Reviewer for OA Flashcards by Janet Sauni

Which human resource approach leads to more fluid movement among employees and creates diversity in the workforce?
a. Ethnocentric
b. Polycentric
c. Geocentric
d. Regiocentric

C. Geocentric

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Worldwide interconnections in virtually every sphere of activity, including the spread of products, technology, information, and job opportunities, describe which process?
a. Localization
b. Globalization
c. Nationalization
d. Regionalization

b. Globalization

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The action of buying and selling goods and services is referred to as:
a. Bartering
b. Leasing
c. Trade
d. Sharing

c. Trade

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Financial assets such as funds, equipment, facilities, and other means of production are known as:
a. Liabilities
b. Equity
c. Debt
d. Capital

d. Capital

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To obtain goods or services from an outside or foreign supplier is known as:
a. Insourcing
b. Licensing
c. Franchising
d. Outsourcing

d. Outsourcing

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Not-for-profit organizations that are independent of the government and are active in humanitarian causes are called:
a. Social enterprises
b. Nongovernmental organizations (NGOs)
c. Cooperatives
d. Public enterprises

b. Nongovernmental organizations (NGOs)

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Which type of globalization refers to the international movement of goods, capital, and services?
a. Political
b. Economic
c. Cultural
d. Technological

b. Economic

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What term protects inventions and improvements to existing inventions for a limited period in exchange for detailed public disclosure?
a. Trademarks
b. Patents
c. Copyrights
d. Trade secrets

b. Patents

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A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period is called:
a. Patent
b. Trademark
c. Copyright
d. License

a. Patent

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Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish goods of one manufacturer or seller is called:
a. Patent
b. Copyright
c. Trademark
d. Franchise

c. Trademark

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A useful or valuable thing, such as a building, inventory, or cash, is called:
a. Liability
b. Asset
c. Equity
d. Revenue

b. Asset

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Being responsible for a debt or financial obligation is called:
a. Liability
b. Asset
c. Credit
d. Equity

a. Liability

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A monetary contract between parties is known as:
a. Bond
b. Loan
c. Equity
d. Financial instrument

d. Financial instrument

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A large corporation incorporated in one country that produces or sell goods or services in various countries is referred to as:
a. National firm
b. International franchise
c. Multinational firm
d. Local corporation

c. Multinational Firm

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The first stage of going global, when companies enter new countries using business models similar to those deployed in their home markets, is called
a. Product specialization
b. Market entry
c. Value chain disaggregation
d. Value chain reengineeribg

b. market entry

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A proportionate saving in costs gained by an increased level of production is known as:
a. Economies of scope
b. Economies of scale
c. Cost leadership
d. Vertical integration

b. Economies of scale

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Developing efficiencies in terms of variety rather than volume is referred to as:
a. Economies of scale
b. Economies of scope
c. Veritical integration
d. Cost leadership

b. Economies of scope

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Which type of globalization driver is a CEO using if they focus on economies of scale and scope to increase profits?
a. Market
b. Cost
c. Competition
d. Government

b. Cost

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What challenge to international business expansion is presented when a country offers low labor costs but has poor road conditions?
a. Tariffs
b. Infrastructure
c. Political Risk
d. Legal barriers

b. Infrastructure

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A method that provides tools for organizations to increase performance and decrease process variation is called:
a. Lean Manufacturing
b. Total Quality Management (TQM)
c. Six Sigma
d. Kaizen

c. Six sigma

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Which factor in the CAGE model addresses differences in country size that affect barriers to globalization?
a. Cultural
b. Administrative
c. Geographic
d. Economic

d. Economic

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The measure of inequality among values of a frequency distribution, such as levels of income, is called:
a. Gross Domestic Product
b. Purchasing Power Parity
c. Gini Coefficient
d. Human Development Index

c. Gini Coefficient

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The measure of how well nations are doing at achieving long, happy, sustainable lives is called:
a. Gini Coefficient
b. Human Development Index
c. Gross Domestic Product
d. Happy Planet index

d. Happy Planet Index

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Which argument is used by critics to discourage movement toward globalization?
a. it benefits the environment
b. it increases the wealth of the rich more than the poor
c. it improves local cultures
d. it reduces unemployment

b. it increases the wealth of the rich more than the poor

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The total value of goods and services produced in a country in a one-year period is known as: a. Gross national product b. purchasing power parity c. gross domestic product d. Human development index

c. Gross domestic product

The toal value of goods and services provided by a country, both inside and outside of its borders, in a one year period is called: a. Gross Domestic Product b. Gross National Product c. Human Development Index d. Purchasing Power Parity

b. Gross National Product

Which type of economy is decentralized and allows firms and households to participate in global trade with minimum governmental interference? a. command b. traditional c. market d. mixed

c. Market

Which type of legal system is based on a code and focuses on how the law is applied to the facts? a. civil b. common c. religious d. customary

a. civil

Which law is based on tradition and precedent, where judicial rulings can stand as precedents for future cases? a. Religious b. Customary c. Civil d. Common

d. Common

In which legal system does a judge decide the applicable law for the case as a jury determines the facts? a. civil b. common c. customary d. religious

b. Common

Which organization encourages developing countries to borrow for development projects and supports economic growth? a. International Monetary Growth b. World Bank c. World Trade Organization d. United Nations

b. World Bank

Which organization oversees the international monetary system, including exchange rates and provides financial assistance to member countries? a. World Trade Organization b. United Nations c. International Monetary Fund d. World Bank

c. International Monetary Fund

The difference in total value between payments into and out of a country over a period of time is called: a. Trade balance b. Current account c. Balance of payments d. Capital j

c. Balance of payments

Which currency exchange system allows a currency's value to fluctuate according to market forces? a. Fixed-rate b. Pegged c. Floating d. Gold Standard

c. Floating

What is the primary purpose of the International Monetary Fund (IMF)? a. providing loans to developing nations b. Overseeing the international exchange rate system c. Facilitating international trade agreements d. Settling international disputes

b. Overseeing the international exchange system

Selling government holdings to private companies is referred to as: a. Nationalization b. Deregulation c. Privatization d. Liberalization

c. Privatization

The removal of regulations or restrictions in a particular industry is called: a. Privatizations b. Deregulation c. Liberalization d. Regulation

b. Deregulation

Which type of currency exchange system fixes a currency's value against another currency or a basket of currencies? a. Floating exchange rate b. Fixed exchange rate c. Pegged float exchange rate d. Gold Standard

b. Fixed exchange rate

What is a criticism of the World Bank? a. it focuses too much on developed nations b. it imposes conditions that may harm developing countries c. it prioritizes environmental concerns over economic growth d. it has limited voting power for large economies

b. it imposes conditions that may harm developing countries

Which strategies network works toward decreasing tariff rates and protecting commerce and intellectual property globally? a. United Nations b. International Monetary Fund c. World Trade Organization d. European Union

c. World Trade Organization

The practice of selling a product in a foreign market at a price lower than its production cost or lower than in its domestic market is called: a. Outsourcing b. Dumping c. Subsidizing d. Licensing

b. Dumping

What is the main function of the World Trade Organization (WTO)? a. To provide loans to developing nations b. To settle trade disputes between countries c. To regulate currency exchange rates d. To promote environmental sustainability

b. To settle trade disputes between countries

When a country's value of exports is greater than its value of imports, this is referred to as: a. Trade deficit b. Trade balance c. Trade surplus d. Capital surplus

c. Trade surplus

When countries voluntarily limit the amount of goods they export to another country to avoid trade restrictions, this is called: a. Tariff b. Absolute quota c. Embargo d. Voluntary export restriction

d. Voluntary export restriction (VERs)

The process of obtaining funds from a large number of small investors, often via online platforms, is called: a. Venture capital b. Private equity c. Crowdsourcing d. Bonds

c. crowdsourcing

The inequality between groups to access knowledge and use of information and communication technologies is referred to as: a. Digital inclusion b. Knowledge gap c. Digital divide d. Technological disparity

c. Digital divide

A specialized agency of the United Nations responsible for communication and information issues is called: a. International Telecommunication Union b. World Trade Organization c. International Monetary Fund d. World Bank

a. International Telecommunication Union

Which areas traditionally suffer from the digital divide? a. Urban areas b. Industrial regions c. Rural areas d. Coastal regions

c. Rural areas - often suffers from the digital divide due to limited access to infrastructure, internet connectivity, and technological resources compared to urban areas.

A government is managing a difficult economy that appears to be at a standstill and a direct tax rate that is rapidly decreasing. The government decides to use an indirect tax to improve the situation. Which tax did the government use? a. Income tax b. Property tax c. Goods and services tax d. Capital gains tax

c. goods and services tax

Which globalization risk refers to the adherence to laws of countries in which an organization may operate? a. Political b. Economic c. Legal d. Cultural

c. Legal

What is the term for a company's practice of moving jobs to a foreign location where labor costs are lower? a. Outsourcing b. Offshoring c. Reshoring d. Exporting

b. offshoring

Which pricing strategy involves setting high prices for new products to maximize revenue from early adopters? a. Price skimming b. Penetration pricing c. Competitive pricing d. Psychological pricing

a. Price Skimming

Which concept involves tailoring a company's products and strategies to fit local markets while maintaining a global presence? a. standardization b. adaptation c. glocalization d. localization

c. glocalization

What is the term for a country limiting the amount of a particular product that can be imported from another country? a. Tariff b. Quota c. Subsidy d. Embargo

b. Quota

Which term refers to selling goods in a foreign market at a price below their cost of production? a. Subsidizing b. dumping c. price fixing d. protectionism

b. dumping

What type of market structure has many buyers and sellers, identical products, and no barriers to entry? a. Monopoly b. Oligopoly c. Perfect competition d. Monopolistic competition

c. Perfect competition

Which exchange rate system allows a currency to fluctuate according to supply and demand in the market? a. Fixed exchange rate b. Pegged exchange rate c. Floating exchange rate d. Currency band

c. floating exchange rate

Which practice involves a company acquiring or merging with another company in a foreign country to expand its operations? a. Licensing b. Franchising c. Foreign direct investment d. outsourcing

c. Foreign direct investment

What type of tax is imposed on imported goods to protect domestic industries? a. subsidy b. tariff c. quota d. excise tax

b. tariff

Reviewer for OA Flashcards

(61 cards)