IBUS 450 Exam 1 Review Exam questions and answers Graded A+| 2026 Updated

IBUS 450 Exam 1 Review Exam questions and answers Graded A+| 2026 Updated Globalization The process of reducing barriers of trade, investment, technology, and culture to increase global integration and interdependence among countries. Goal of Globalization Promote economic integration and mutual dependence between nations Trade in Goods and Services Countries specialize by exporting what they produce best and importing what they lack, expanding consumer choice and lowering costs Foreign Direct Investment (FDI) Investment where firms have "boots on the ground" in another country; supports job creation, infrastructure, and new products Technology Transfer Sharing knowledge and innovation across borders, leading to better products, higher productivity, and skill development