Understanding Globalization: Concepts and Impacts

<p>A global fast-food chain becomes popular worldwide, displacing local cuisine. (D)</p> Signup and view all the answers

<p>Potentially limit national sovereignty by requiring adherence to international regulations. (A)</p> Signup and view all the answers

<p>Increasing barriers to cross-border trade. (A)</p> Signup and view all the answers

<p>Globalization of production. (A)</p> Signup and view all the answers

<p>The merging of historically distinct national markets into a global marketplace. (B)</p> Signup and view all the answers

<p>They can expand revenues by selling around the world. (A)</p> Signup and view all the answers

<p>Increasing trade barriers. (D)</p> Signup and view all the answers

<p>Globalization of markets by creating a global product norm. (B)</p> Signup and view all the answers

<p>Difficulty in managing geographically dispersed supply chains. (B)</p> Signup and view all the answers

<p>By offering the same basic product worldwide. (D)</p> Signup and view all the answers

<p>Multinational corporation (C)</p> Signup and view all the answers

<p>The increasing integration of national economies through trade, investment, and migration. (A)</p> Signup and view all the answers

<p>Strict enforcement of national sovereignty (C)</p> Signup and view all the answers

<p>It can result in job displacement and wage stagnation for some workers. (B)</p> Signup and view all the answers

<p>Globalization may exacerbate income inequality, benefiting some more than others. (A)</p> Signup and view all the answers

<p>By potentially diluting domestic policies due to international agreements. (D)</p> Signup and view all the answers

<p>It leads to a uniform global culture, potentially diminishing unique local traditions. (D)</p> Signup and view all the answers

<p>Autarky factors (B)</p> Signup and view all the answers

<p>Through regulations, trade agreements, and government stability. (D)</p> Signup and view all the answers

<p>They facilitate faster communication and more efficient logistics. (A)</p> Signup and view all the answers

<p>Member states perceiving that the organization does not serve their collective interests. (A)</p> Signup and view all the answers

<p>Free trade agreements. (B)</p> Signup and view all the answers

<p>Advancements in communications technology, especially the Internet (C)</p> Signup and view all the answers

<p>The creation of 'global products' with no distinct national identity (A)</p> Signup and view all the answers

<p>New democratic governments should be absolved from honoring debts incurred and mismanaged by corrupt predecessors. (D)</p> Signup and view all the answers

<p>By reducing barriers to the importation of products from the world’s poorest nations. (A)</p> Signup and view all the answers

<p>Industrial goods and materials market (A)</p> Signup and view all the answers

<p>Engaging in international trade or investment. (C)</p> Signup and view all the answers

<p>Lowering the overall cost structure or improving product quality (D)</p> Signup and view all the answers

<p>Efficient global supply chain management (B)</p> Signup and view all the answers

<p>Differences in consumer preferences. (D)</p> Signup and view all the answers

<p>Disparities in countries' cultures, politics, economies and legal frameworks. (D)</p> Signup and view all the answers

<p>Improved final product through specialized contributions (D)</p> Signup and view all the answers

<p>Despite globalization trends, many profound national differences endure. (A)</p> Signup and view all the answers

<p>A broader scope of activities being subjected to international competition. (A)</p> Signup and view all the answers

<p>They make it difficult for poor countries to export more of their agricultural production. (A)</p> Signup and view all the answers

<p>Enables access to specialized capabilities and higher quality inputs (C)</p> Signup and view all the answers

<p>A firm only needs to export or import products from other countries to engage in international business, whereas a multinational enterprise invests directly in operations in other countries. (A)</p> Signup and view all the answers

<p>Managerial challenges of coordinating a globally dispersed supply (D)</p> Signup and view all the answers

<p>A more complex understanding of what constitutes a 'national' product (B)</p> Signup and view all the answers

The shift toward a more integrated and interdependent world economy.

Merging distinct national markets into one global marketplace.

Sourcing goods and services globally to leverage cost and quality differences.

Firms can increase revenues and reduce costs by going global.

Reduced obstacles to cross-border trade and investment.

The tendency of consumers worldwide to have similar tastes and preferences.

A company that operates in multiple countries.

A company that aims to operate in multiple countries from its inception.

An entity created by multiple countries that holds authority over its member states.

Shared goals or benefits sought by a group of nations in a supranational organization.

The reduction or cancellation of debt owed by countries, especially poorer nations, to foster economic growth.

Taxes imposed on imported goods to protect domestic industries and regulate trade.

A system of trade policy that allows imports and exports between countries with minimal restrictions.

Any business that engages in trade or investment across international borders.

A company that operates in multiple countries, often with a physical presence in those areas.

Variations in customs, beliefs, and practices that exist between different countries.

The means by which countries organize and distribute resources and wealth, impacting trade and business.

The structure of government and political practices in a country, affecting international relations and business.

India plays a significant role in globalization through its service sector and IT industry.

South Korea's economy is heavily export-driven, with major corporations like Samsung and Hyundai leading globalization efforts.

Globalization can eliminate jobs and lower wages in developed nations while exploiting workers in developing nations.

Globalization has contributed to widening income inequality both within and between nations.

Globalization can lead to a loss of cultural diversity, creating a more uniform global culture.

Markets that serve universal industrial needs rather than consumer preferences.

The practice of transferring production and services to external suppliers, often in different countries.

An example of a company utilizing a global network of suppliers to enhance its products.

The outsourcing of service activities, enabled by modern communication technology.

Products created through the international outsourcing of production processes.

Formal and informal obstacles that restrict international trade between countries.

The expenses incurred when moving goods across distances, impacting global production.

Difficulties and risks faced by companies investing in businesses located in other countries.

The challenge of managing supply chains across multiple global locations.

Different categories of firms involved in global trade, like MNCs and exporters.

Factors that encourage global interconnectedness, including technology and trade policies.

Discussion about how globalization affects wealth distribution within and between countries.

Examination of how global markets influence local cultures and traditions.

Debate on how international business affects national control and decision-making.

Discussion on the environmental consequences of globalization and trade practices.

Overall context where international business operates, influenced by economic, political, and cultural factors.

How globalization influences market dynamics, competition, and consumer behavior.

Regulations and policies that influence how countries conduct international trade.