International Business Final Exam
Questions and Answers 100% Solved
Define Globalization ✔✔A trend towards greater economical, cultural, political and
technological interdependence.
What happens when denationalization occurs? ✔✔National boundaries become less important.
What is the difference between denationalization and internationalization? ✔✔The nature of
interdependent relations. Denationalization = outgrowing national borders. They cooperate for
their well being. Internationalization = source of interdependence comes from pressure.
What is meant by the Globalization of Markets? ✔✔The convergence of buyer preferences,
emergences of global producers, new market opportunities.
Globalization of Markets helps in... ✔✔Marketing and Production
What is the Globalization of Production? ✔✔Producing at locations where it is low cost of
quality maximizing. (Access to low cost workers, access expertise)
,Globalization of production efficiency lowers... ✔✔Costs of production
Name 3 factors causing Globalization. ✔✔(1) Falling barriers to investment and trade
(2) Technological innovations
(3) Increase in Global Competition
What is the WTO? ✔✔A contract between member nations to maintain fair and open trade
policies.
What are the 3 goals of the WTO? ✔✔(1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation ✔✔(1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
,Globalization impacts countries through....(5) ✔✔(1) Jobs and Wages
(2) Income inequality
(3) Labor and environment
(4) National sovereignty
(5) Culture
3 points to support "Globalization costs Jobs and lowers wages" ✔✔(1) Eliminates Jobs in
developed nations
(2) Wages lower in developed nations
(3) Exploits workers in developing nations
3 points to support "Globalization creates jobs and boosts wages" ✔✔(1) Increases wealth and
efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization. ✔✔(1) Inequality within nations
, (2) between nations
(3) Global inequality
Name 2 key players in International Business ✔✔International corporations, entrepreneurs and
small businesses
Multinational corporations are important in Globalization because... ✔✔They employ many
people
Entrepreneurs are important in Globalization because... ✔✔They are more active in international
business (because of technology)
What is culture? ✔✔Backgrounds, assumptions, expectation, ways of communication, values
beliefs, rules.
Define ethnocentricity. ✔✔The belief that one's culture is superior to anothers.
Define Cultural Literacy. ✔✔Knowledge and understanding of anothers culture which helps
improve collaborative work.
Questions and Answers 100% Solved
Define Globalization ✔✔A trend towards greater economical, cultural, political and
technological interdependence.
What happens when denationalization occurs? ✔✔National boundaries become less important.
What is the difference between denationalization and internationalization? ✔✔The nature of
interdependent relations. Denationalization = outgrowing national borders. They cooperate for
their well being. Internationalization = source of interdependence comes from pressure.
What is meant by the Globalization of Markets? ✔✔The convergence of buyer preferences,
emergences of global producers, new market opportunities.
Globalization of Markets helps in... ✔✔Marketing and Production
What is the Globalization of Production? ✔✔Producing at locations where it is low cost of
quality maximizing. (Access to low cost workers, access expertise)
,Globalization of production efficiency lowers... ✔✔Costs of production
Name 3 factors causing Globalization. ✔✔(1) Falling barriers to investment and trade
(2) Technological innovations
(3) Increase in Global Competition
What is the WTO? ✔✔A contract between member nations to maintain fair and open trade
policies.
What are the 3 goals of the WTO? ✔✔(1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation ✔✔(1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
,Globalization impacts countries through....(5) ✔✔(1) Jobs and Wages
(2) Income inequality
(3) Labor and environment
(4) National sovereignty
(5) Culture
3 points to support "Globalization costs Jobs and lowers wages" ✔✔(1) Eliminates Jobs in
developed nations
(2) Wages lower in developed nations
(3) Exploits workers in developing nations
3 points to support "Globalization creates jobs and boosts wages" ✔✔(1) Increases wealth and
efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization. ✔✔(1) Inequality within nations
, (2) between nations
(3) Global inequality
Name 2 key players in International Business ✔✔International corporations, entrepreneurs and
small businesses
Multinational corporations are important in Globalization because... ✔✔They employ many
people
Entrepreneurs are important in Globalization because... ✔✔They are more active in international
business (because of technology)
What is culture? ✔✔Backgrounds, assumptions, expectation, ways of communication, values
beliefs, rules.
Define ethnocentricity. ✔✔The belief that one's culture is superior to anothers.
Define Cultural Literacy. ✔✔Knowledge and understanding of anothers culture which helps
improve collaborative work.
