Exam 1: Globalization

Critics of globalization believe the overall gains that accrue to national economies are worth the lost livelihoods of some workers.

Some nations encourage ________ because of recent resistance to worldwide trade agreements.

A characteristic of the world's least-global nations is low levels of corruption.

Which of the following refers to the use of computer networks to purchase,sell,or exchange products; service customers; and collaborate with partners?

Describe the global business environment and each of its four elements.

The rise of a new international entity called the ________ suggests that any company,regardless of age,experience,and resources,can engage in international business.

An established consumer market that primarily comprises the middle class and possesses efficient infrastructure is characteristic of ________ markets.

The population of a(n)________ market is mostly rural and is characterized by poor infrastructure with little credit or collateral.

Which of the following accurately identifies a difference between GATT and the WTO?

Two major forces that underlie the expansion of globalization are falling barriers to trade and investment,and ________.

Scenario: Donna Bader, Globalization Opponent Donna Bader spent her final year at college studying the effect of various economic factors on the economy of developing nations. Based on the results of her study, she concluded that globalization does these countries more harm than good. -Upon what assumption does Donna's conclusion rest? Donne assumes that ________.

The rules of the international monetary system are enforced by the World Bank.

A special region in which companies can engage in tariff-free importing and exporting is called a(n)________.

Export-processing zones are special areas in which companies engage in tariff-free importing and exporting.

Explain how technological innovation has benefited entrepreneurs.

GATT's contribution to trade liberalization made possible the expansion of world trade in the second half of the twentieth century.

Opponents argue that globalization ________.

Which of the following terms is used to refer to widespread job turnover throughout an economy?

The goal of a free trade agreement is to abolish all tariffs among member countries.

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs indicates ________.