WGU D080 OA Final Questions With Complete Solutions Latest 2023/2024 Graded A+

WGU D080 OA Final Questions With Complete Solutions Latest 2023/2024 Graded A+. What are Globalization drivers? - Answer *Market *Cost *Competition *Government What is a market globalization driver? - Answer Opportunity for scale Convergence of needs What is a cost globalization driver? - Answer Deals with economies of scale and scope, Exploiting cost of factors of production What is a competitive driver in globalization? - Answer new markets increase levels of trade What is a government driver in globalization? - Answer favorable policies support for industry What is economies of scale? - Answer when the average cost of producing a good or service falls as the quantity produced increases What is economies of scope? - Answer -Lowering the initial price of production -Multi-product production What are some issues that can arise when a company moves to another country? - Answer Ethical issues, governmental policies, and economic restrictions are all likely when a company moves into an unfamiliar global space. A multinational company may also face infrastructural and technological challenges in a developing country. What is Anarchism? - Answer which contends that individuals should control political activities, and public government is both unnecessary and unwanted. What is Totalarianism? - Answer which contends that every aspect of an individual's life should be controlled and dictated by a strong central government. What is Pluralism? - Answer which asserts that both public and private groups are essential in a well-functioning political system. Although most countries are pluralistic politically, they may lean more to one extreme than to the other. What is a Authoritarian government? - Answer centralize all control in the hands of one strong leader or a strong small group of leaders who have full authority. These leaders are not democratically elected and are not politically, economically, or socially accountable to the people in the country. What is a Monarchy? - Answer A single person rules until he or she dies or abdicates the throne. Power can vary by type: absolute, constitutional, or a mix of both. What is Oligarchy? - Answer A small, elite group holds power Status not achieved through noble ancestry What is dictatorship? - Answer A single person (or a very small group of people) holds power. Wields complete and absolute authority over a government and population. What is a democracy? - Answer Citizens organize political parties and elect leaders Leaders power organized through constitution and term limits What government do other countries favor in terms of having a high success rate? - Answer Authoritarian What are the classifications of economic growth in countries? - Answer industrialized, developing, and less-developed nations. What is an industrialized nation? - Answer Industrialized nation is technology, $$$, and jobs. EXAMPLE: USA, Canada, Italy, France, Most other nations. What is a less-developed country? - Answer agriculture remains the common industry. Subsistence Farming is common and poverty is extremely high. Latin America, Asia and Africa are very high in underdeveloped countries What is a developing nation? - Answer that make the transition from economies based on agricultural and raw materials production to industrialized economies. They exhibit rising levels of education, technology, and per capita incomes. Governments in these nations have often made steady progress in improving the climate for business, which attracts business and economic investment. Examples of developing nations include India and Costa Rica.2 What is a traditional economy? - Answer Centered around a family or tribe and guided by tradition Found in hunt-gatherer and nomadic societies; everyone consumes and produces the same goods. Relies on bartering Members produce what they need with no surplus Eventually, the economy evolves to some form of currency What are the advantages of a traditional economy? - Answer There is little or no friction between members. Each member depends on each other for support. Custom and tradition dictate resource allocation. All members understand their position in society and what they are expected to contribute. It is more sustainable. What are the disadvantages of a traditional economy? - Answer It is at the mercy of the climate. There is a lower standard of living. It is vulnerable to a more efficient market or to command economies What is a command economy? - Answer an economy in which production, investment, prices, and incomes are determined centrally by a government. What are advantages of a command economy? - Answer Organizations can mobilize large amounts of resources without fear of lawsuits or environmental regulatory issues. Therefore, large projects can more easily be undertaken. An entire economy can be transformed based on a leader's vision. What are disadvantages of a command economy? - Answer Rapid change can lead to the neglect of society's needs. The production of goods and services are not tied to demand, and, if too little is produced, rationing is necessary. Following the rules, not innovation, is rewarded. Black markets or shadow economies are common The economy is less flexible and slower to react to change What is a Market economy? - Answer In a market (decentralized) economic system, leaders make decisions based on consumer demands. Goods and services are produced and distributed according to the rules of supply and demand. In other words, consumers influence how much product and services are made available through their purchasing and usage patterns.