WGU C211 - Global Economics for Managers Final Exam - All Reading (Answered Fall 2022)

WGU C211 - Global Economics for Managers Final Exam - All Reading (Answered Fall 2022) Base of the pyramid (BOP) Economies where people make less than $2,000 per capita per year. BRICA Brazil, Russia, India, and China. Emerging economies term that has gradually replaced the term "developing countries" since the 1990s. Emerging markets A term that is often used interchangeably with "emerging economies." Expatriate manager A manager who works abroad, or "expat" for short. Foreign direct investment (FDI) Investment in, controlling, and managing value-added activities in other countries. Global Business Business around the globe. Gross national income (GNI) 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) GDP plus income from non-resident sources abroad International business (IB) (1) A business (or firm) that engages in international (cross-border) economic activities and/or (2) the action of doing business abroad. International premium A significant pay raise when working overseas. Liability of foreignness The inherent disadvantage that foreign firms experience in host countries because of their non-native status. Multinational enterprise (MNE) A firm that engages in foreign direct investment (FDI). Reverse innovation An innovation that is adopted first in emerging economies and is then diffused around the world. Risk management The identification