BUSI 303 Test 1 questions and answers
graded A+ already passed
the growing integration of the economies and societies of the world - correct answer
✔✔Globalization
Product or service is adapted specifically to each locality or culture to which it is marketed -
correct answer ✔✔Glocalization
-Interdependency among nations
-Transparency
-Seamless international marketplace
-Blending/merging of cultures - correct answer ✔✔Prime Characteristics of Globalization
-assimilation: progression where a minority culture eventually assumes and resembles the
characteristics of the prevailing culture - correct answer ✔✔Integration vs. Assimilation
-Maximizing production & efficiency
-Increasing market audience
-Receiving foreign direct investments - correct answer ✔✔Importance of International Trade
-Scope (territory)
-Culture (shared attributes, values, goals, and practices that characterize a particular category)
-Market factors (demographic, sociological, and economic forces that vary)
-Management skills - correct answer ✔✔Global vs Domestic business
, occurs when a firm in one nation exchanges products, services, resources, or capital with a firm
located in another nation - correct answer ✔✔International transaction
Roman peace - a period of peace and prosperity in the Roman Empire that lasted from 27 BC to
AD 180. - correct answer ✔✔Pax Romona
chartered as a way to formally recognize the legal limitations of a king's power. sometimes
credited with stimulating the growth of free trade during this time period. - correct answer
✔✔Magna Carta Libertatum
heralded the introduction of mass production, improved transportation, technological progress,
and the industrial factory system. - correct answer ✔✔Industial Revolution
era in which information is considered to be a valuable resource and its capture and distribution
generates competitive advantage to organizations. - correct answer ✔✔Information Age
"American Peace," period of relative peace in the Western world since the end of WWII in 1945,
which coincided with the dominant military and economic position of the United States -
correct answer ✔✔Pax Americana
-Barriers to trade
-Foreign investment
-Communication/transportation
-Multinational corporations - correct answer ✔✔Driving forces of globalization
Specify the requirements for state-of-the-art products, services, processes, materials and
systems, and for good conformity assessment, managerial and organizational practices. ISO
standards are designed to be implemented worldwide. ISO cargo containers aka isotainers. -
correct answer ✔✔International Organization for Standardization (ISO)
graded A+ already passed
the growing integration of the economies and societies of the world - correct answer
✔✔Globalization
Product or service is adapted specifically to each locality or culture to which it is marketed -
correct answer ✔✔Glocalization
-Interdependency among nations
-Transparency
-Seamless international marketplace
-Blending/merging of cultures - correct answer ✔✔Prime Characteristics of Globalization
-assimilation: progression where a minority culture eventually assumes and resembles the
characteristics of the prevailing culture - correct answer ✔✔Integration vs. Assimilation
-Maximizing production & efficiency
-Increasing market audience
-Receiving foreign direct investments - correct answer ✔✔Importance of International Trade
-Scope (territory)
-Culture (shared attributes, values, goals, and practices that characterize a particular category)
-Market factors (demographic, sociological, and economic forces that vary)
-Management skills - correct answer ✔✔Global vs Domestic business
, occurs when a firm in one nation exchanges products, services, resources, or capital with a firm
located in another nation - correct answer ✔✔International transaction
Roman peace - a period of peace and prosperity in the Roman Empire that lasted from 27 BC to
AD 180. - correct answer ✔✔Pax Romona
chartered as a way to formally recognize the legal limitations of a king's power. sometimes
credited with stimulating the growth of free trade during this time period. - correct answer
✔✔Magna Carta Libertatum
heralded the introduction of mass production, improved transportation, technological progress,
and the industrial factory system. - correct answer ✔✔Industial Revolution
era in which information is considered to be a valuable resource and its capture and distribution
generates competitive advantage to organizations. - correct answer ✔✔Information Age
"American Peace," period of relative peace in the Western world since the end of WWII in 1945,
which coincided with the dominant military and economic position of the United States -
correct answer ✔✔Pax Americana
-Barriers to trade
-Foreign investment
-Communication/transportation
-Multinational corporations - correct answer ✔✔Driving forces of globalization
Specify the requirements for state-of-the-art products, services, processes, materials and
systems, and for good conformity assessment, managerial and organizational practices. ISO
standards are designed to be implemented worldwide. ISO cargo containers aka isotainers. -
correct answer ✔✔International Organization for Standardization (ISO)
