BUS 480 -Final Exam Study Guide.

BUS 480 -Final Exam Study Guide./BUS 480 -Final Exam Study Guide. International Business Study Guide for Final Chapter 1 Globalization 1) As a result of globalization, we have been moving toward a world in which national economies are relatively self-contained entities. Answer: FALSE 2) To truly benefit from globalization, a firm needs to be a multinational conglomerate rather than a small or mid-size company. Answer: FALSE 3) In today's marketplace, outsourcing efforts are confined to manufacturing activities. Answer: FALSE 4) The World Trade Organization, the International Monetary Fund and its sister institution the World Bank, and the United Nations were all created by voluntary agreement between individual nation-states. Answer: TRUE 5) The WTO polices the world trading system, and without this organization, the globalization of markets might not be where it is today.