IB 201 Quinnipiac Final latest questions and answers all are correct graded A+

The two main drivers of globalization are: - Trade and Technology Goods and Service Purchased abroad and brought into a country are called - Imports Any commercial transactions that crosses the boarder of two or more nations - International Business All goods and services sold abroad and sent out of the country - Exports Globalization is the trend toward greater economic, cultural, ____________, and ____________ interdependence among national institutions etc. - Political, Technological Globalization of markets benefits companies by - Both reducing costs and creating new market opportunities Relocating production to low-cost locales traditionally meant production of ___________ almost exclusively, it increasingly applies to the production of ____________ - Goods, Services Value of all goods and services produced by a country's domestic and international activities over a 1-year period - Gross Domestic Product (GDP) Main difference between two sides of globalization debate is whether overall gains made to________ are worth the lost livelihoods that _________ may suffer - National economies, individuals In the current age of globalization, competitors are _________ earlier and _________ faster, often with help from technology - Exporting, growing___________ are the set of values, beliefs, rules, and institutions held by a specific group of people - Culture Cultural literacy improves a person's ability to - Both manage employees and conduct negotiations According to Hofstede, which describes the degree of inequality people tolerate in a society? - Power Distance Which political ideology states every aspect of people's lives must be controlled for a nation's political system to be effective? - Totalitarianism A _________ is a political system in which a country's religious leaders serve as its political leaders - Theocracy Which philosophy asserts that ownership of the means of production belongs in the (hands) of individuals and private business - Capitalism Which term refers to the forced transfer of assets from a company to the government WITH compensation? - Exportation ______________ refers to the takeover of an entire industry by the government - Nationalization Under ________ law, the justice system decides cases by interpreting the law on the basis of tradition, precedent, and usage. - Common A _______ is a right granted to the inventor of a product or process that excludes others from making, using, or selling the invention. - Patent