BUSMHR 2000 Exam 1 Questions With Correct
Answers
• Globalization - CORRECT ANSWER✔✔-The trend toward increased cultural and
| | | | | | | | | |
economic connectedness between people, businesses, and organizations
| | | | | | |
throughout the world. | |
Global Institutions - CORRECT ANSWER✔✔-(1) -Help manage, regulate, and police
| | | | | | | | |
the global marketplace.
| | |
-Promote the establishment of multinational treaties to govern the global
| | | | | | | | | |
business system. |
- General Agreement on Tariffs and Trade (GATT), World Trade Organization
| | | | | | | | | | |
(WTO), International Monetary Fund (IMF), World Bank, United Nations (UN).
| | | | | | | | |
WTO - CORRECT ANSWER✔✔-The World Trade Organization - an international
| | | | | | | | | |
body that enforces agreements that reduce barriers to international trade;
| | | | | | | | | |
successor to the GATT | | |
IMF - CORRECT ANSWER✔✔-International Monetary Fund//a United Nations
| | | | | | | |
agency to promote trade by increasing the exchange stability of the major
| | | | | | | | | | | |
currencies
International Business - CORRECT ANSWER✔✔-The business activites necessary
| | | | | | | |
for creating, shipping, and selling goods and services across national borders.
| | | | | | | | | |
, International firm - CORRECT ANSWER✔✔-Any firm, regardless of size, that is
| | | | | | | | | | |
engaged in international business
| | |
MNE - CORRECT ANSWER✔✔-Multinational Enterprise. a global firm that has
| | | | | | | | | |
corporate units located in foreign countries.
| | | | |
Market motives - CORRECT ANSWER✔✔-the motivation of a company to seize
| | | | | | | | | | |
through trade and/or investment or stand it's ground in the face of competitive
| | | | | | | | | | | | |
international business |
Economic Motives - CORRECT ANSWER✔✔-the motivation to increase return
| | | | | | | | |
through higher revenues or lower costs through international raw materials,
| | | | | | | | | |
natural resources, a cheap labor supply for manufacturing goods
| | | | | | | |
Strategic Motives - CORRECT ANSWER✔✔-the motivations leading firms overseas
| | | | | | | | |
to capitalize on distinctive resources and capabilities developed at home. These
| | | | | | | | | | |
can include technologies and Economies of Scale.
| | | | | |
Economies of Scale - CORRECT ANSWER✔✔-as a company produces larger
| | | | | | | | | |
numbers of a particular product, the cost of each of these products goes down
| | | | | | | | | | | | |
International versus Domestic Business - CORRECT ANSWER✔✔-the variations in
| | | | | | | | |
business seen locally versus overseas including environmental dynamics and
| | | | | | | | |
operational nature |
Answers
• Globalization - CORRECT ANSWER✔✔-The trend toward increased cultural and
| | | | | | | | | |
economic connectedness between people, businesses, and organizations
| | | | | | |
throughout the world. | |
Global Institutions - CORRECT ANSWER✔✔-(1) -Help manage, regulate, and police
| | | | | | | | |
the global marketplace.
| | |
-Promote the establishment of multinational treaties to govern the global
| | | | | | | | | |
business system. |
- General Agreement on Tariffs and Trade (GATT), World Trade Organization
| | | | | | | | | | |
(WTO), International Monetary Fund (IMF), World Bank, United Nations (UN).
| | | | | | | | |
WTO - CORRECT ANSWER✔✔-The World Trade Organization - an international
| | | | | | | | | |
body that enforces agreements that reduce barriers to international trade;
| | | | | | | | | |
successor to the GATT | | |
IMF - CORRECT ANSWER✔✔-International Monetary Fund//a United Nations
| | | | | | | |
agency to promote trade by increasing the exchange stability of the major
| | | | | | | | | | | |
currencies
International Business - CORRECT ANSWER✔✔-The business activites necessary
| | | | | | | |
for creating, shipping, and selling goods and services across national borders.
| | | | | | | | | |
, International firm - CORRECT ANSWER✔✔-Any firm, regardless of size, that is
| | | | | | | | | | |
engaged in international business
| | |
MNE - CORRECT ANSWER✔✔-Multinational Enterprise. a global firm that has
| | | | | | | | | |
corporate units located in foreign countries.
| | | | |
Market motives - CORRECT ANSWER✔✔-the motivation of a company to seize
| | | | | | | | | | |
through trade and/or investment or stand it's ground in the face of competitive
| | | | | | | | | | | | |
international business |
Economic Motives - CORRECT ANSWER✔✔-the motivation to increase return
| | | | | | | | |
through higher revenues or lower costs through international raw materials,
| | | | | | | | | |
natural resources, a cheap labor supply for manufacturing goods
| | | | | | | |
Strategic Motives - CORRECT ANSWER✔✔-the motivations leading firms overseas
| | | | | | | | |
to capitalize on distinctive resources and capabilities developed at home. These
| | | | | | | | | | |
can include technologies and Economies of Scale.
| | | | | |
Economies of Scale - CORRECT ANSWER✔✔-as a company produces larger
| | | | | | | | | |
numbers of a particular product, the cost of each of these products goes down
| | | | | | | | | | | | |
International versus Domestic Business - CORRECT ANSWER✔✔-the variations in
| | | | | | | | |
business seen locally versus overseas including environmental dynamics and
| | | | | | | | |
operational nature |
