C211 - Global Economics for Managers Final Exam - All Reading
C211 - Global Economics for Managers
Final Exam - All Reading/ Containing
880 Questions with Definitive Solutions
2024-2025.
Base of the pyramid (BOP) - Answer: Economies where people make less than
$2,000 per capita per year.
BRICA - Answer: Brazil, Russia, India, and China.
Emerging economies - Answer: term that has gradually replaced the term
"developing countries" since the 1990s.
1|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Emerging markets - Answer: A term that is often used interchangeably with
"emerging economies."
Expatriate manager - Answer: A manager who works abroad, or "expat" for short.
Foreign direct investment (FDI) - Answer: Investment in, controlling, and managing
value-added activities in other countries.
Global Business - Answer: Business around the globe.
Gross national income (GNI) - Answer: 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) - Answer: GDP plus income from non-resident
sources abroad
International business (IB) - Answer: (1) A business (or firm) that engages in
international (cross-border) economic activities and/or (2) the action of doing
business abroad.
International premium - Answer: A significant pay raise when working overseas.
Liability of foreignness - Answer: The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
2|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Multinational enterprise (MNE) - Answer: A firm that engages in foreign direct
investment (FDI).
Reverse innovation - Answer: An innovation that is adopted first in emerging
economies and is then diffused around the world.
Risk management - Answer: The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
Scenario planning - Answer: A technique to prepare and plan for multiple
scenarios (either high or low risk).
Purchasing power parity (PPP) - Answer: adjustment made to the GDP to reflect
differences in the cost of living
The bottom billion - Answer: Concentrated in Africa and Central Asia - 58 small
countries, stuck at the bottom in terms of growth, incomes and human
development
Enhance employability & advance career, better preparation to be expat,
competence in interacting with foreign
suppliers/partners/competitors/employees - Answer: Why study global business?
3|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Formal rules - Answer: requirements that treat domestic and foreign firms as
equals enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would
undermine the chances for foreign entrants
Informal rules - Answer: cultures, ethics, and norms play an important part in
shaping the success and failure of firms around the globe
Resource-based view - Answer: A core perspective. Success and failure of firms is
determined by their environment
New force in recent times, a long-running historical evolution, a pendulum
swinging between extremes - Answer: What are the three views of globalization?
"Four Tigers" - Answer: Hong Kong, Singapore, South Korea and Taiwan
Administrative policy - Answer: Bureaucratic rules that make it harder to import
foreign goods.
antidumping duty - Answer: Tariffs levied on imports that have been "dumped"
(selling below costs to "unfairly" drive domestic firms out of business).
Balance of Trade - Answer: The aggregation of importing and exporting that leads
to the country-level trade surplus or deficit.
4|Page
C211 - Global Economics for Managers
Final Exam - All Reading/ Containing
880 Questions with Definitive Solutions
2024-2025.
Base of the pyramid (BOP) - Answer: Economies where people make less than
$2,000 per capita per year.
BRICA - Answer: Brazil, Russia, India, and China.
Emerging economies - Answer: term that has gradually replaced the term
"developing countries" since the 1990s.
1|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Emerging markets - Answer: A term that is often used interchangeably with
"emerging economies."
Expatriate manager - Answer: A manager who works abroad, or "expat" for short.
Foreign direct investment (FDI) - Answer: Investment in, controlling, and managing
value-added activities in other countries.
Global Business - Answer: Business around the globe.
Gross national income (GNI) - Answer: 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) - Answer: GDP plus income from non-resident
sources abroad
International business (IB) - Answer: (1) A business (or firm) that engages in
international (cross-border) economic activities and/or (2) the action of doing
business abroad.
International premium - Answer: A significant pay raise when working overseas.
Liability of foreignness - Answer: The inherent disadvantage that foreign firms
experience in host countries because of their non-native status.
2|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Multinational enterprise (MNE) - Answer: A firm that engages in foreign direct
investment (FDI).
Reverse innovation - Answer: An innovation that is adopted first in emerging
economies and is then diffused around the world.
Risk management - Answer: The identification and assessment of risks and the
preparation to minimize the impact of high-risk, unfortunate events.
Scenario planning - Answer: A technique to prepare and plan for multiple
scenarios (either high or low risk).
Purchasing power parity (PPP) - Answer: adjustment made to the GDP to reflect
differences in the cost of living
The bottom billion - Answer: Concentrated in Africa and Central Asia - 58 small
countries, stuck at the bottom in terms of growth, incomes and human
development
Enhance employability & advance career, better preparation to be expat,
competence in interacting with foreign
suppliers/partners/competitors/employees - Answer: Why study global business?
3|Page
, C211 - Global Economics for Managers Final Exam - All Reading
Formal rules - Answer: requirements that treat domestic and foreign firms as
equals enhance the potential odds
for foreign firms' success or those that discriminate against foreign firms, would
undermine the chances for foreign entrants
Informal rules - Answer: cultures, ethics, and norms play an important part in
shaping the success and failure of firms around the globe
Resource-based view - Answer: A core perspective. Success and failure of firms is
determined by their environment
New force in recent times, a long-running historical evolution, a pendulum
swinging between extremes - Answer: What are the three views of globalization?
"Four Tigers" - Answer: Hong Kong, Singapore, South Korea and Taiwan
Administrative policy - Answer: Bureaucratic rules that make it harder to import
foreign goods.
antidumping duty - Answer: Tariffs levied on imports that have been "dumped"
(selling below costs to "unfairly" drive domestic firms out of business).
Balance of Trade - Answer: The aggregation of importing and exporting that leads
to the country-level trade surplus or deficit.
4|Page
