WGU C211 - Global Economics for Managers with complete solution 2022/2023 UPDATE

WGU C211 - Global Economics for Managers with complete solution 2022/2023 UPDATE Views on Globalization - correct answer New, Evolutionary, and Pendulum "New" view on globalization - correct answer A force sweeping through the world in recent times. "Evolutionary" view on globalization - correct answer A long-run historical evolution since the dawn of human history "Pendulum" view on globalization - correct answer One that swings from one extreme to another from time to time WAMBUIDOC2 Foreign Direct Investment - correct answer Direct investment in, control, and management of value-added activities in other countries Political views on FDI - correct answer Radical View, Free Market View, Pragmatic Nationalism Benefits to a country receiving FDI - correct answer Capital Inflow, Technology Spillover, Advanced Management Know-How, Job creation Costs to a country receiving FDI - correct answer Loss of Sovereignty, Adverse effects on competition, Capital outflow. How do resources and capabilities influence the competitive dynamics of a business? - correct answer Resource similarity and market commonality can yield a powerful framework for competitor analysis. Resource similarity - correct answer The extent to which a given competitor possesses strategic endowment comparable, in terms of both type and amount, to those of the focal firm. WAMBUIDOC3 How does resource similarity impact competitive dynamics? - correct answer Firms with a high degree are likely to have similar competitive actions. (Starbuck's instant coffee & McDonald's iced coffee) Classical theories of international trade - correct answer Mercantilism, Absolute advantage, and Comparative advantage Modern theory view - correct answer Dynamic Classical theory view - correct answer Static Absolute advantage - correct answer The economic advantage one nation enjoys that is superior to other nations Comparative advantage - correct answer The advantage one economic activity nation enjoys in comparison with other nations (relative, not absolute) WAMBUIDOC4 Mercantilism - correct answer A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer. Features of the product life cycle? - correct answer New, Maturing, and Standardized Strategic trade - correct answer Intervention by governments in certain industries can enhance their odds for international success. How are supply and demand related to the exchange rate of a country? - correct answer The price of a commodity, a country's currency, is fundamentally determined by this. Strong demand leads to price hikes; oversupply results in price drops. Which theory came first? - correct answer Mercantilism (although both are of the idea that governments should actively protect domestic industries from imports and vigorously promote exports)