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DAVIS D270 FINAL
EXAMINATION PRACTICE
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QUESTIONS AND CORRECT
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DETAILED ANSWERS LATEST
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UPDATE
, How does studying economic environments help managers? - ANS Make better
investment choices and operating decisions
Resource constraints require managers to... - ANS identify which countries in the
world warrant investment and which to avoid
Managers study a country's economic environment to - ANS -assess its development
-explain its performance
-estimate its potential
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Principles that help managers better assess economic environments - ANS -System
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complexity
-Market Dynamics
-Market Interdependence
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3 Broad classes of countries - ANS Developed
Emerging
Developing
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Developed Economies - ANS -High Income levels
-Extensive industrialization
-Advanced Technological infrastructure
-High standard of living
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Developed Economies are also called... - ANS -High-Income Economies
-Advanced Markets
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-Advanced Industrial Economies
-Post-Industrial Economies
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Developing Economies - ANS -Low income levels
-Slight industrialization
-Incomplete Infrastructure
-Lower standards of living
Poverty - ANS state of having
-little or no money
-few or no material possessions
-limited access to education, health, and community