LSUS MBA 776 Exam #3 (A. Darrat ): Accurate Solutions
For All Questions
Stages of economic development (4) Correct Answer - Require
marketers to adjust their marketing tasks accordingly, with the economic
level being the most important factor. The UN has classifications for stages of
economic development.
More-Developed Countries (MDCs)
Less-Developed Countries (LDCs)
Least-Developed Countries (LLDCs)
Newly Industrialized Countries (NICs)
Economic development is generally understood to mean Correct Answer -
an increase in national production reflected by an increase in the average per
capita gross domestic product (GDP) or gross national income (GNI).
MDCs (more-developed countries) Correct Answer - Industrialized
countries with high per capita incomes, such as Canada, England, France,
Germany, Japan, and the United States.
LDCs (less-developed countries). Correct Answer - Industrially
developing countries just entering world trade, many of which are in Asia and
Latin America, with relatively low per capita incomes.
LLDCs (least-developed countries) Correct Answer - Industrially
underdeveloped, agrarian, subsistence societies with rural populations,
extremely low per capita income levels, and little world trade involvement.
Such LLDCs are found in Central Africa and parts of Asia. Violence and the
potential for violence are often associated with LLDCs.
Newly Industrialized Countries (NICs) Correct Answer - have become
formidable exporters of many products, including steel, automobiles, machine
tools, clothing, and electronics, as well as vast markets for imported products.
LCDs industrializing quickly are commonly called NICs. (e.g., Brazil, Mexico,
South Korea, Taiwan)
- No longer use restrictive trade; now free market reforms.
, - Attract both trade and foreign direct investment
- Have become formidable exporters of many products.
BEMs (Big Emerging Markets) - (8) Correct Answer - • Are
geographically large.
• Have significant populations.
• Represent sizable markets for wide range of products.
• Have strong rates of growth or potential for significant growth.
• Have undertaken significant programs of economic reform.
• Are of major political importance within their regions.
• Are "regional economic drivers".
• Engender expansion in neighboring markets as they grow.
Commerce researchers predict that imports to the countries identified as big
emerging markets (BEMs), with half the world's population and accounting
for ___ of the industrialized world's GDP today, will soon be 50 percent of that
of the industrialized world. With a combined GDP of over $2 trillion, BEMs
already account for as _____ of world output as Germany and the United
Kingdom combined, and exports to the BEMs exceed exports to Europe and
Japan combined. Correct Answer - 25 %
large share
What should you know about the growth of BEMs? Correct Answer - 1.
Import more than smaller markets and economies of similar size.
2. Development increases demand for capital goods.
• Much of which must be imported.
Will be in industrial sectors
• Information, environmental, transportation, energy, and healthcare
technology.
• Financial services.
Examples of BEMs? Correct Answer - India, China, Brazil, Mexico, Poland,
Turkey, and South Africa
BRICS (Brazil, Russia, India, China, South Africa) Correct Answer - The
most influential emerging markets contributing significantly to global trade
and investment.
For All Questions
Stages of economic development (4) Correct Answer - Require
marketers to adjust their marketing tasks accordingly, with the economic
level being the most important factor. The UN has classifications for stages of
economic development.
More-Developed Countries (MDCs)
Less-Developed Countries (LDCs)
Least-Developed Countries (LLDCs)
Newly Industrialized Countries (NICs)
Economic development is generally understood to mean Correct Answer -
an increase in national production reflected by an increase in the average per
capita gross domestic product (GDP) or gross national income (GNI).
MDCs (more-developed countries) Correct Answer - Industrialized
countries with high per capita incomes, such as Canada, England, France,
Germany, Japan, and the United States.
LDCs (less-developed countries). Correct Answer - Industrially
developing countries just entering world trade, many of which are in Asia and
Latin America, with relatively low per capita incomes.
LLDCs (least-developed countries) Correct Answer - Industrially
underdeveloped, agrarian, subsistence societies with rural populations,
extremely low per capita income levels, and little world trade involvement.
Such LLDCs are found in Central Africa and parts of Asia. Violence and the
potential for violence are often associated with LLDCs.
Newly Industrialized Countries (NICs) Correct Answer - have become
formidable exporters of many products, including steel, automobiles, machine
tools, clothing, and electronics, as well as vast markets for imported products.
LCDs industrializing quickly are commonly called NICs. (e.g., Brazil, Mexico,
South Korea, Taiwan)
- No longer use restrictive trade; now free market reforms.
, - Attract both trade and foreign direct investment
- Have become formidable exporters of many products.
BEMs (Big Emerging Markets) - (8) Correct Answer - • Are
geographically large.
• Have significant populations.
• Represent sizable markets for wide range of products.
• Have strong rates of growth or potential for significant growth.
• Have undertaken significant programs of economic reform.
• Are of major political importance within their regions.
• Are "regional economic drivers".
• Engender expansion in neighboring markets as they grow.
Commerce researchers predict that imports to the countries identified as big
emerging markets (BEMs), with half the world's population and accounting
for ___ of the industrialized world's GDP today, will soon be 50 percent of that
of the industrialized world. With a combined GDP of over $2 trillion, BEMs
already account for as _____ of world output as Germany and the United
Kingdom combined, and exports to the BEMs exceed exports to Europe and
Japan combined. Correct Answer - 25 %
large share
What should you know about the growth of BEMs? Correct Answer - 1.
Import more than smaller markets and economies of similar size.
2. Development increases demand for capital goods.
• Much of which must be imported.
Will be in industrial sectors
• Information, environmental, transportation, energy, and healthcare
technology.
• Financial services.
Examples of BEMs? Correct Answer - India, China, Brazil, Mexico, Poland,
Turkey, and South Africa
BRICS (Brazil, Russia, India, China, South Africa) Correct Answer - The
most influential emerging markets contributing significantly to global trade
and investment.
