International Companies and Types of Global Corporations Quiz

What has significantly reduced over the last two decades?

Communication costs

What is ICT an abbreviation for?

Information and Communication Technology

What is trade liberalization also known as?

Free trade

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

Protectionism Signup and view all the answers

What form does protectionism usually come in?

Quotas and tariffs Signup and view all the answers

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

ICT development Signup and view all the answers

What is the main focus of fair trade?

Ensuring the wellbeing of marginalized small producers 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?

Multinational companies Signup and view all the answers

What distinguishes global companies from multinational companies?

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

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

Global Companies Signup and view all the answers

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

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

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

Multinational Companies Signup and view all the answers

What is a key feature of Capitalism?

Emphasis on profit maximization and competition Signup and view all the answers

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

Adam Smith Signup and view all the answers

What is the main difference between Socialism and Capitalism?

Socialism has collective ownership while Capitalism has private ownership Signup and view all the answers

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

Outperforming competitors in profit maximization Signup and view all the answers

According to Karl Marx, what is socialism considered as?

A stepping stone toward communism Signup and view all the answers

What characterizes the Information Revolution mentioned in the text?

Reduced role of human labor due to technology Signup and view all the answers

What is the definition of economic globalization?

The movement of people and knowledge across international borders Signup and view all the answers

When did globalization begin according to the text?

15th century Signup and view all the answers

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

Developed infrastructure Signup and view all the answers

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

Reduction of trade barriers Signup and view all the answers

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

Lower transportation costs Signup and view all the answers

What aspect does economic globalization NOT involve?

Goods only Signup and view all the answers

What is a key characteristic of transnational companies?

Local market focus Signup and view all the answers

What is a significant outcome of the Agricultural Revolution?

Increase in permanent settlements Signup and view all the answers