1|Page
WGU D270 FINAL EXAM BY KOLOVOU ACCURATE
AND FREQUENTLY TESTED QUESTIONS AND 100%
CORRECT ANSWERS|| LATEST AND COMPLETE
UPDATE WITH EXPERT VERIFIED SOLUTIONS||
SURE PASS
On Day 1, which companies were American based?
- Jaguar
- Burger King
- Trader Joe's
- American Apparel
- None - ANSWER: None
What are the 3 Econ. Issues for International Business? - ANSWER: 1. Level of
Development
2. Type of Economic System (of the country)
3. How will doing business there affect our firm?
What was notable about the Coffee Video showed on Day 1 of class? - ANSWER:
Name: Stowaway Coffee & Kitchen
- Big Cafe Culture, lacking in America
- Based on Japanese Cafe Culture
- Healthy & Light Food
- Greenery, Relaxed Atmosphere
What questions would one ask before starting a business elsewhere? - ANSWER:
- DEMOGRAPHIC: Right Consumer?
- ECONOMIC: Income levels?
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Why should we study the economic environment? - ANSWER: - Economic
Systems Shape a Market
- Better Investment Choices
- Operating Decisions
- Policy Decisions
- Better Returns/Less Risk
***Economic Systems are... (3 things) - ANSWER: (1) Complex, (2) Dynamic,
(3) Interdependent
Ex. England broke from the Euro Zone.
What are the 3 Economic Systems? - ANSWER: (1) Command, (2) Mixed, (3)
Market
Define a Command Economic System - ANSWER: - Government owns most or
all resources.
- Advocates centralized, large-scale, capital-intensive production.
- Applies the visible hand of state, central planning, and collectivism.
Define a Mixed Economic System - ANSWER: - Government and private
ownership of economic resources mixed in varying proportions.
- Advocates optimizing economic efficiency, promoting egalitarianism, and
preempting self-interest.
Define a Market Economic System - ANSWER: - Mostly private ownership of
resources.
, 3|Page
- Advocates decentralized, entrepreneurial innovation.
- Applies the invisible hand, laissez faire, property rights, and individualism.
Which Economic System has the lowest freedom? - ANSWER: Command
Which Economic System has the highest freedom? - ANSWER: Market
List philosophical anchors for the various Economic Systems and an example
country: - ANSWER: Pure Communism (North Korea), Socialism [Mixed]
(China), Centralism (France), Libertarianism [Mixed] (United States), Pure Free
Market Capitalism (New Zealand)
***Define STATE CAPITALISM - ANSWER: - Political officials shape how
assets are valued and when and where they are used.
- State owns "national champion" businesses.
- Forces the financial system to provide low-cost capital.
- Trade relations (promotes exports/limits imports).
- Reduces political freedom to expand economic prosperity.
Examples of State Capitalism? - ANSWER: China & Russia
***Define the main difference between state capitalism and socialism: the reasons
why the government intervenes in the public sphere and regulates economic
activities. - ANSWER: State Capitalism government aims at maximizing profit -
for the government.
WHEREAS
Socialism stresses social achievements and promotes collective ownership and
equality - for the people.
WGU D270 FINAL EXAM BY KOLOVOU ACCURATE
AND FREQUENTLY TESTED QUESTIONS AND 100%
CORRECT ANSWERS|| LATEST AND COMPLETE
UPDATE WITH EXPERT VERIFIED SOLUTIONS||
SURE PASS
On Day 1, which companies were American based?
- Jaguar
- Burger King
- Trader Joe's
- American Apparel
- None - ANSWER: None
What are the 3 Econ. Issues for International Business? - ANSWER: 1. Level of
Development
2. Type of Economic System (of the country)
3. How will doing business there affect our firm?
What was notable about the Coffee Video showed on Day 1 of class? - ANSWER:
Name: Stowaway Coffee & Kitchen
- Big Cafe Culture, lacking in America
- Based on Japanese Cafe Culture
- Healthy & Light Food
- Greenery, Relaxed Atmosphere
What questions would one ask before starting a business elsewhere? - ANSWER:
- DEMOGRAPHIC: Right Consumer?
- ECONOMIC: Income levels?
,2|Page
Why should we study the economic environment? - ANSWER: - Economic
Systems Shape a Market
- Better Investment Choices
- Operating Decisions
- Policy Decisions
- Better Returns/Less Risk
***Economic Systems are... (3 things) - ANSWER: (1) Complex, (2) Dynamic,
(3) Interdependent
Ex. England broke from the Euro Zone.
What are the 3 Economic Systems? - ANSWER: (1) Command, (2) Mixed, (3)
Market
Define a Command Economic System - ANSWER: - Government owns most or
all resources.
- Advocates centralized, large-scale, capital-intensive production.
- Applies the visible hand of state, central planning, and collectivism.
Define a Mixed Economic System - ANSWER: - Government and private
ownership of economic resources mixed in varying proportions.
- Advocates optimizing economic efficiency, promoting egalitarianism, and
preempting self-interest.
Define a Market Economic System - ANSWER: - Mostly private ownership of
resources.
, 3|Page
- Advocates decentralized, entrepreneurial innovation.
- Applies the invisible hand, laissez faire, property rights, and individualism.
Which Economic System has the lowest freedom? - ANSWER: Command
Which Economic System has the highest freedom? - ANSWER: Market
List philosophical anchors for the various Economic Systems and an example
country: - ANSWER: Pure Communism (North Korea), Socialism [Mixed]
(China), Centralism (France), Libertarianism [Mixed] (United States), Pure Free
Market Capitalism (New Zealand)
***Define STATE CAPITALISM - ANSWER: - Political officials shape how
assets are valued and when and where they are used.
- State owns "national champion" businesses.
- Forces the financial system to provide low-cost capital.
- Trade relations (promotes exports/limits imports).
- Reduces political freedom to expand economic prosperity.
Examples of State Capitalism? - ANSWER: China & Russia
***Define the main difference between state capitalism and socialism: the reasons
why the government intervenes in the public sphere and regulates economic
activities. - ANSWER: State Capitalism government aims at maximizing profit -
for the government.
WHEREAS
Socialism stresses social achievements and promotes collective ownership and
equality - for the people.
