#1 Globalization

Question 1

international Business

Answer 1

commercial transactions that crosses the borders of two or more nations

Question 2

imports

Answer 2

goods and services purchased aboard and brought into a country

Question 3

exports

Answer 3

goods and services sold abroad and sent out of a country

Question 4

multinational corporation (MNC)

Answer 4

business that has direct investments abroad in multiple countries

Question 5

born global firm

Answer 5

company that adopts a global perspective and engages in international business from or near its inception (början)

Question 6

globalization

Answer 6

trend toward greater economic cultural, political, and technological, interdependence among national institutions and economies

Question 7

emerging markets

Answer 7

these markets, around two billion people, are racing to catch up to developed nations. The population is migrating to cites for better pay and is over loading cities’ infrastructures. Rising incomes are increasing global demand for resources and basic products

Question 8

traditional markets

Answer 8

globalization has bypassed these markets, nearly four billion people. The population is mostly rural, the infrastructure is very poor, and there is little credit or collateral (säkerhet). People have almost no legal protections, and corruption prevails (råder).

Question 9

developed markets

Answer 9

these include the world’s established consumer markets, around one billion people. The population is solidly middle class, and people can consume almost any product desired. The infrastructure is highly developed

Question 10

General Agreement on Tariffs and Trade (GATT)

Answer 10

treaty designed to promote free trade by reducing both tariffs and non tariff barriers to international trade

Question 11

World Trade Organization (WTO)

Answer 11

international organization that enforces the rules of international trade

Question 12

e-business (e-commerce)

Answer 12

use of computer networks to purchase, sell, or exchange products; to service customers; and to collaborate with partners

Question 13

_____ is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

Answer 13

Globalization

Question 14

Globalization is characterized by ________.

Answer 14

national boundaries becoming less relevant

Question 15

The population of a(n) ________ market is mostly rural and is characterized by poor infrastructure with little credit or collateral.

Answer 15

traditional

Question 16

______ are all goods and services sold abroad and sent out of a country.

Answer 16

Exports

Question 17

The three main goals of the World Trade Organization (WTO) are to help the free flow of trade, help negotiate the further opening of markets, and ______.

Answer 17

settle trade disputes between its members

Question 18

Which of the following refers to the use of computer networks to purchase, sell or exchange products; service customers; and collaborate with partners?

Answer 18

e-commerce

Question 19

The rise of a new international entity called the ______ suggests that any company, regardless of age, experience, and resources, can engage in international business.

Answer 19

born global firm

Question 20

A business that has direct investments (in the form of marketing or manufacturing subsidiaries) abroad in several countries is called a _____.

Answer 20

multinational corporation

Question 21

Konesia is a country in which rising incomes are increasing the global demand for basic products and services. Therefore Konesia is an example of a ______ market.

Answer 21

emerging

Question 22

____ place limits on the quantity of a product being imported.

Answer 22

Nontariff barriers

Question 23

The ____ replaced the institution of GATT while retaining all of the former GATT agreements.

Answer 23

World Trade Organization

Question 24

The purpose of the General Agreement on Tariffs and Trade (GATT) was to ____.

Answer 24

promote free trade

Question 25

An established consumer market that primary comprises the middle class and possesses efficient infrastructure is characteristic of ____ markets.

Answer 25

developed

Question 26

Goods and services purchased aboard and brought into a country are called ___.

Answer 26

imports

Question 27

Any commercial transaction that crosses the borders of two or more nations is knows as ____.

Answer 27

international business