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IB Globalization Advantages and Disadvantages

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IB Globalization Advantages and Disadvantages

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Questions and Answers

What is the main benefit of globalization?

Promoting economic growth and welfare (correct)

Determining wages in developed countries

Increasing exploitation of workers in less developed countries

Offering multinationals a great deal of power

What do international business activities involve?

Development of local commerce

Economic integration within a single country

Exchange of goods, services, or resources across national borders (correct)

Trade within national borders

What does international trade refer to?

Exchanging goods and services within a single country

Exporting goods to foreign countries

Importing goods from foreign countries (correct)

Creating economic interdependence within a single country

What does 'import' mean in the context of international trade?

Buying foreign products and shipping them to the home country Signup and view all the answers

What is a disadvantage of globalization?

Increase in the exploitation of workers in less developed countries Signup and view all the answers

How does international trade contribute to the global economy?

By fostering economic interdependence and allowing nations to benefit from comparative advantages Signup and view all the answers

What does export refer to in the context of international business?

Selling domestic products to foreign importers Signup and view all the answers

What is a proactive motive for engaging in international business?

Anticipating foreign market opportunities Signup and view all the answers

What is the main goal of internationalization in business?

To operate on a global scale Signup and view all the answers

What does trade policy encompass?

All measures a government can take to control foreign trade Signup and view all the answers

What is a reactive motive for entering the international market?

Competitive pressure on the domestic market Signup and view all the answers

What does 'export' offer in terms of disadvantages?

Regulatory compliance challenges Signup and view all the answers

What are the motives for international business that stem from external influences or threats?

Competitive pressure and small/saturated home markets Signup and view all the answers

What is the primary goal of proactive motives for engaging in international business?

Profit and growth goals Signup and view all the answers

What does 'internationalization' involve in terms of business operations?

Strategically expanding activities across national borders Signup and view all the answers

What does 'trade policy' aim to influence?

The flow of goods and services across borders Signup and view all the answers