Globalization and International Business
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Questions and Answers

What did 'global' mean at the end of the nineteenth century?

  • Defining the ability to communicate
  • The whole world (correct)
  • Spherical
  • Revolution in communications

    • What is the definition of globalization according to the text?

  • The ability to communicate and publish globally
  • Represented by the huge development of transport and communications
  • Wide range of relationships between people in many areas from different parts of the world (correct)
  • Increasing economic freedom and trade exchange among employers around the world

    • What are the factors of increasing globalization mentioned in the text?

  • Cultural exchange and development of transport
  • Revolution in communications and information control
  • Economic freedom and trade exchange
  • Increase and expansion of technology (correct)

    • What does social and cultural globalization represent according to the text?

    <p>Increasing the relations of societies and cultural exchange</p> Signup and view all the answers

    What does economic globalization aim to achieve according to the text?

    <p>Increasing economic freedom and trade exchange among employers around the world</p> Signup and view all the answers

    An entrepreneur is a person who forms and operates a business.

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

    Most businesses started by entrepreneurs are large organizations.

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

    The legal form in which a business operates does not affect the ease and cost of formation.

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

    A limited liability company provides financial responsibility for only the amount of money the owners have put into the business.

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

    A sole proprietorship allows for unlimited liabilities for the business owners.

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

    Which legal form of business organization provides financial responsibility for only the amount of money the owners have put into the business?

    <p>Joint-stock Company</p> Signup and view all the answers

    What is the major factor influencing the decision on the legal form of business organization?

    <p>Ease and cost of formation</p> Signup and view all the answers

    Which form of business organization allows a person to start a business by him- or herself or cofound a business with others?

    <p>One-person company</p> Signup and view all the answers

    Which legal form of business organization allows for unlimited liabilities for the business owners?

    <p>Sole proprietorship</p> Signup and view all the answers

    What type of businesses are most commonly started by entrepreneurs, according to the text?

    <p>Small businesses</p> Signup and view all the answers

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