WGU D080 Q&A Graded A+ Latest Update 2023/2024

WGU D080 Q&A Graded A+ Latest Update 2023/2024 Globalization Worldwide interconnections in virtually every sphere of activity including the spread of products, technology, information, and job opportunities. Globalization can result in blurred boundaries between nations, organizations, and investors trade The action of buying and selling goods and services capital Financial assets such as funds but also equipment, facilities, and other means of production outsource To obtain goods or services from an outside or foreign supplier nongovernmental organizations (NGOs) Not for profit organizations that are independent of the government and are active in humanitarian causes Which type of globalization refers to the international movement of goods, capital, and services? Economic patents Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions copyrights A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period of time trademarks Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others assets A useful or valuable thing; something you own such as building, inventory, or cash liabilities Being responsible for a debt or financial obligation, something you owe financial instrument A monetary contract between parties multinational firms A large corporation incorporated in one country which produces or sells goods or services in various countries The 5 Stages of going Global Stage 1 ~ Market Entry Stage 2 ~ Product Specialization Stage 3 ~ Value Chain Disaggregation Stage 4 ~ Value Chain Reengineering Stage 5 ~ Creation of New Markets Economies of scale A proportionate savings in costs gained by an increased level of production Economies of scope To develop efficiencies in terms of variety not volume A CEO seeks to better use the economies of scale and scope of production to increase the international company's profits. Which type of globalization driver is the CEO seeking to use? Cost A CEO seeks to better use the economies of scale and scope of production to increase the international company's profits. Which type of globalization driver is the CEO seeking to use? Cost A CEO is discussing an expansion of production of a company's highly perishable dairy line in a country that can offer low labor costs and good internet connections. The country has no highways, and roads are poorly maintained. Which challenge to international business expansion do the road conditions present? Infrastructure Six Sigma A method that provides tools for organizations to increase performance and decrease process variation Which factor of CAGE addresses differences in country size that affect barriers to globalization? Economics Gini coefficient Measures the inequality among values of a frequency distribution such as levels of income Happy Planet Index Measures how well nations are doing at achieving long, happy, sustainable lives Which argument is used by critics who wish to discourage movement towards globalization? It increases the wealth of the rich rather than the poor. gross domestic product (GDP) The total value of goods and services provided in a country in a one-year period gross national product (GNP) The total value of goods and services provided by a country, both inside and outside of its borders, in a one-year period Which type of economy is decentralized and allows firms and households to participate in global trade with minimum governmental interference? Market Which type of legal system is based on a code and focuses on how the law is applied to the facts? Civil Which law is based on tradition and precedent given that judicial rulings can stand as precedents for future cases? Common Which legal system can vary from community to community and is found in countries without strong formal justice systems? Customary In which legal system does a judge decide the applicable law for the case as a jury determines the facts? Common Common law Based on precedence. Any activity that is not clearly illegal may be acceptable. The role of the judge is to hear arguments from both parties and make a judgment. This judgment stands as precedent for future cases. Religious law based on religious beliefs. One example is a requirement in Sharia that people following Sharia may not borrow money. To compensate for the inability to take on debt, an asset-based system has been established. balance of payments The difference in total value between payments into and out of the country over a period of time fixed-rate currency exchange system When a country's currency value is fixed or pegged by a monetary authority against the value of another currency, a basket of currencies, or another measure of value World Bank ~ Encourages developing countries to borrow for development projects ~ Developmental institution ~ Financed reconstruction after wars in the 1940s. It is now focused on supporting developing countries ~ Large: 40 offices, over 10,000 staff ~ Investment bank owned by the governments of the 180 member nations ~ Borrows and loans ~ Borrowers must meet requirements to qualify for loans International Monetary Fund ~ Oversees the international monetary system ~ Cooperative institution ~ In phase one, prior to 1973, regulated international exchange rates In phase two, post-1973, provides a means for effective international currency exchange, supervises economic policies, and provides financial assistance to members ~ Small: 2,300 staff members ~ Resources come from quota subscriptions or membership fees ~ Acts more like a credit union ~ Loans to all member nations Which activity of the International Monetary Fund (IMF) impacts policymaking? Being owned and directed by the governments of the member nations What is a characteristic of the International Monetary Fund (IMF)? The IMF is a cooperative institution and provides more effective currency exchange. What was the initial purpose of the International Monetary Fund (IMF) in phase one, prior to 1973? Regulated currency exchange between nations privatization Selling government holdings to private companies deregulation The removal of regulations or restrictions in a particular industry How does the International Monetary Fund (IMF) impact international organizations and governments?