Democracy and Production Quiz 2019
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Questions and Answers

Which of the following statements is true about the number of democracies from 1987 to 2019?

  • The total number of democracies increased steadily.
  • Democracies have only emerged in Eastern Europe.
  • There were 123 democracies in 1987.
  • The total number of democracies decreased from a peak in 2006. (correct)

    • As of 2019, 44% of countries were reported as free.

    True

    What percentage of countries were classified as not free according to Freedom House?

    26%

    The total number of democracies rose to ______ in 2019.

    <p>86</p> Signup and view all the answers

    Match the regions with their respective political status concerning democracy:

    <p>Eastern Europe = Emergence of new democracies Latin America = Emergence of new democracies Africa = Significant gains in democracy Middle East = Limited democratic growth</p> Signup and view all the answers

    What is a significant factor in the strategic role of foreign production?

    <p>Global logistics</p> Signup and view all the answers

    Corporate social responsibility is unrelated to ethical decision making.

    <p>False</p> Signup and view all the answers

    Name one type of production facility.

    <p>Manufacturing plant</p> Signup and view all the answers

    The concept of __________ refers to the interconnectedness of economies, cultures, and populations.

    <p>globalization</p> Signup and view all the answers

    Match the following terms with their definitions:

    <p>Globalization = The process of interaction and integration among people, companies, and governments worldwide Ethical Decision Making = The process of evaluating and choosing among alternatives in a manner consistent with ethical principles Production Facility = A physical location where goods are produced Corporate Social Responsibility = The practice of taking responsibility for the company's effects on environmental and social well-being</p> Signup and view all the answers

    Which of the following is NOT a hidden cost of production?

    <p>Raw material costs</p> Signup and view all the answers

    All production facilities are located within the same country as the company.

    <p>False</p> Signup and view all the answers

    Which ideology was primarily represented by the Soviet Union during the Cold War?

    <p>Collectivism</p> Signup and view all the answers

    Since 2005, individualism has remained the dominant ideology globally.

    <p>False</p> Signup and view all the answers

    What is an example of a Canadian-made product mentioned?

    <p>Skincare product</p> Signup and view all the answers

    What significant event in 2019 highlighted citizen protests against individualistic economic policies?

    <p>Chile protests</p> Signup and view all the answers

    The global financial crisis led to a reevaluation of ________'s dominance.

    <p>individualism</p> Signup and view all the answers

    Which countries experienced a resurgence of collectivist policies post-2005?

    <p>Venezuela, Bolivia, and Paraguay</p> Signup and view all the answers

    Democratic ideals replaced socialist systems globally from the late 1980s to about 2005.

    <p>True</p> Signup and view all the answers

    What ideology does the United States champion in contrast to the Soviet Union?

    <p>Individualism</p> Signup and view all the answers

    Which of the following factors can increase costs in totalitarian states compared to democratic ones?

    <p>Bribery</p> Signup and view all the answers

    Emerging markets generally present fewer risks than established markets.

    <p>False</p> Signup and view all the answers

    What are the potential benefits of entering an emerging market early?

    <p>First-mover advantages</p> Signup and view all the answers

    The ideal scenario for investment includes politically stable nations with free markets and manageable levels of ______.

    <p>inflation/debt</p> Signup and view all the answers

    Which type of risk can result from weak legal systems?

    <p>Legal risk</p> Signup and view all the answers

    Match the following types of risks with their description:

    <p>Political risk = Social unrest leading to business changes Economic risk = Poor government management affecting stability Legal risk = Weak legal systems causing contract violations</p> Signup and view all the answers

    What factors influence long-term benefits in market entry?

    <p>Market size, current wealth, and future growth prospects</p> Signup and view all the answers

    Countries that lack strong property rights typically show better growth potential.

    <p>False</p> Signup and view all the answers

    What are factor endowments?

    <p>Resources such as land, labor, and capital.</p> Signup and view all the answers

    The Leontief Paradox supports the idea that capital-rich countries should only export capital-intensive goods.

    <p>False</p> Signup and view all the answers

    What does the Product Life Cycle Theory describe?

    <p>The changes in sales locations and optimal production locations as products mature.</p> Signup and view all the answers

    Countries should export goods that make intensive use of factors that are locally ________.

    <p>abundant</p> Signup and view all the answers

    According to the content, what has changed regarding U.S. firms developing new products?

    <p>The wealth and size of the market no longer incentivizes innovation.</p> Signup and view all the answers

    Imported goods in countries like China include labor-intensive products such as technology and consulting services.

    <p>False</p> Signup and view all the answers

    What kind of products should a country with an abundance of labor export?

    <p>Labor-intensive products.</p> Signup and view all the answers

    Match the following concepts with their definitions:

    <p>Factor Endowments = Resources like land, labor, and capital used in manufacturing Leontief Paradox = Contradicts the expectation of capital-rich countries exporting capital-intensive goods Product Life Cycle Theory = Describes changes in sales and production locations as products mature Labor-Intensive Goods = Products that require more labor input than capital</p> Signup and view all the answers

    What is a specific tariff?

    <p>A fixed charge per unit of imports</p> Signup and view all the answers

    New trade theory suggests that nations cannot benefit from trade if they do not differ in resources or technology.

    <p>False</p> Signup and view all the answers

    What economic rationale does new trade theory provide for trade policy?

    <p>Proactive free trade policy</p> Signup and view all the answers

    A tax on imports is called a ______.

    <p>tariff</p> Signup and view all the answers

    Match the following tariff types with their descriptions:

    <p>Specific Tariffs = A fixed charge per unit imports Ad Valorem Tariffs = A percentage of the value imported</p> Signup and view all the answers

    Which of the following statements about tariffs is true?

    <p>Tariffs are taxes imposed on imports.</p> Signup and view all the answers

    New trade theory addresses some critiques of the Heckscher-Ohlin theory.

    <p>True</p> Signup and view all the answers

    What might allow a country to dominate the export of a good according to new trade theory?

    <p>Being among the first to produce that good</p> Signup and view all the answers

    Study Notes

    Course Information

    • Course name: COMM 211
    • Institution: Concordia
    • Booklet type: Final Exam Crash Course Booklet

    Table of Contents

    • Chapter 1: Introduction to Globalization
      • 1.1. Globalization Defined
        • 1.1.1. What is Globalization?
        • 1.1.2. Two Types of Globalization
      • 1.2. Global Institutions
        • 1.2.1. Institutions Created to Manage Global Business
      • 1.3. Drivers of Globalization
        • 1.3.1. Two Factors That Promoted Greater Globalization
      • 1.4. Changes in the Global Economy
        • 1.4.1. Global Output and Trade
        • 1.4.2. Foreign Direct Investment
        • 1.4.3. Multinational Enterprises
        • 1.4.4. Politics and World Order
      • 1.5. The Globalization Debate
        • 1.5.1. The Globalization Debate
      • 1.6. Managing Companies in the Global Economy
        • 1.6.1. Managing Global Organizations
    • Chapter 2: Country Differences in Political Economy
      • 2.1. Political Systems
        • 2.1.1. Collectivism and Individualism
        • 2.1.2. Democracy vs. Totalitarianism
      • 2.2. Economic Systems
        • 2.2.1. 3 Types of Economic Systems
      • 2.3. States in Transition
    • Chapter 3: Country Differences: Cultural
      • 3.1. What is Culture?
        • 3.1.1. Culture Defined
      • 3.2. Determinants of Culture
        • 3.2.1. 6 Determinants of Culture
      • 3.3. Culture in the Workplace
        • 3.3.1. Hofstede's 5 Cultural Dimensions
      • 3.3.2. Cultural Change
    • Chapter 4: International Trade
      • 4.1. Overview of Trade Theory
        • 4.1.1. Free Trade
      • 4.2. Trade Theories
        • 4.2.1. Mercantilism
        • 4.2.2. Absolute Advantage
        • 4.2.3. Comparative Advantage
        • 4.2.4. Heckscher-Ohlin Theory
        • 4.2.5. Product Life Cycle Theory
        • 4.2.6. New Trade Theory
      • 4.3. Instruments in Trade Policy
      • 4.4. The Case for Government Intervention
        • 4.4.1. Political Arguments for Government Intervention
        • 4.4.2. Economic Arguments for Government Intervention
      • 4.5. Implications for Business
    • Chapter 5: Regional Economic Integration
      • 5.1. Levels of Economic Integration
        • 5.1.1. Economic Integration: 5 Levels
      • 5.2. The Case FOR Regional Integration
        • 5.2.1. Why Should We Promote Regional Integration?
        • 5.2.2. What Prevent Integration?
      • 5.3. The Case AGAINST Regional Integration
      • 5.4. Regional Economic Integration in Europe
        • 5.4.1. Evolution of the European Union (EU)
        • 5.4.2. Political Systems in the EU
        • 5.4.3. The Euro
      • 5.5. Regional Economic Integration in the Americas
        • 5.5.1. NAFTA and CUSMA
        • 5.5.2. Latin America and the Caribbean
      • 5.6. Regional Economic Integration Elsewhere
    • Chapter 6: Foreign Entry Modes - Part 1: Exporting & Importing
      • 6.1. Basics of Foreign Market Entry
        • 6.1.1. Which Market to Enter?
      • 6.2. Overview of Foreign Entry Modes
      • 6.3. Importing & Exporting
      • 6.4. Improving Export Performance
      • 6.5. Export & Import Finance
      • 6.6. Countertrade
    • Chapter 7: Foreign Entry Modes - Part 2: FDI
      • 7.1. Overview of FDI
        • 7.1.1. Overview of FDI
      • 7.2. Theories of FDI
      • 7.3. Politics and FDI
        • 7.3.1. Pros & Cons of FDI
      • 7.4. Benefits and Costs of FDI
      • 7.5. Comparison of Entry Modes
      • 7.6. Greenfield Venture or Acquisition
    • Chapter 8: International Business Strategy & Marketing
      • 8.1. Profitability
      • 8.2. Pressures for Cost Reductions & Local Responsiveness
      • 8.3. Product Attributes
        • Changes to Product Attributes
      • 8.4. Distribution Strategy
      • 8.5. Communications Strategy
        • 8.5.1. Barriers to International Communication
        • 8.5.2. Push vs. Pull Strategy
      • 8.6. Pricing Strategy
        • Changes to Pricing Strategy
      • 8.7. Summary of International Marketing
    • Chapter 9: International Monetary System: Foreign Exchange Markets
      • 9.1. Overview of Foreign Exchange Markets
        • 9.1.1. Foreign Exchange Market
      • 9.2. The Nature of the Foreign Exchange Market
        • 9.2.1. The Nature of the Foreign Exchange Market
    • Chapter 10: Global Production
      • 10.1. Strategy, Production, and Supply Chain Management
        • 10.1.1. Overview of International Supply Chain Management
      • 10.2. Where to Produce?
      • 10.3. Types of Production Facilities
      • 10.4. The Strategic Role of Foreign Production
        • 10.4.1. Global Logistics
      • 10.5. Make-or-Buy Decisions
        • 10.5.1. Make-or-Buy Decisions
      • 10.6. Managing the Global Supply Chain
        • 10.6.1. Managing the Global Supply Chain
    • Chapter 11: Global Management
      • 11.1. Human Resources Management (HRM)
        • 11.1.1. Human Resources Management (HRM)
      • 11.2. Staffing Policy
        • 11.2.1. Types of Staffing Policies
      • 11.3. Expatriate Managers
        • 11.3.1. Expatriate Managers
      • 11.4. Training & Management Development
    • Chapter 12: Ethics, Corporate Social Responsibility and Sustainability
      • 12.1. Ethics in International Business
        • 12.1.1. Ethics in Business
      • 12.2. The Roots of Unethical Behaviour
      • 12.3. Steps to Ethical Decision Making
      • 12.4. Corporate Social Responsibility
        • 12.4.1. Corporate Social Responsibility

    Additional Information (Study Guide/Resources)

    • Bite-Sized Video Lessons
    • Solutions to Problems
    • 24/7 Instructor Q&A
    • Crash Courses
    • Weekly Tutorials
    • Mock Exam Walkthroughs
    • MCAT Resources

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    Related Documents

    COMM 211 Final Exam Crash Course Booklet PDF

    Description

    Test your knowledge on the status of democracies worldwide from 1987 to 2019 and various aspects of production facilities. This quiz covers key statistics, political ideologies, and the role of corporate social responsibility in ethical decision-making. Dive into the interconnectedness of economies and cultures while challenging your grasp of political and production concepts.

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