International Business Exam With
Detailed Questions And Correct
Answers|100%guaranteed Pass
Globalization -ANSWER Movement from thinking about markets in terms of geographic
areas to thinking about them as something that transcends borders; the shift towards a
more integrated and interdependent world economy
World-wide sourcing -ANSWER All types of businesses are getting inputs from several
global locations
Globalization of markets -ANSWER Merging of historically distinct and separate national
markets into one huge global market;
Globalization of production -ANSWER Sourcing of goods and services from locations
around the globe to take advantage of national differences in cost and quality factors of
production
Factors of production -ANSWER inputs into the productive processes of a firm, including
labor management, land, capital, and technological know how
General Agreement on Tariffs and Trade (GATT) -ANSWER International treaty that
committed signatures to lowering barriers to the free flow of goods across national
borders and led to the WTO
World Trade Organization -ANSWER Primarily responsible for policing the world trading
system and making sure nation-states adhere to the rules laid down in trade treaties
signed by WTO member states (97% of world trade countries)
International Monetary Fund -ANSWER International institution set up to maintain order in
the international monetary system
United Nations -ANSWER International organization made up of 193 countries to
promote peace, security, and cooperation
G20 -ANSWER Comprises the finance ministers and central bank governors of the 19
largest economies in the world, plus representatives from the EU and European Central
Bank
International Trade -ANSWER Occurs when a firm exports goods or services to
consumers in another country
, Foreign Direct Investment (FDI) -ANSWER Direct investment in business operations in a
foreign country
Two factors that underlie trend towards greater globalization -ANSWER Declining barriers
to international trade and technological chanve
Moore's Law -ANSWER The power of microprocessor technology doubles and its costs
of production fall in half every 18 months
Stock of FDI -ANSWER The total accumulated value of foreign-owned assets at a given
time
Multinational Enterprise -ANSWER A firm that owns business operations in more than
one country
International Business -ANSWER Any firm that engages in international trade or
investment
Two major forces in the global economy -ANSWER trade and investment
Political economy -ANSWER The political, economic, and legal systems of a country
Political system -ANSWER System of government in a nation
Collectivism -ANSWER A political system that emphasizes collective goals as opposed to
individual goals
Socialist -ANSWER Someone who believes in public ownership of the means of
production for the common good of society
Communists -ANSWER Those who believe socialism can be achieved only through
revolution and totalitarian dictatorship
Social Democrats -ANSWER Those committed to achieving socialism by democratic
means
Privitization -ANSWER The sale of state-owned enterprises to private investors
Individualism -ANSWER An emphasis on the importance of guaranteeing individual
freedom and self-expression
Democracy -ANSWER Political system in which government is by the people, exercised
either directly or through elected representatives
Detailed Questions And Correct
Answers|100%guaranteed Pass
Globalization -ANSWER Movement from thinking about markets in terms of geographic
areas to thinking about them as something that transcends borders; the shift towards a
more integrated and interdependent world economy
World-wide sourcing -ANSWER All types of businesses are getting inputs from several
global locations
Globalization of markets -ANSWER Merging of historically distinct and separate national
markets into one huge global market;
Globalization of production -ANSWER Sourcing of goods and services from locations
around the globe to take advantage of national differences in cost and quality factors of
production
Factors of production -ANSWER inputs into the productive processes of a firm, including
labor management, land, capital, and technological know how
General Agreement on Tariffs and Trade (GATT) -ANSWER International treaty that
committed signatures to lowering barriers to the free flow of goods across national
borders and led to the WTO
World Trade Organization -ANSWER Primarily responsible for policing the world trading
system and making sure nation-states adhere to the rules laid down in trade treaties
signed by WTO member states (97% of world trade countries)
International Monetary Fund -ANSWER International institution set up to maintain order in
the international monetary system
United Nations -ANSWER International organization made up of 193 countries to
promote peace, security, and cooperation
G20 -ANSWER Comprises the finance ministers and central bank governors of the 19
largest economies in the world, plus representatives from the EU and European Central
Bank
International Trade -ANSWER Occurs when a firm exports goods or services to
consumers in another country
, Foreign Direct Investment (FDI) -ANSWER Direct investment in business operations in a
foreign country
Two factors that underlie trend towards greater globalization -ANSWER Declining barriers
to international trade and technological chanve
Moore's Law -ANSWER The power of microprocessor technology doubles and its costs
of production fall in half every 18 months
Stock of FDI -ANSWER The total accumulated value of foreign-owned assets at a given
time
Multinational Enterprise -ANSWER A firm that owns business operations in more than
one country
International Business -ANSWER Any firm that engages in international trade or
investment
Two major forces in the global economy -ANSWER trade and investment
Political economy -ANSWER The political, economic, and legal systems of a country
Political system -ANSWER System of government in a nation
Collectivism -ANSWER A political system that emphasizes collective goals as opposed to
individual goals
Socialist -ANSWER Someone who believes in public ownership of the means of
production for the common good of society
Communists -ANSWER Those who believe socialism can be achieved only through
revolution and totalitarian dictatorship
Social Democrats -ANSWER Those committed to achieving socialism by democratic
means
Privitization -ANSWER The sale of state-owned enterprises to private investors
Individualism -ANSWER An emphasis on the importance of guaranteeing individual
freedom and self-expression
Democracy -ANSWER Political system in which government is by the people, exercised
either directly or through elected representatives
