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BUSMHR 2000 Exam 1 Prep 2025/2026 – 300+ Questions & Correct Answers | Globalization, Culture, Political & Economic Systems, Ethics, Trade Theories & Market Policies

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This BUSMHR 2000 Exam 1 Prep 2025/2026 study guide contains over 300 detailed questions with 100% correct answers, fully aligned with the latest international business curriculum. It covers core concepts of globalization, including the globalization of production and markets, roles of global institutions (WTO, IMF, World Bank, United Nations), and drivers of international economic integration such as technological change and changing world orders. Students will explore political, economic, and legal systems, including democracy, totalitarianism, market, command, and mixed economies, along with measures like GDP, GNP, GNI, PPP, and the Human Development Index (HDI). The guide delves into cultural frameworks, including Hofstede’s dimensions, high- vs. low-context communication, social stratification, religion’s impact on business, Confucian values, and managerial orientations (ethnocentrism, polycentrism, geocentrism). It also provides a thorough review of business ethics, CSR, sustainability, and philosophical approaches such as the Friedman doctrine, cultural relativism, utilitarianism, Kantian ethics, rights theories, and justice theories. Students will master trade theories (mercantilism, absolute and comparative advantage, Heckscher-Ohlin, new trade theory, product life-cycle theory), market policies (tariffs, subsidies, quotas, voluntary export restraints, local content requirements, administrative policies), and agreements like NAFTA and the Trans-Pacific Partnership. The structured Q&A format makes this resource perfect for business undergraduates, MBA students, global trade trainees, policy advisors, and entrepreneurs preparing for assessments or applying international business concepts in practice. Keywords: globalization, WTO, IMF, World Bank, Hofstede dimensions, business ethics, CSR, FDI, trade theories, tariffs, NAFTA, Trans-Pacific Partnership, political systems, economic systems

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BUSMHR 2000 EXAM 1 2025/2026 EXAM
QUESTIONS AND ANSWERS | 100%
PASS



international business - 🧠 ANSWER ✔✔any business activity that involves the

transfer of resources, goods, services, knowledge, skills or info across national

boundaries


country level dynamics - 🧠 ANSWER ✔✔currency, inflation, interest rates,

accounting practices, cultures, social customs, laws, political stability


company level dynamics - 🧠 ANSWER ✔✔communication, coordination,

motivation, difference in organizational principles and management philosophies


multinational enterprise - 🧠 ANSWER ✔✔owns business operations in more than

one country

,subsidiary - 🧠 ANSWER ✔✔a branch of MNE operating in a foreign country


home country - 🧠 ANSWER ✔✔country in which the MNE is headquartered


host country - 🧠 ANSWER ✔✔foreign country with which the MNE is doing

business


globalization - 🧠 ANSWER ✔✔the process or shift toward increasing

interdependence and integration of national economies


globalization of production - 🧠 ANSWER ✔✔produce different parts of the

product or service in different countries


globalization of markets - 🧠 ANSWER ✔✔sell the product or service in many

countries


world trade organization - 🧠 ANSWER ✔✔organization that has helped establish

freer trade between member nations


IMF and World Bank - 🧠 ANSWER ✔✔created to foster economic stability


united nations - 🧠 ANSWER ✔✔created as a forum for political negotiations


the rise of global institutions

technological change

, changing world order


multinational corporations - 🧠 ANSWER ✔✔list the factors that led to

globalization


political economy - 🧠 ANSWER ✔✔the interdependence of political, economic,

and legal systems


ownership risk - 🧠 ANSWER ✔✔political threats the ownership from

nationalization or seizure


operational risk - 🧠 ANSWER ✔✔threats governments impose for "changing the

rules of the game"


transfer risk - 🧠 ANSWER ✔✔impediments to the transfer of production factors,

products or capital


collectivism - 🧠 ANSWER ✔✔concerned with the needs of the overall society or

group, rather than those of the individual


individualism - 🧠 ANSWER ✔✔guarantee individual freedom and expression


democracy - 🧠 ANSWER ✔✔government by people exercised directly or through

elected representatives



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STATEMENT. ALL RIGHTS RESERVED



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