necessary Traditional economies - ANSWER-Are focused around families or tribes where everyone consumes and produces the same goods, there is no surplus, and members barter. Little to no global trade is practiced Market economy, goods and services are owned by individuals or companies that can buy, sell, or lease them to make a profit with minimum interference by the government - ANSWERCommunism - ANSWER-A system in which all property is publicly owned and the government controls global trade Capitalism - ANSWER-A system in which the means of production is controlled by private owners who can choose to participate in global trade Socialism - ANSWER-A system in which the government controls the means of production and regulates global trade Industrialized - ANSWER-Prevalent formation of new markets with possibility of saturation Less developed - ANSWER-Focus on agriculture and raw materials with limited imports Developing - ANSWER-Growing population which leads to long term growth potential Civil Law - ANSWER-An inquisitorial system where the investigating judge investigates the facts of the case Common Law - ANSWER-Judges interpret the law, and judicial rulings can set precedent Religious Law - ANSWER-Is based on religious guidelines Customary Law - ANSWER-Can vary from community to community and is found in countries without strong formal justice systems Canon Law - ANSWER-This system is the body of laws and regulations made by a religious authority governing communities Special Drawing Rights - ANSWER-The international type of monetary reserve currency created by the IMF TRIPS - ANSWER-Trade Related Aspects of Intellectual Property Rights Privatization - ANSWER-Selling government holdings to private companies The International Monetary Fund (IMF) - ANSWER-Promote international economic cooperation, international trade, employment, and exchange rate stability by making financial resources available to member countries to meet their balance of payments needs World Bank - ANSWER-Helps build sustainable economic growth, invests in people, end extreme poverty, improve the income of the lowest 40% of citizens in each country, and build resilience to shocks and threats The European Central bank - ANSWER-Regulates the supply of euros Debt Instruments - ANSWER-A tool used by a company or any other entity to raise money or capital Federal Reserve Bank - ANSWER-U.S. central bank