International Companies and Types of Global Corporations Quiz
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Questions and Answers

What has significantly reduced over the last two decades?

  • Import tariffs on products
  • Fuel and transportation costs
  • Communication costs (correct)
  • ICT development

    • What is ICT an abbreviation for?

  • Information and Communication Technology (correct)
  • Internet Communication Technology
  • International Communication Technology
  • Information and Computer Technology

    • What is trade liberalization also known as?

  • Foreign competition
  • Free trade (correct)
  • Government intervention
  • Protectionism

    • What policy involves giving preferential treatment to domestic producers and discriminating against foreign competitors?

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

    What form does protectionism usually come in?

    <p>Quotas and tariffs</p> Signup and view all the answers

    Which development did Carly Fiorina describe as being capable of transmitting, shaping, and manipulating various things wirelessly?

    <p><strong>ICT</strong> development</p> Signup and view all the answers

    What is the main focus of fair trade?

    <p>Ensuring the wellbeing of marginalized small producers</p> Signup and view all the answers

    Which term best describes companies that have investments in multiple countries but do not coordinate product offerings in each country?

    <p>Multinational companies</p> Signup and view all the answers

    What distinguishes global companies from multinational companies?

    <p>Global companies impose existing business models on local markets, while multinational companies do not.</p> Signup and view all the answers

    Which type of company typically markets its products to individual local markets without adapting to local norms?

    <p>Global Companies</p> Signup and view all the answers

    What is the key difference between global companies and transnational companies?

    <p>Global companies adapt to local norms, while transnational companies impose their business model.</p> Signup and view all the answers

    Which type of company acts independently in each country while still serving a larger brand model?

    <p>Multinational Companies</p> Signup and view all the answers

    What is a key feature of Capitalism?

    <p>Emphasis on profit maximization and competition</p> Signup and view all the answers

    Who referred to the result of capitalism as an 'invisible hand'?

    <p>Adam Smith</p> Signup and view all the answers

    What is the main difference between Socialism and Capitalism?

    <p>Socialism has collective ownership while Capitalism has private ownership</p> Signup and view all the answers

    In a capitalist economy, what is expected for a business to succeed?

    <p>Outperforming competitors in profit maximization</p> Signup and view all the answers

    According to Karl Marx, what is socialism considered as?

    <p>A stepping stone toward communism</p> Signup and view all the answers

    What characterizes the Information Revolution mentioned in the text?

    <p>Reduced role of human labor due to technology</p> Signup and view all the answers

    What is the definition of economic globalization?

    <p>The movement of people and knowledge across international borders</p> Signup and view all the answers

    When did globalization begin according to the text?

    <p>15th century</p> Signup and view all the answers

    Which of the following is NOT identified as a driver of economic globalization?

    <p>Developed infrastructure</p> Signup and view all the answers

    What is considered as a core element of globalization according to the IMF?

    <p>Reduction of trade barriers</p> Signup and view all the answers

    Which driver of economic globalization enables products manufactured far from the market to become more competitive?

    <p>Lower transportation costs</p> Signup and view all the answers

    What aspect does economic globalization NOT involve?

    <p>Goods only</p> Signup and view all the answers

    What is a key characteristic of transnational companies?

    <p>Local market focus</p> Signup and view all the answers

    What is a significant outcome of the Agricultural Revolution?

    <p>Increase in permanent settlements</p> Signup and view all the answers

    In the context of the Industrial Revolution, what led to an increase in productivity?

    <p>Specialization of skills</p> Signup and view all the answers

    What effect did the Industrial Revolution have on work environments?

    <p>Transition to wage laborers</p> Signup and view all the answers

    What distinguishes transnational companies from other organizations?

    <p>Local marketing powers</p> Signup and view all the answers

    How did the Agricultural Revolution contribute to population growth?

    <p>By enabling farming surpluses</p> Signup and view all the answers

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