WGU D771: QUANTITATIVE LITERACY PREASSESSMENT QUESTIONS WITH 100% CORRECT
ANSWERS!!
What is globalization? - (answer)When international integration arises from the interchange of world
views, products, ideas, and other aspects of cultures.
different types of Globalization - (answer)1. Economic
2. Political
3. Cultural
Advantages of Economic globalization - (answer)more trade, investments, information technology,
faster economic development, and increased social being
Disadvantages of Economic globalization - (answer)benefits the rich at the expense of the poor,
manufacturing job loss in developed countries, environmental damage, and unethical practices of labor
Advantages of Political globalization - (answer)more cooperation amount countries, formation of
international or regional organizations, NGOs
Disadvantages of Political globalization - (answer)reduce the importance of nation-states, loss of
sovereignty and power of local government
Advantages of Cultural globalization - (answer)awareness of international community
Disadvantages of Cultural globalization - (answer)loss of uniqueness of a country's culture
What is international business? - (answer)any situation where the production or distribution of goods or
services crosses country borders
What are opportunities for international business? - (answer)New and large international markets offers
possible more revenues, lower costs, and access to advanced technology
,WGU D771: QUANTITATIVE LITERACY PREASSESSMENT QUESTIONS WITH 100% CORRECT
ANSWERS!!
What are challenges for international business? - (answer)Ethical business practice concerns,
organizational structure (create new division), public relations (build customer loyalty), leaderships, and
legal and regulatory structure
What are the 5 stages of going global? - (answer)1. Market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
Market Entry - (answer)Companies enter new countries using business models similar to the ones
deployed in their home markets
Product specialization - (answer)Companies transfer the full production process of a particular product
line to a single, low-cost location and export the goods to various consumer markets
Value chain disaggregation - (answer)Companies disaggregate the production process and focus on
completing each activity in the most advantageous location
Value chain reengineering - (answer)Companies seek to further increase their cost savings by
reengineering their processes to suit local market conditions by substituting lower cost labor for capital
Creation of new markets - (answer)creates new demand due to the reduction of ticket price
What are the 4 drivers of Globalization? - (answer)1. Market
2. Cost
3. Competition
4. Government
, WGU D771: QUANTITATIVE LITERACY PREASSESSMENT QUESTIONS WITH 100% CORRECT
ANSWERS!!
Market - (answer)Opportunity for scale and convergence of needs (foreign consumers have the same
demand as domestic consumer, no need to redesign)
Cost - (answer)- Economies of scale & scope: use same production facility for multiple procedures.
- Exploiting cost of factors of production: labor cost reductions, natural resources cost reduction
Competition - (answer)New markets & increased levels of trade
Government - (answer)Favorable policies, support for the industry ((can use tax bracket to attract FDI
and subsidies (free money) can help domestic business reduce cost and charge lower price))
What did Thomas Friedman propose? - (answer)The world is flat view - the use of technology and
internet has made it easier for businesses to conduct global operation
What did Ghemawat propose? - (answer)The world is a multi-domestic world
What is CAGE analysis? - (answer)Culture, Administration, Geography, and Economics
Culture (CAGE) - (answer)Cultural difference could reduce country's trade volume
Administration (CAGE) - (answer)Administrative similar countries trade more, countries hold
membership of the same trade
Geography (CAGE) - (answer)geographical distance between countries impact trade volume
Economics (CAGE) - (answer)differences in demographics and socioeconomics conditions such as
standard of living, factors of production costs, etc.
ANSWERS!!
What is globalization? - (answer)When international integration arises from the interchange of world
views, products, ideas, and other aspects of cultures.
different types of Globalization - (answer)1. Economic
2. Political
3. Cultural
Advantages of Economic globalization - (answer)more trade, investments, information technology,
faster economic development, and increased social being
Disadvantages of Economic globalization - (answer)benefits the rich at the expense of the poor,
manufacturing job loss in developed countries, environmental damage, and unethical practices of labor
Advantages of Political globalization - (answer)more cooperation amount countries, formation of
international or regional organizations, NGOs
Disadvantages of Political globalization - (answer)reduce the importance of nation-states, loss of
sovereignty and power of local government
Advantages of Cultural globalization - (answer)awareness of international community
Disadvantages of Cultural globalization - (answer)loss of uniqueness of a country's culture
What is international business? - (answer)any situation where the production or distribution of goods or
services crosses country borders
What are opportunities for international business? - (answer)New and large international markets offers
possible more revenues, lower costs, and access to advanced technology
,WGU D771: QUANTITATIVE LITERACY PREASSESSMENT QUESTIONS WITH 100% CORRECT
ANSWERS!!
What are challenges for international business? - (answer)Ethical business practice concerns,
organizational structure (create new division), public relations (build customer loyalty), leaderships, and
legal and regulatory structure
What are the 5 stages of going global? - (answer)1. Market entry
2. product specialization
3. value chain disaggregation
4. value chain reengineering
5. creation of new markets
Market Entry - (answer)Companies enter new countries using business models similar to the ones
deployed in their home markets
Product specialization - (answer)Companies transfer the full production process of a particular product
line to a single, low-cost location and export the goods to various consumer markets
Value chain disaggregation - (answer)Companies disaggregate the production process and focus on
completing each activity in the most advantageous location
Value chain reengineering - (answer)Companies seek to further increase their cost savings by
reengineering their processes to suit local market conditions by substituting lower cost labor for capital
Creation of new markets - (answer)creates new demand due to the reduction of ticket price
What are the 4 drivers of Globalization? - (answer)1. Market
2. Cost
3. Competition
4. Government
, WGU D771: QUANTITATIVE LITERACY PREASSESSMENT QUESTIONS WITH 100% CORRECT
ANSWERS!!
Market - (answer)Opportunity for scale and convergence of needs (foreign consumers have the same
demand as domestic consumer, no need to redesign)
Cost - (answer)- Economies of scale & scope: use same production facility for multiple procedures.
- Exploiting cost of factors of production: labor cost reductions, natural resources cost reduction
Competition - (answer)New markets & increased levels of trade
Government - (answer)Favorable policies, support for the industry ((can use tax bracket to attract FDI
and subsidies (free money) can help domestic business reduce cost and charge lower price))
What did Thomas Friedman propose? - (answer)The world is flat view - the use of technology and
internet has made it easier for businesses to conduct global operation
What did Ghemawat propose? - (answer)The world is a multi-domestic world
What is CAGE analysis? - (answer)Culture, Administration, Geography, and Economics
Culture (CAGE) - (answer)Cultural difference could reduce country's trade volume
Administration (CAGE) - (answer)Administrative similar countries trade more, countries hold
membership of the same trade
Geography (CAGE) - (answer)geographical distance between countries impact trade volume
Economics (CAGE) - (answer)differences in demographics and socioeconomics conditions such as
standard of living, factors of production costs, etc.
