Global Business Environment and Trade Quiz

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Questions and Answers

Which movement called for protectionist measures to support local industries and workers?

US-China Trade War
Brexit
Right Wing
Yellow Vest Movement (correct)

What is the main focus of the 'Right Wing' political ideology mentioned in the text?

Government intervention
Social equality
Reduced social hierarchies
Individualism (correct)

Which event is characterized as a move toward protectionism in the text?

Yellow Vest Movement
Globalization Debate
Brexit (correct)
US-China Trade War

What is the central concern of the US-China Trade War mentioned in the text?

Tariffs on goods (D) Signup and view all the answers

Which political ideology prioritizes social equality and egalitarianism?

'Left Wing' (A) Signup and view all the answers

Which political system emphasizes obedience towards law and government power?

Fascism (C) Signup and view all the answers

Which political economy has the most basic industries owned and operated by the government controlled by the people as a whole?

Socialism (A) Signup and view all the answers

Which risk refers to the risk of changes in government policies that can impact the daily running of a business?

Operations Risk (B) Signup and view all the answers

Which policy causes economic downturn or currency devaluation, reducing the value of money that a business can take out of the country?

Transfer Risk (B) Signup and view all the answers

In which political economy does the government own all of the productive resources of the economy and a single party controls the government?

Communism (C) Signup and view all the answers

Match the following movements with their central concerns:

Brexit = Regaining control over trade deals and borders US-China Trade War = Imposing protectionist measures Yellow Vest Movement = Protest against economic inequality and policies favoring the wealthy elite Political Economies = Emphasizing personal responsibility and individualism or prioritizing social equality and egalitarianism Signup and view all the answers

Match the following political ideologies with their key characteristics:

Right Wing = Emphasize personal responsibility, accept social hierarchies as inevitable Left Wing = Prioritize social equality, advocate for stronger government role in promoting equal rights Signup and view all the answers

Match the following policies with their impact on businesses:

Protectionism = Supporting local industries and workers Free Trade = Less restriction on international trade, may cause economic downturn or currency devaluation Signup and view all the answers

Match the following events with their impact on global trade:

Brexit = Seen as a move toward protectionism, seeking to negotiate its own trade deals US-China Trade War = Escalated trade tensions, imposing tariffs on each other's goods Signup and view all the answers

Match the following movements with their primary focus:

Yellow Vest Movement = Protesting against higher fuel taxes and economic inequality Brexit = Seeking to negotiate its own trade deals and regain control over borders Signup and view all the answers

Match the political ideology with its description:

Libertarianism = Political system emphasizing freedom, less government in public and private lives Authoritarianism = Political system emphasizing obedience towards law and government power Socialism = A political economy with most basic industries owned and operated by the government with the government controlled by the people as a whole Fascism = A political economy where individual companies and consumers make decisions in the marketplace and the government is controlled by a dictator or single party Signup and view all the answers

Match the political economy risk with its description:

Ownership Risk = Risk of governments threatening to take over a business’ operations by forcing the business to sell its operations or simply by seizing its property Operations Risk = Risk of changes in government policies that can impact the daily running of a business, for example, new taxes, import restrictions, government regulations and laws Transfer Risk = Policies and risks that cause economic downturn or the currency to devalue, reducing the value of money that a business can take out of the country Political Risk = Risk of general political instability such as breakdown of political relationships between countries, uncertain or compromised elections, frequent changes to government leadership, terrorism/radical groups, and revolutions Signup and view all the answers

Match the political ideology with its type of political economy:

Communism = A political economy in which the government owns all of the productive resources of the economy and a single party controls the government Fascism = A political economy where individual companies and consumers make decisions in the marketplace and the government is controlled by a dictator or single party Capitalism = A political economy where individual companies and consumers make decisions in the marketplace and the government is controlled by an elected government that works for the people Socialism = A political economy with most basic industries owned and operated by the government with the government controlled by the people as a whole Signup and view all the answers

Match the political ideology with its focus on political economy risk:

Libertarianism = Emphasis on Ownership Risk Authoritarianism = Emphasis on Transfer Risk Socialism = Emphasis on Political Risk Capitalism = Emphasis on Operations Risk Signup and view all the answers

Match the type of political economy risk with its impact on business operations:

Ownership Risk = Threatens to take over a business’ operations by forcing it to sell or seizing property Operations Risk = Impacts daily running of a business through changes in government policies like new taxes, import restrictions, regulations, and laws Transfer Risk = Leads to economic downturn or currency devaluation, reducing the value of money that can be taken out of the country Political Risk = Causes general political instability which can impact business profits Signup and view all the answers

Study Notes

Political Ideologies and Economies

Protectionism is a movement that calls for protectionist measures to support local industries and workers.
The main focus of the 'Right Wing' political ideology is on individual freedom and limited government intervention.

Political Economies

In a Socialist political economy, the most basic industries are owned and operated by the government, controlled by the people as a whole.
In a Communist political economy, the government owns all of the productive resources of the economy and a single party controls the government.

Political Risks

Policy risk refers to the risk of changes in government policies that can impact the daily running of a business.
Currency risk is a policy that causes economic downturn or currency devaluation, reducing the value of money that a business can take out of the country.

Matching Exercises

Protectionism: Central concern is to support local industries and workers.
Right Wing: Key characteristic is emphasis on individual freedom and limited government intervention.
Currency risk: Impact on businesses is reducing the value of money that can be taken out of the country.
US-China Trade War: Impact on global trade is a move towards protectionism.
Social Equality: Primary focus is on prioritizing social equality and egalitarianism.
Authoritarianism: Description is a political system that emphasizes obedience towards law and government power.
Policy risk: Description is the risk of changes in government policies that can impact business operations.
Right Wing: Focus on political economy risk is on individual freedom and limited government intervention.
Currency risk: Impact on business operations is reducing the value of money that can be taken out of the country.

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Description

Test your knowledge about global business environment, organizations, ethics, challenges, political economies, globalization debate, Brexit, US-China trade war, and related concepts.