Exam 1: Globalization

Scenario: Topsy Turvey Toys and Ureshi Toys Topsy Turvey Toys is a U.S.-based toy retailer that buys all its merchandise from Ureshi Toys,a Japan-based toy manufacturer with production facilities in twelve nations.Ureshi Toys markets its toys globally without modification. -The products that Ureshi Toys manufactures are examples of ________.

Critics of globalization say that global consumer-goods companies destroy ________ .

________ markets are characterized by the rural population migrating to cities for better pay and thus,overloading cities' infrastructures.

As a result of globalization,Argonia finds that its national borders are becoming less relevant.This indicates that Argonia is undergoing ________.

Identify the World Trade Organization's (WTO)three main goals and explain how the WTO differs from the General Agreement on Tariffs and Trade (GATT).

Which of the following terms applies to the sale of a particular brand of jeans manufactured in the U.S.and sold in Canadian stores?

The ________ replaced the institution of GATT while retaining all of the former GATT agreements.

Globalization tends to foster two important values,tolerance and ________.

Most companies today operate in an environment of increased transparency and scrutiny regarding their business activities.This is due to ________.

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

International firms tend to support reasonable labor and environmental laws to expand future local markets for their businesses.

Olive oil prepared in a small Italian oil press factory and sold by large supermarkets in the United States is an example of a ________.

Globalization is criticized because it ________.

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

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

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

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

Critics of globalization argue that it eliminates jobs in developing nations.

How might a company benefit from the globalization of production?

According to the opponents of globalization,which of the following occurs as a result of worker dislocation brought about by globalization?