Economic Forces & International Competitive Strategy - Chapter 3 Quiz
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Questions and Answers

Which country leads in terms of economic development?

  • India
  • Brazil
  • China (correct)
  • Japan

    • What are some advantages of India in the long run according to the text?

  • Skilled labor force
  • Lower unemployment rate
  • English fluency and a younger demographic (correct)
  • Higher GDP per capita

    • What is India's strength in terms of economic development?

  • Manufacturing
  • Services (correct)
  • Outsourcing
  • Technology

    • What are China and India competing with each other for?

    <p>Wealth and influence</p> Signup and view all the answers

    Which country has been the manufacturing powerhouse?

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

    Which classification refers to the world’s lower-income nations with less technically developed infrastructures and lower living standards?

    <p>Developing Economies</p> Signup and view all the answers

    What is the total monetary value of all goods and services produced within a nation?

    <p>Gross Domestic Product</p> Signup and view all the answers

    What does Gross National Income (GNI) represent?

    <p>Total value of all income generated by the residents of a nation</p> Signup and view all the answers

    Which factor plays an important role in determining the economy's level of production and rate of growth?

    <p>Labor supply and quality</p> Signup and view all the answers

    What does the foreign environment include?

    <p>Uncontrollable forces originating outside the home country that surround and influence the firm</p> Signup and view all the answers

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