QUESTION Which of the following has been reduced as a result of globalization? A. Volume of goods and services B. Foreign exchange transactions C. Environment and labor laws D. Differences in material culture E. Regulation of markets ANSWER D
QUESTION Automobile companies promote different car models in different countries depending on a range of factors such as demographics, local taste, local fuel costs, income levels, traffic congestion, and cultural values. This most likely demonstrates that: A. significant differences still exist among national markets. B. cultural diversity has been replaced by global uniformity. C. the […]
QUESTION Which of the following statements best supports the claim that greater uniformity replaces diversity in the context of global markets? A. Differences in business systems and legal regulations lead companies to customize their marketing strategies, product features, and operating practices to best match conditions in a particular country. B. As rival global firms follow […]
QUESTION Which of the following refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors such as labor, energy, land, and capital? A. Globalization of markets B. Containerization of production C. Dispersal of production D. Globalization of production E. […]
QUESTION West Electronic Corporation sources goods and services for its electronics products from different locations around the globe in an attempt to take advantage of differences in the cost and quality of labor and land. This practice demonstrates the: A. globalization of production. B. globalization of markets. C. dislocation of a developing nation’s economy. D. […]
QUESTION Which of the following best illustrates the globalization of production? A. Daily Diamonds Inc. buys diamonds from South Africa and exports them to India for the cutting process. B. Evan Swan, a U.S.-based fashion designer, is planning to open a flagship store in China to serve the Asian market. C. Uncle Crab, a U.K. […]
QUESTION Early outsourcing efforts were primarily confined to: A. accounting services. B. manufacturing activities. C. testing services. D. educational activities. E. consulting services. ANSWER B
QUESTION Why was the World Bank set up? A. To preserve peace through international cooperation B. To promote economic development C. To maintain order in the international monetary system D. To formulate a coordinated policy response to financial crises E. To police the world trading system ANSWER B The World Bank was created in […]
QUESTION Which of the following services CANNOT be outsourced to foreign nations? A. Debugging software B. Handling consumer queries C. Transcribing medical files D. Interpreting MRI scans E. Delivering closing arguments for a lawsuit ANSWER E
QUESTION Which of the following was established after the Uruguay Round to police the international trading system? A. United Nations B. International Monetary Fund C. Group of Twenty D. World Trade Organization E. World Bank ANSWER D The General Agreement on Tariffs and Trade (GATT) is an international treaty whose functions included policing the […]