WGU C211 - Global Economics for Managers Exam Questions and Verified Solutions 2024

WGU C211 - Global Economics for Managers Exam Questions and Verified Solutions 2024 Views on Globalization - Answer -New, Evolutionary, and Pendulum "New" view on globalization - Answer -A force sweeping through the world in recent times. "Evolutionary" view on globalization - Answer -A long-run historical evolution since the dawn of human history "Pendulum" view on globalization - Answer -One that swings from one extreme to another from time to time Foreign Direct Investment - Answer -Direct investment in, control, and management of value-added activities in other countries Political views on FDI - Answer -Radical View, Free Market View, Pragmatic Nationalism Benefits to a country receiving FDI - Answer -Capital Inflow, Technology Spillover, Advanced Management Know-How, Job creation Costs to a country receiving FDI - Answer -Loss of Sovereignty, Adverse effects on competition, Capital outflow. How do resources and capabilities influence the competitive dynamics of a business? - Answer -Resource similarity and market commonality can yield a powerful framework for competitor analysis. Resource similarity - 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. How does resource similarity impact competitive dynamics? - 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 - Answer -Mercantilism, Absolute advantage, and Comparative advantage Modern theory view - Answer -Dynamic Classical theory view - Answer -StaticAbsolute advantage - Answer -The economic advantage one nation enjoys that is superior to other nations Comparative advantage - Answer -The advantage one economic activity nation enjoys in comparison with other nations (relative, not absolute) Mercantilism - 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? - Answer -New, Maturing, and Standardized Strategic trade - 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