WGU D470 Transportation and Logistics- Test Questions with Correct Answers (Graded A+)

WGU D470 Transportation and Logistics- Test Questions with Correct Answers (Graded A+) Comparative Advantage - Answers What a company will do to better themselves. Such as, lower taxes. Integration - Answers Driver of Globalization, Regulatory chains, homogenize. Trade agreements. Production - Answers Driver of Globalization, supply chain, off shoring global production network Transportation - Answers Driver of Globalization, transportation chains, containerization, trans border transportation Transactions - Answers Driver of Globalization, information chains, capitol investments, credit for transactions Zero Sum - Answers gaining at the expense of others Genesis of the Global Econ - Answers Antiquity: Beginning of history, exploration-war-trade. Colonialism, imperialism, empires. Modern Age: 19th century, mass production/consumption. Industrial revolution, imperialism, capitalism, and nation states. Post Mod: After WWII trade liberalization, transport of tele-communication systems. Capitalism-corporations. Economic Blocs. Why was Europe the origin of globalization? - Answers a. Competition, political fragmentation (monarchs and republics) and divided into compete corporate entities (the early multi nationals) b. Scientific Rev, 17th century math, astronomy, physics, chem, bio, allows for tech boom! BOOM! c. Rule of Law and Representative Government, private property rights, representation of property owners in elected legislatures. So re-enforces their need to expand empire. People now want to invest more in the farms and properties buy seed, machinery, make improvements, etc. d. Modern Medicine, breakthroughs in 19th and 20th century this causes a drop in death rates and increase in life expectancy. e. Consume Society, supply of productivity-enhancing tech. Demand for more, better and cheeper goods, establishes supremacy. Industrial Revolution - Answers a. End of 18th century b. Econ and social transformation first observed in England c. Established the foundations of the global econ. d. Helps farm productivity (mech. of agriculture) e. Demographic transition of the pop: faster growth rate, improvements in sanitation, urbanization, changes in life style. I.R. Tech Innovations - Answers a. New materials: stele, iron, chemicals, etc.. b. Economies of scale created! c. Sub. of human labor for machines d. Usage of thermal energy to produce mech. energy. Consumerism - Answers Consumption, marketing, buying power. Access to credit. Advertising. Products - Answers a. Goods/Services b. Tangible c. Intangible (brand name) Global Products - Answers a. Uniform features b. Cost reduction (econ. of scale) c. Improved quality control d. global customers + markets e. drinks fashion electronics Regional Products - Answers a. Unique or adapted to area, eg: Campbell's soup! b. Specific preferences Brand Specific Products - Answers Tablet computer vs. iPad added value that actuates to a product is the relationship btwn a customer and a company/brand Global Products Stategies..Examples and Explain! - Answers a. Extension, unchanged: Coke. b. Adaption: McDonalds c. Creation: Campbell's new product for world market Price Discovery Mechanism - Answers how valuable a corporation is in caparison to stock market 21st century Mass Consumption - Answers Tech allows warehouses to be filled daily rather than monthly, inventory checked often. Requires a lot of organization, and IT. MNC's - Answers A global corporation. a. Inputs (raw materials) cheaper to produce to make $$$ b. Outputs, (customers) go where they are. Minimal Cost Seekers: Motorola, lower production costs/distribution, comp. advantage, bc they want to be competitive! Expand: Nestle, want to buy out competitors! Make's them more money rather than competing. Raw Material Seekers: Oil companies, run out in one area so have to move to the next to get it! Also will try and create a monopoly of the world supply. Trade and Domestic/International - Answers High Int'll Trade yet Domestic: Aero Space, Planes! Low Int'll Trade and Domestic: Rail Roads, Taxi, Hair-Salon. High Int'll Trade and International: Electronics, Cars. Low Int'll Trade yet International: Banking, restoration. Strategies for MNC's on where they decide to go - Answers a. Stability with politics and econ b. Constant performance and service quality. Quality and Quantity in price and performance. c. Flexibility with production and distribution incase needed. Vertical/Horizontal Integration - Answers Vertical: Alliance with suppliers and customers Horoz: Acquiring your competitors! Outsourcing - Answers Moving a corporations internal activities to outside providers. a. Administrative, like engineering