BUSI 3250 Exam 1 Common Questions and Important Concepts

BUSI 3250 Exam 1 Common Questions and Important Concepts 22. Arguments Supporting Globalization: 1. Free Trade Enhances Socioeconom- ic Development 2. Free Trade Promotes More and Better Jobs 23. Volume of International Trade: •Trade in services has been growing faster than trade in merchandise for the last 20 years. 24. An International company (IC) is a company headquartered in another nation? T/F: True 25. As used in the text, the term "environment" means all the forces influenc- ing the life and development of the firm? T/F: True 26. Lobbyist who advocate for new laws that will affect the production stan- dards of a business are an example of an internal force? T/F: False 27. Those who work in the international environment find that decision making is more complex than it is in a purely domestic environment? T/F: True 28. Britain was the world's leading manufacturing country for about 1,800 years, until it was replaced by the United States at the end of the 1800s. T/F: false 29. the advent of globalization has had minimal affect on labor standards around the world. T/F: False 30. Opponents of free trade point out that globalization has contributed to a decline in environmental and health conditions. T/F: True 31. What is an example of an internal force that can affect a company's environment. T/F: Human resources 32. Gabriel industries is located near a port city which allows it to ship prod- ucts easily overseas to its international customers. The geographic location of the company is an example of an?: External force 33. Which of the environments associated with the company refers to uncon- trollable forces originating outside the home country.: International