Page 1 of 120
C211 OA EXAM COMPLETE 500 QUESTIONS AND WELL
ELABORATED SOLUTIONS LATEST UPDATE THIS YEAR
A fundamental aspect of _____ is that it effectively conducts global business by providing an
individual the right to freedom of expression and organization.
democracy
Which of the following is true of the common law system?
It has spread to all English-speaking countries and their (former) colonies.
_____ refers to a legal system based on religious teachings.
Theocratic law
The TRIPS system was designed to _____.
force firms to innovate while strictly adhering to IPR guidelines
Which of the following economies would be characterized as having a laissez faire policy?
Pure market economy
Which of the following is true of a pure market economy?
All factors of production are privately owned.
Which of the following is true of a command economy?
It does not allow private entrepreneurship.
For which of the following types of economies would the factors of production depend on the
relative distribution of market forces versus command forces?
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Mixed economy
Which of the following is true of private ownership?
It tends to force firms into liquidation due to high competition.
Which of the following is NOT a proposition of the institution-based view of global business?
Informal institutions do not govern firm behavior.
Democracy is:
A political system in which citizens elect representatives to govern the country.
Which country follows theocratic law?
Saudi Arabia
Which of the following statement is NOT true about market economy?
All factors of production should be government owned and controlled.
What are the two core propositions behind the institution-based view of global business?
Managers and firms pursue their interests and make choices rationally in situations; and where
formal constraints are unclear or fail, informal constraints will play a larger role in reducing
uncertainty and providing constancy to managers and firms.
Which economic system is the most common?
A mixed economy
The main supportive pillars of the informal institutions are _____.
normative and cognitive
_____ are represented by laws, regulations, and rules.
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Formal institutions
The _____ refers to the coercive power of governments.
regulatory pillar
Which of the following would be considered an example of formal institutions?
Laws
In which of the following examples can the role of the cognitive pillar be identified?
A firm being exposed after one of its employees turned whistleblower
The resource-based view of global business differs from the institution-based view of global
business in that the resource-based view _____.
focuses on the internal strengths on the firm
Which of the following is true of globalization according to the "pendulum view" perspective?
Globalization is a not a one-directional phenomenon.
The _____ of globalization suggests that globalization is neither recent nor one-directional
pendulum view
Which of the following is true of semiglobalization?
It is a type of globalization that lies between total isolation and total globalization.
Globalization can be viewed as:
All of these answers.
Name the three views of globalization.
3
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A recent force, a long-running evolution, and a pendulum
The _____ theory viewed international trade as a zero-sum game
mercantilism
The _____ principle advocated that governments should actively protect domestic industries
from imports and vigorously promote exports.
protectionism
Which of the following is a modern trade theory?
National competitive advantage
The _____ theory is based on the assumption that the wealth of the world is fixed.
mercantilism
Import quotas are a type of _____.
nontariff barrier
According to the theory of absolute advantage, under free trade
Each nation gains by specializing in economic activities in which a nation has absolute
advantage.
Which of the following is NOT a nontariff trade barrier (NTB)?
Cultural distance
Chile requires 50 units of resource to produce one ton of wine and 20 units of resource to
produce one ton of blueberries. France requires 30 units of resource to produce one ton of
wine and 40 units of resource to produce one ton of blueberries. Which of the following is
true?
4
SUCCESS!
C211 OA EXAM COMPLETE 500 QUESTIONS AND WELL
ELABORATED SOLUTIONS LATEST UPDATE THIS YEAR
A fundamental aspect of _____ is that it effectively conducts global business by providing an
individual the right to freedom of expression and organization.
democracy
Which of the following is true of the common law system?
It has spread to all English-speaking countries and their (former) colonies.
_____ refers to a legal system based on religious teachings.
Theocratic law
The TRIPS system was designed to _____.
force firms to innovate while strictly adhering to IPR guidelines
Which of the following economies would be characterized as having a laissez faire policy?
Pure market economy
Which of the following is true of a pure market economy?
All factors of production are privately owned.
Which of the following is true of a command economy?
It does not allow private entrepreneurship.
For which of the following types of economies would the factors of production depend on the
relative distribution of market forces versus command forces?
1
SUCCESS!
,Page 2 of 120
Mixed economy
Which of the following is true of private ownership?
It tends to force firms into liquidation due to high competition.
Which of the following is NOT a proposition of the institution-based view of global business?
Informal institutions do not govern firm behavior.
Democracy is:
A political system in which citizens elect representatives to govern the country.
Which country follows theocratic law?
Saudi Arabia
Which of the following statement is NOT true about market economy?
All factors of production should be government owned and controlled.
What are the two core propositions behind the institution-based view of global business?
Managers and firms pursue their interests and make choices rationally in situations; and where
formal constraints are unclear or fail, informal constraints will play a larger role in reducing
uncertainty and providing constancy to managers and firms.
Which economic system is the most common?
A mixed economy
The main supportive pillars of the informal institutions are _____.
normative and cognitive
_____ are represented by laws, regulations, and rules.
2
SUCCESS!
,Page 3 of 120
Formal institutions
The _____ refers to the coercive power of governments.
regulatory pillar
Which of the following would be considered an example of formal institutions?
Laws
In which of the following examples can the role of the cognitive pillar be identified?
A firm being exposed after one of its employees turned whistleblower
The resource-based view of global business differs from the institution-based view of global
business in that the resource-based view _____.
focuses on the internal strengths on the firm
Which of the following is true of globalization according to the "pendulum view" perspective?
Globalization is a not a one-directional phenomenon.
The _____ of globalization suggests that globalization is neither recent nor one-directional
pendulum view
Which of the following is true of semiglobalization?
It is a type of globalization that lies between total isolation and total globalization.
Globalization can be viewed as:
All of these answers.
Name the three views of globalization.
3
SUCCESS!
, Page 4 of 120
A recent force, a long-running evolution, and a pendulum
The _____ theory viewed international trade as a zero-sum game
mercantilism
The _____ principle advocated that governments should actively protect domestic industries
from imports and vigorously promote exports.
protectionism
Which of the following is a modern trade theory?
National competitive advantage
The _____ theory is based on the assumption that the wealth of the world is fixed.
mercantilism
Import quotas are a type of _____.
nontariff barrier
According to the theory of absolute advantage, under free trade
Each nation gains by specializing in economic activities in which a nation has absolute
advantage.
Which of the following is NOT a nontariff trade barrier (NTB)?
Cultural distance
Chile requires 50 units of resource to produce one ton of wine and 20 units of resource to
produce one ton of blueberries. France requires 30 units of resource to produce one ton of
wine and 40 units of resource to produce one ton of blueberries. Which of the following is
true?
4
SUCCESS!
