MGT 302 Exam Exam WITH LEGIT
QUESTIONS AND WELL VERIFIED
ANSWERS(NEW!!!)(NEW!!!)
Globalization - ANSWER>>>The shift toward a more integrated and
interdependent world.
Globalization of Markets - ANSWER>>>The merging of historically distinct and
separate national markets into one huge global marketplace. Standardized
Product. Uniformity.
Globalization of Production - ANSWER>>>The sourcing of goods and services
from locations around the globe to take advantage of national differences in the
cost and quality of factors of production. Firms can compete more efficiently.
World Trade Organization - ANSWER>>>Policies world trade system, promotes
lower barriers to trade and investment. Critics: usurping national sovereignty.
International Monetary Fund - ANSWER>>>Maintains order in the international
monetary system and is the "lender of last resort"
The World Bank - ANSWER>>>Promotes economic development via low interest
loans for infrastructure projects
The United Nations - ANSWER>>>Maintains international peace and security
The G20 - ANSWER>>>forum through which major nations tried to launch
coordination policy responses to financial crises
What drives Globalization? - ANSWER>>>1. Declining Trade and Investment
Barriers
, 2. Technology changes (microprocessors & transportation)
Trends of the Global Economy - ANSWER>>>1. The share of world output
accounted for by developing nations is rising. US holds less % of trade/exports.
2. Developing countries, not just the US, have become popular destinations for
FDI
3. Rise of non-US multinationals and the number of mini-multinationals as risen.
4. Less Communism more Free Market Reforms
Globalization GOOD - ANSWER>>>1. Lower prices for goods and services
2. Greater Economic Growth
3. Higher Consumer Income, more jobs
Globalization BAD - ANSWER>>>1. Job Loss
2. Environmental Degradation
3. Cultural Imperialism of global media and MNEs
Political Economy - ANSWER>>>how the political, economic, and legal systems
of a country are interdependent
Political System - ANSWER>>>the system of government in a nation.
Collectivism vs. Individualism and Totalitarianism vs. Democracy
Collectivism - ANSWER>>>*Plato, equated with Socialism. Advocates state
ownership of basic means of production. Benefit society rather than individuals.
Communism - ANSWER>>>Socialism that can only be achieved through violent
revolution and totalitarian dictatorship.
Social Democrats - ANSWER>>>Socialism is achieved through democratic
means. State-owned enterprises have been privatized.
QUESTIONS AND WELL VERIFIED
ANSWERS(NEW!!!)(NEW!!!)
Globalization - ANSWER>>>The shift toward a more integrated and
interdependent world.
Globalization of Markets - ANSWER>>>The merging of historically distinct and
separate national markets into one huge global marketplace. Standardized
Product. Uniformity.
Globalization of Production - ANSWER>>>The sourcing of goods and services
from locations around the globe to take advantage of national differences in the
cost and quality of factors of production. Firms can compete more efficiently.
World Trade Organization - ANSWER>>>Policies world trade system, promotes
lower barriers to trade and investment. Critics: usurping national sovereignty.
International Monetary Fund - ANSWER>>>Maintains order in the international
monetary system and is the "lender of last resort"
The World Bank - ANSWER>>>Promotes economic development via low interest
loans for infrastructure projects
The United Nations - ANSWER>>>Maintains international peace and security
The G20 - ANSWER>>>forum through which major nations tried to launch
coordination policy responses to financial crises
What drives Globalization? - ANSWER>>>1. Declining Trade and Investment
Barriers
, 2. Technology changes (microprocessors & transportation)
Trends of the Global Economy - ANSWER>>>1. The share of world output
accounted for by developing nations is rising. US holds less % of trade/exports.
2. Developing countries, not just the US, have become popular destinations for
FDI
3. Rise of non-US multinationals and the number of mini-multinationals as risen.
4. Less Communism more Free Market Reforms
Globalization GOOD - ANSWER>>>1. Lower prices for goods and services
2. Greater Economic Growth
3. Higher Consumer Income, more jobs
Globalization BAD - ANSWER>>>1. Job Loss
2. Environmental Degradation
3. Cultural Imperialism of global media and MNEs
Political Economy - ANSWER>>>how the political, economic, and legal systems
of a country are interdependent
Political System - ANSWER>>>the system of government in a nation.
Collectivism vs. Individualism and Totalitarianism vs. Democracy
Collectivism - ANSWER>>>*Plato, equated with Socialism. Advocates state
ownership of basic means of production. Benefit society rather than individuals.
Communism - ANSWER>>>Socialism that can only be achieved through violent
revolution and totalitarian dictatorship.
Social Democrats - ANSWER>>>Socialism is achieved through democratic
means. State-owned enterprises have been privatized.
