Question 1

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

Accepted Answer

A) Canadian consumers who import food products from Australia 
B) A German company which sells car components to British car makers 
C) A U.S.company that builds a computer hardware manufacturing facility in India 
D) A Swiss watch manufacturer that builds a manufacturing facility in Switzerland 
A) Canadian consumers who import food products from Australia 
B) A German company which sells car components to British car makers 
C) A U.S.company that builds a computer hardware manufacturing facility in India 
D) A Swiss watch manufacturer that builds a manufacturing facility in Switzerland

Question 2

Which of the following actions can be adopted by developed nations to lessen the negative effects of globalization?

Accepted Answer

A) restrict the import of goods from developing countries 
B) slash agricultural subsidies that hurt the exports of developing nations 
C) discontinue foreign-aid programs to developing countries 
D) pressurize developing nations to fend for themselves in matters of health and education 
A) restrict the import of goods from developing countries 
B) slash agricultural subsidies that hurt the exports of developing nations 
C) discontinue foreign-aid programs to developing countries 
D) pressurize developing nations to fend for themselves in matters of health and education

Question 3

The term "globalization of production" refers to convergence in buyer preferences in markets around the world.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) preferential trade area 
B) export-processing zone 
C) customs union 
D) economic union 
A) preferential trade area 
B) export-processing zone 
C) customs union 
D) economic union

Question 5

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?

Accepted Answer

A) Globalization results in the government making nearly all economy-related decisions. 
B) Globalization permits the use of unethical practices as long as it brings the company profits. 
C) Globalization causes companies to produce goods in nations with the most lenient labor regulations. 
D) Globalization places least emphasis on corporate social responsibility. 
A) Globalization results in the government making nearly all economy-related decisions. 
B) Globalization permits the use of unethical practices as long as it brings the company profits. 
C) Globalization causes companies to produce goods in nations with the most lenient labor regulations. 
D) Globalization places least emphasis on corporate social responsibility.

Question 6

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?

Accepted Answer

A) sustainability 
B) standardization 
C) ethnocentricity 
D) industrialization 
A) sustainability 
B) standardization 
C) ethnocentricity 
D) industrialization

Question 7

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.
-Topsy Turvey Toys buying its merchandise from Ureshi Toys is an example of ________.

Accepted Answer

A) importing 
B) exporting 
C) outsourcing 
D) insourcing 
A) importing 
B) exporting 
C) outsourcing 
D) insourcing

Question 8

Her argument is vulnerable to criticism because it fails to ________.

Accepted Answer

A) quantify the disparity between high-income and low-income nations 
B) show that political and cultural factors have been taken into account 
C) demonstrate the importance of market flexibility 
D) highlight the environmental effect of globalization 
A) quantify the disparity between high-income and low-income nations 
B) show that political and cultural factors have been taken into account 
C) demonstrate the importance of market flexibility 
D) highlight the environmental effect of globalization

Question 9

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

Accepted Answer

A) True 
 B)False

Question 10

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 ________.

Accepted Answer

A) measure the extent of globalization across the world 
B) settle trade disputes between its members 
C) accelerate technological innovation 
D) fund small traders in developing nations 
A) measure the extent of globalization across the world 
B) settle trade disputes between its members 
C) accelerate technological innovation 
D) fund small traders in developing nations

Question 11

Any commercial transaction that crosses the borders of two or more nations is known as ________.

Accepted Answer

A) domestic marketing 
B) market segmentation 
C) international business 
D) global manufacturing 
A) domestic marketing 
B) market segmentation 
C) international business 
D) global manufacturing

Question 12

Opponents argue that globalization ________.

Accepted Answer

A) eliminates manufacturing jobs in developed nations 
B) generates labor market flexibility in developed nations 
C) brings an end to practices like outsourcing 
D) slows down the employment rate in developing nations 
A) eliminates manufacturing jobs in developed nations 
B) generates labor market flexibility in developed nations 
C) brings an end to practices like outsourcing 
D) slows down the employment rate in developing nations

Question 13

Supporters affirm that globalization ________.

Accepted Answer

A) brings an end to practices like outsourcing 
B) causes worker dislocation that gradually lowers wages 
C) increases wealth and efficiency in all countries 
D) curbs market flexibility in developed nations 
A) brings an end to practices like outsourcing 
B) causes worker dislocation that gradually lowers wages 
C) increases wealth and efficiency in all countries 
D) curbs market flexibility in developed nations

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

The role of the World Bank is to provide financing for national economic development efforts.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements is true of developing countries that have embraced globalization?

Accepted Answer

A) The countries have experienced an increase in life expectancy. 
B) As a result of extensive commercialism,there has been a decline in personal income. 
C) Relying upon developed countries for technology has rendered their talent pool stagnant. 
D) Their rich cultural diversity hasn't been affected by exposure to new cultures. 
A) The countries have experienced an increase in life expectancy. 
B) As a result of extensive commercialism,there has been a decline in personal income. 
C) Relying upon developed countries for technology has rendered their talent pool stagnant. 
D) Their rich cultural diversity hasn't been affected by exposure to new cultures.

Question 17

A major flaw of the original General Agreement on Tariffs and Trade (GATT)was that it lacked the power to ________.

Accepted Answer

A) displace the WTO 
B) reduce nontariff barriers to international trade 
C) govern exchange rates 
D) enforce world trade rules 
A) displace the WTO 
B) reduce nontariff barriers to international trade 
C) govern exchange rates 
D) enforce world trade rules

Question 18

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

Accepted Answer

A) the homogenization of markets 
B) societal conformity 
C) free trade areas 
D) cultural diversity 
A) the homogenization of markets 
B) societal conformity 
C) free trade areas 
D) cultural diversity

Question 19

Goods and services purchased abroad and brought into a country are called ________.

Accepted Answer

A) gross domestic products 
B) exports 
C) gross national products 
D) imports 
A) gross domestic products 
B) exports 
C) gross national products 
D) imports

Question 20

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.
-Ureshi Toys selling its products to Topsy Turvey Toys is an example of ________.

Accepted Answer

A) outsourcing 
B) insourcing 
C) exporting 
D) importing 
A) outsourcing 
B) insourcing 
C) exporting 
D) importing

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

Which of the following actions can be adopted by developed nations to lessen the negative effects of globalization?

The term "globalization of production" refers to convergence in buyer preferences in markets around the world.

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

Her argument is vulnerable to criticism because it fails to ________.

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

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 ________.

Any commercial transaction that crosses the borders of two or more nations is known as ________.

Opponents argue that globalization ________.

Supporters affirm that globalization ________.

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

The role of the World Bank is to provide financing for national economic development efforts.

Which of the following statements is true of developing countries that have embraced globalization?

A major flaw of the original General Agreement on Tariffs and Trade (GATT)was that it lacked the power to ________.

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

Goods and services purchased abroad and brought into a country are called ________.

Cross-Cultural Business

Political Economy and Ethics

Economic Development of Nations

International Trade Theory

Political Economy of Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Monetary System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters

Exam 1: Globalization

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

Which of the following actions can be adopted by developed nations to lessen the negative effects of globalization?

The term "globalization of production" refers to convergence in buyer preferences in markets around the world.

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

Her argument is vulnerable to criticism because it fails to ________.

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

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 ________.

Any commercial transaction that crosses the borders of two or more nations is known as ________.

Opponents argue that globalization ________.

Supporters affirm that globalization ________.

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

The role of the World Bank is to provide financing for national economic development efforts.

Which of the following statements is true of developing countries that have embraced globalization?

A major flaw of the original General Agreement on Tariffs and Trade (GATT)was that it lacked the power to ________.

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

Goods and services purchased abroad and brought into a country are called ________.

Cross-Cultural Business

Political Economy and Ethics

Economic Development of Nations

International Trade Theory

Political Economy of Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Monetary System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters