Virginia Tech International Business
Exam 1 questions with complete
solutions
Globalization - Markets - correct answer ✔✔ tastes and preferences
globalization - production - correct answer ✔✔ sourcing from places around the world
WTO - correct answer ✔✔ regulates rules
GATT - correct answer ✔✔ regulates trade
International monetary fund - correct answer ✔✔ maintain order in the monetary system,
return for loans
world bank - correct answer ✔✔ low interest on loans to help boost economy
united nations - correct answer ✔✔ maintain international peace and security
group of 20 (G20) - correct answer ✔✔ 19 largest world economies plus EU
What are the drivers of globalization? - correct answer ✔✔ - International trade - trade with
other countries
- foreign direct investment - getting resources from other countries
, international court of justice - correct answer ✔✔ - principal judicial organ of the UN
- located in the netherlands
The Role of Technological Change - correct answer ✔✔ - microprocessors
- moore's law
- internet
- transportation
- globalization of production (lower transportation costs)
- globalization of markets (lower cost of communication)
multinational enterprises - correct answer ✔✔ Any business that has productive activities with
2 or more countries
global economy - correct answer ✔✔ more intergrated economy
protests - correct answer ✔✔ 1999 seattle was violent
debt relief movement - correct answer ✔✔ - rich nations give to world banks for them to
distribute - to less rich countries
Collectivism - correct answer ✔✔ - collection of everyone vs independent
- Plato
socialism - correct answer ✔✔ - karl marx
- state ownership
communist - correct answer ✔✔ total dictatorship
Exam 1 questions with complete
solutions
Globalization - Markets - correct answer ✔✔ tastes and preferences
globalization - production - correct answer ✔✔ sourcing from places around the world
WTO - correct answer ✔✔ regulates rules
GATT - correct answer ✔✔ regulates trade
International monetary fund - correct answer ✔✔ maintain order in the monetary system,
return for loans
world bank - correct answer ✔✔ low interest on loans to help boost economy
united nations - correct answer ✔✔ maintain international peace and security
group of 20 (G20) - correct answer ✔✔ 19 largest world economies plus EU
What are the drivers of globalization? - correct answer ✔✔ - International trade - trade with
other countries
- foreign direct investment - getting resources from other countries
, international court of justice - correct answer ✔✔ - principal judicial organ of the UN
- located in the netherlands
The Role of Technological Change - correct answer ✔✔ - microprocessors
- moore's law
- internet
- transportation
- globalization of production (lower transportation costs)
- globalization of markets (lower cost of communication)
multinational enterprises - correct answer ✔✔ Any business that has productive activities with
2 or more countries
global economy - correct answer ✔✔ more intergrated economy
protests - correct answer ✔✔ 1999 seattle was violent
debt relief movement - correct answer ✔✔ - rich nations give to world banks for them to
distribute - to less rich countries
Collectivism - correct answer ✔✔ - collection of everyone vs independent
- Plato
socialism - correct answer ✔✔ - karl marx
- state ownership
communist - correct answer ✔✔ total dictatorship
