Podcast
Questions and Answers
Which of the following best describes globalization?
Which of the following best describes globalization?
- The advancement of modern communications technology for service activities
- The merging of historically distinct and separate national markets into one global marketplace (correct)
- The sourcing of goods to take advantage of differences in cost and quality of factors of production
- The existence of significant differences between national markets
What types of products are considered global in nature?
What types of products are considered global in nature?
- Products that have significant differences between national markets
- Products that are sourced locally
- Products that serve universal needs (correct)
- Products that are outsourced for manufacturing
What is the main purpose of outsourcing in the globalization of production?
What is the main purpose of outsourcing in the globalization of production?
- To ensure competitors remain unchanged among nations
- To take advantage of differences in cost and quality of factors of production (correct)
- To source goods locally to support national markets
- To limit the advancement of modern communications technology
What are the factors of production that are considered in the globalization of production?
What are the factors of production that are considered in the globalization of production?
What was early outsourcing primarily confined to?
What was early outsourcing primarily confined to?
What has advanced outsourcing today for service activities?
What has advanced outsourcing today for service activities?
What is the main difference between national markets in the context of globalization?
What is the main difference between national markets in the context of globalization?
What is the primary driver of the globalization of production?
What is the primary driver of the globalization of production?
What is the main impact of globalization on competitors among nations?
What is the main impact of globalization on competitors among nations?
What is the scope of the global marketplace in the context of globalization?
What is the scope of the global marketplace in the context of globalization?
Which factor has contributed to the rise of mini-multinationals in international trade?
Which factor has contributed to the rise of mini-multinationals in international trade?
Which region has experienced a decrease in debt and inflation, attracting more private investors and expanding economies?
Which region has experienced a decrease in debt and inflation, attracting more private investors and expanding economies?
Why do critics argue that globalization leads to a decline in labor income?
Why do critics argue that globalization leads to a decline in labor income?
What is one of the main arguments made by supporters of globalization?
What is one of the main arguments made by supporters of globalization?
What is the main concern raised by critics of globalization in relation to labor and environmental regulations?
What is the main concern raised by critics of globalization in relation to labor and environmental regulations?
What is one of the factors that critics suggest has contributed to the widening gap between rich and poor nations?
What is one of the factors that critics suggest has contributed to the widening gap between rich and poor nations?
Why do critics argue that the power of supranational organizations is a threat to national sovereignty?
Why do critics argue that the power of supranational organizations is a threat to national sovereignty?
What is one of the challenges in managing international business compared to managing purely domestic business?
What is one of the challenges in managing international business compared to managing purely domestic business?
What does the text suggest is the main reason for the decline in labor income for unskilled workers?
What does the text suggest is the main reason for the decline in labor income for unskilled workers?
What has contributed to the growth of medium and small sized businesses in international trade?
What has contributed to the growth of medium and small sized businesses in international trade?
Which organization polices the world trading system and ensures nation-states adhere to the rules?
Which organization polices the world trading system and ensures nation-states adhere to the rules?
What is the role of the International Monetary Fund (IMF)?
What is the role of the International Monetary Fund (IMF)?
Which organization focuses on making low-interest loans to cash-strapped governments in poor nations that wish to undertake significant infrastructure investments?
Which organization focuses on making low-interest loans to cash-strapped governments in poor nations that wish to undertake significant infrastructure investments?
How many member countries are there in the United Nations (UN)?
How many member countries are there in the United Nations (UN)?
What are the four basic purposes of the UN charter?
What are the four basic purposes of the UN charter?
Which group compromises finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank?
Which group compromises finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank?
What are the drivers of globalization?
What are the drivers of globalization?
What is the single most important innovation since World War II in terms of communications?
What is the single most important innovation since World War II in terms of communications?
What does Moore's law predict about microprocessor technology?
What does Moore's law predict about microprocessor technology?
What has significantly reduced cultural distance and brought some convergence of consumers' tastes and preferences?
What has significantly reduced cultural distance and brought some convergence of consumers' tastes and preferences?
