Globalization Concepts Quiz

Questions and Answers

Technological change has made the globalization of markets a reality through advances in microprocessors, telecommunications, the Internet, and ______ technology.

Transportation

Purchasing power parity (PPP) is a money conversion rate used to express the purchasing powers of different currencies in common ______.

units

Since the 1960s, there has been a rise in non-US multinationals and a growth of ______-multinationals.

mini

Globalization refers to the shift toward a more integrated and interdependent world ______

economy Signup and view all the answers

The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global ______

marketplace Signup and view all the answers

Institutions created over the past half century to help manage, regulate, and police the global marketplace included the General Agreement on Tariffs and Trade (GATT), World Trade Organization (WTO), International Monetary Fund (IMF), World Bank, United Nations (UN), and Association of Southeast Asian Nations (ASEAN). International Monetary Fund (IMF) and the World Bank were created in ______

1944 Signup and view all the answers

Culture and competitive advantage are influenced by the value systems and norms of a ______.

country Signup and view all the answers

One danger for a company going abroad is being ill-informed due to lack of cross-culture ______.

literacy Signup and view all the answers

Ethical issues in international business are rooted in the variations in political systems, law, economic development, and ______.

culture Signup and view all the answers

Ethical dilemmas faced by multinational corporations include employment practices, human rights, environmental regulations, and ______.

corruption Signup and view all the answers

Study Notes

Globalization of Markets

Technological advancements in microprocessors, telecommunications, the Internet, and other technologies have made the globalization of markets a reality.
The globalization of markets refers to the merging of historically distinct and separate national markets into one huge global market.

Purchasing Power Parity (PPP)

PPP is a money conversion rate used to express the purchasing powers of different currencies in common terms.
It enables the comparison of currencies across different countries.

Rise of Multinationals

Since the 1960s, there has been a rise in non-US multinationals and a growth of regional-multinationals.
This shift indicates a more integrated and interdependent world economy.

International Institutions

Institutions created to help manage, regulate, and police the global marketplace include:
- General Agreement on Tariffs and Trade (GATT)
- World Trade Organization (WTO)
- International Monetary Fund (IMF)
- World Bank
- United Nations (UN)
- Association of Southeast Asian Nations (ASEAN)
The IMF and World Bank were created in 1944.

Culture and Competitive Advantage

Culture and competitive advantage are influenced by the value systems and norms of a country.
Cross-cultural differences can affect business operations and decision-making.

Ethical Issues in International Business

Ethical issues in international business are rooted in the variations in political systems, law, economic development, and culture.
Multinational corporations face ethical dilemmas including:
- Employment practices
- Human rights
- Environmental regulations
- Corruption