Global Business FVC1 Pre-Assessment
Latest 2022/2023 Update
Which of the following is a characteristic of globalization? - ANSWERCulture
How do major international institutions facilitate globalization? - ANSWERBy creating an
international monetary system
What do countries with politicians that sustain transparency in global competition tend to
have? - ANSWERA competitive market structure
What helps make globalization sustainable? - ANSWERTransparency in government
policy
What do property rights enable buyers and sellers to do? - ANSWERConduct
transactions with the high degree of trust
How has technology bridged the global digital divide? - ANSWERBy decreasing
communication cost
Economist have argued that national policies should be implemented to help retrain and
educate workers.
How might these efforts affect the displaced workers? - ANSWERBy increasing
productivity
What is one argument against globalization? - ANSWERJobs will be lost
Which of the following may lead to an increase in the standard of living, according to
free-trade theory? - ANSWERThe right to import and export goods freely
How does foreign direct (FDI) create jobs and enhance skills of workers? - ANSWERBy
creating inflows of capital from abroad
Workers from Poland are free to work in the United Kingdom to fill shortages there.
What is this scenario an example of? - ANSWERComparative Advantage
What does trade policy have a direct impact on? - ANSWERThe value of volume of a
country's imports and exports
, What is not a rationale for managing trade? - ANSWERMercantilism
What must countries do to create regional economic integration? - ANSWERHave
special transformation
Which aspects of economic geography affect international trade? - ANSWER1.
Advantage of location
2. Reduced specialization of products
How does regional integration affect countries? - ANSWEREnhance social welfare
Which regional bloc is dedicated to South America? - ANSWERMERSCOSUR
What statement of account summarizes all transactions between one country and the
rest of the world for a given period of time? - ANSWERBalance of payments
What is a component of the forward market? - ANSWERForward rates
Which example is considered a primary source that can be used to learn about foreign
countries' cultures? - ANSWERTalking to employees who have lived or abroad
Which of the following should take place in an effort to successfully conduct business in
China? - ANSWERAttending to relationships between subordinates and superiors
(Guanx)
What is an economic ideology in which the government or state plays a strong role in
the economy, may own stakes in certain businesses, but does NOT aspire o be
classless? - ANSWERSocialism
Which risk occurs with a change in political governance? - ANSWERMacropolitical
Why is intellectual property protection critical in today's global business environment? -
ANSWERTo continue encouraging innovation, creativity and investment
What is the result if a large online retailer does NOT secure customer's financial
information? - ANSWERDecrease in public trust
What is the goal of corporate social responsibility? - ANSWERTo create a balance
between private profits and public goods
Which scandal included improperly adjusting accounting reserves to meet earning? -
ANSWERWorldCom
What can internal controls protect honest employees from? - ANSWERAccidentally
making errors
Latest 2022/2023 Update
Which of the following is a characteristic of globalization? - ANSWERCulture
How do major international institutions facilitate globalization? - ANSWERBy creating an
international monetary system
What do countries with politicians that sustain transparency in global competition tend to
have? - ANSWERA competitive market structure
What helps make globalization sustainable? - ANSWERTransparency in government
policy
What do property rights enable buyers and sellers to do? - ANSWERConduct
transactions with the high degree of trust
How has technology bridged the global digital divide? - ANSWERBy decreasing
communication cost
Economist have argued that national policies should be implemented to help retrain and
educate workers.
How might these efforts affect the displaced workers? - ANSWERBy increasing
productivity
What is one argument against globalization? - ANSWERJobs will be lost
Which of the following may lead to an increase in the standard of living, according to
free-trade theory? - ANSWERThe right to import and export goods freely
How does foreign direct (FDI) create jobs and enhance skills of workers? - ANSWERBy
creating inflows of capital from abroad
Workers from Poland are free to work in the United Kingdom to fill shortages there.
What is this scenario an example of? - ANSWERComparative Advantage
What does trade policy have a direct impact on? - ANSWERThe value of volume of a
country's imports and exports
, What is not a rationale for managing trade? - ANSWERMercantilism
What must countries do to create regional economic integration? - ANSWERHave
special transformation
Which aspects of economic geography affect international trade? - ANSWER1.
Advantage of location
2. Reduced specialization of products
How does regional integration affect countries? - ANSWEREnhance social welfare
Which regional bloc is dedicated to South America? - ANSWERMERSCOSUR
What statement of account summarizes all transactions between one country and the
rest of the world for a given period of time? - ANSWERBalance of payments
What is a component of the forward market? - ANSWERForward rates
Which example is considered a primary source that can be used to learn about foreign
countries' cultures? - ANSWERTalking to employees who have lived or abroad
Which of the following should take place in an effort to successfully conduct business in
China? - ANSWERAttending to relationships between subordinates and superiors
(Guanx)
What is an economic ideology in which the government or state plays a strong role in
the economy, may own stakes in certain businesses, but does NOT aspire o be
classless? - ANSWERSocialism
Which risk occurs with a change in political governance? - ANSWERMacropolitical
Why is intellectual property protection critical in today's global business environment? -
ANSWERTo continue encouraging innovation, creativity and investment
What is the result if a large online retailer does NOT secure customer's financial
information? - ANSWERDecrease in public trust
What is the goal of corporate social responsibility? - ANSWERTo create a balance
between private profits and public goods
Which scandal included improperly adjusting accounting reserves to meet earning? -
ANSWERWorldCom
What can internal controls protect honest employees from? - ANSWERAccidentally
making errors
