WGU D080 EXAMPREP REVIEW SHEET
WITH TESTED QUESTIONS AND COMPLETE
SOLUTIONS
●● What are the five types of globalization?
Answer: Economic, Political, Cultural, Environmental, and Social
●● What is international business?
Answer: Any situation where the production/distribution of
goods/services crosses country borders
●● What are the positive cultural impacts of globalization?
Answer: Awareness of international community, blending of cultures,
appreciation of languages/foods/religions, open mindsets, exchange of
ideas/values/morals
●● What are the negative cultural impacts of globalization?
Answer: Loss of uniqueness of country's culture, cultural appropriation,
younger generations may lose connection with original cultural
traditions
●● What are the 5 stages of entering a global market?
, Answer: 1) Market Entry - Companies enter new countries with home
business model 2) Production Specialization - Full production moves to
single low-cost location 3) Value Chain Disaggregation - Complete each
activity in best low-cost location 4) Value Chain Reengineering - Seek
further cost savings through labor substitution 5) Creation of New
Markets
●● Why does globalization favor democratic systems?
Answer: Because they offer: free market environment, minimal
government intervention, transparent governance, reduced corruption,
freedom of speech, independent judiciary, political stability
●● What are the key characteristics of a Traditional Economic system?
Answer: Oldest type centered around family/tribes, guided by tradition,
self-sufficient, low standard of living, no surplus production, more
environmentally sustainable, found in underdeveloped areas
●● What are the key characteristics of a Command Economy?
Answer: 100% government control on economic productions, no private
business or personal assets, government owns all businesses, controls
pricing and wages, decides production and distribution
●● What is the Harmonized Tariff Schedule (HTS)?
Answer: A document that specifies the tariff collected on every
good/service in the US, based on the International Harmonized
Commodity Coding and Classification System
WITH TESTED QUESTIONS AND COMPLETE
SOLUTIONS
●● What are the five types of globalization?
Answer: Economic, Political, Cultural, Environmental, and Social
●● What is international business?
Answer: Any situation where the production/distribution of
goods/services crosses country borders
●● What are the positive cultural impacts of globalization?
Answer: Awareness of international community, blending of cultures,
appreciation of languages/foods/religions, open mindsets, exchange of
ideas/values/morals
●● What are the negative cultural impacts of globalization?
Answer: Loss of uniqueness of country's culture, cultural appropriation,
younger generations may lose connection with original cultural
traditions
●● What are the 5 stages of entering a global market?
, Answer: 1) Market Entry - Companies enter new countries with home
business model 2) Production Specialization - Full production moves to
single low-cost location 3) Value Chain Disaggregation - Complete each
activity in best low-cost location 4) Value Chain Reengineering - Seek
further cost savings through labor substitution 5) Creation of New
Markets
●● Why does globalization favor democratic systems?
Answer: Because they offer: free market environment, minimal
government intervention, transparent governance, reduced corruption,
freedom of speech, independent judiciary, political stability
●● What are the key characteristics of a Traditional Economic system?
Answer: Oldest type centered around family/tribes, guided by tradition,
self-sufficient, low standard of living, no surplus production, more
environmentally sustainable, found in underdeveloped areas
●● What are the key characteristics of a Command Economy?
Answer: 100% government control on economic productions, no private
business or personal assets, government owns all businesses, controls
pricing and wages, decides production and distribution
●● What is the Harmonized Tariff Schedule (HTS)?
Answer: A document that specifies the tariff collected on every
good/service in the US, based on the International Harmonized
Commodity Coding and Classification System
