Exam 1: Globalization

Flexible labor markets allow workers to be redeployed rapidly to sectors of the economy where they are highly valued.

The three main goals of the World Trade Organization (WTO)are to help the free flow of trade,help negotiate the further opening of markets,and ________.

The World Trade Organization's dispute settlement system has the ability to penalize offending nations.

Which of the following is an example of globalization of production?

Explain how technological innovation has benefitted entrepreneurs.

________ are all goods and services sold abroad and sent out of a country.

As former competitors in many industries link up to challenge others on a worldwide basis,________ occurs.

Gentian Violet is a dye manufacturing company that uses computer networks to sell its products,service customers,and collaborate with partners.Which of the following technologies is the company engaging in this scenario?

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

Scenario: Jeans Unlimited Jeans Unlimited produces clothing for young adults.It designs its clothes at its New York headquarters and produces them at facilities located in two Southeast Asian countries.The company recently received negative press after one of its facilities was found using questionable labor practices,such as,employing children and operating in a manner that damages the environment. -Jeans Unlimited plans to set up new facilities that are designed specifically to reduce impact on the environment.The management has emphasized on recycling and reusing most of their resources.What concept is the company emphasizing on in this scenario?

Scenario: Jeans Unlimited Jeans Unlimited produces clothing for young adults.It designs its clothes at its New York headquarters and produces them at facilities located in two Southeast Asian countries.The company recently received negative press after one of its facilities was found using questionable labor practices,such as,employing children and operating in a manner that damages the environment. -Jeans Unlimited manufactures its clothing at facilities located in two Southeast Asian countries.The dispersal of manufacturing activities by the company indicates ________.

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

A business that has direct investments (in the form of marketing or manufacturing subsidiaries)abroad in several countries is called a ________.

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 ________.

________ is defined as the dispersal of production activities to locations that help a company achieve its cost-minimization or quality-maximization objectives for a good or service.

The purpose of the General Agreement on Tariffs and Trade (GATT)was to ________.

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

Globalization is characterized by ________.

Scenario: Jeans Unlimited Jeans Unlimited produces clothing for young adults.It designs its clothes at its New York headquarters and produces them at facilities located in two Southeast Asian countries.The company recently received negative press after one of its facilities was found using questionable labor practices,such as,employing children and operating in a manner that damages the environment. -Which of the following arguments against globalization,if true,could be made using Jeans Unlimited as an example?

The ________ is an agency created to provide financing for national economic development efforts.