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International Business > Chapter 1 > Flashcards

Chapter 1 Flashcards

0
Q

Two of the three main components of globalization are?

A

Globalization of markets and production

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1
Q

The trend towards a more integrated global economy is known as what?

A

Globalization

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2
Q

The sourcing of goods and services from locations around the globe is knows as?

A

The globalization of production

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3
Q

The global dispersal of production activities is found in what size firms?

A

In all sizes of firms

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4
Q

Coca cola and Pepsi are examples of what?

A

Global competition

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5
Q

Globalization results in a greater degree across markets of what?

A

Uniformity

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6
Q

What area are most global markets?

A

Industrial goods

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7
Q

The ______ was created in 1944 by 44 nations that met in Brenton Woods, New Hampshire

A

International Monetary Fund

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8
Q

The ________ is seen as a lender of last resort to nation states whose economies are in turmoil with currencies that are loosing value

A

International Monetary Fund

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9
Q

The two macro factors leading the trend of greater globalization are:

A

Decline in trade barriers (free flow of goods and services) and technological change

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10
Q

With 192 member countries the ____ was created to preserve peace through international cooperation

A

United Nations

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11
Q

Investing resources in business activities outside a firm’s home country is referred to as?

A

Foreign direct investment

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12
Q

The ______ is a treaty designed to remove barriers to free flow of goods and services and capital between nations

A

General Agreement on tariffs and trade

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13
Q

When a country exports goods or services to consumer in another country it’s known as what?

A

International trade

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14
Q

Under the GATT there have been 8 rounds of negotiations among member states the most recent one was?

A

Uruguay round

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15
Q

What does GATT stand for?

A

General Agreement of Tariffs and Trade

16
Q

The agency established in the 1993 Uruguay round is known as?

A

World Trade Organization

17
Q

If a company has a complain about a international trade issue who could they take it to?

A

World Trade Organization

18
Q

Have the average tariff rates risen or fallen since 1950

A

Fallen

19
Q

Between 1990 and 2000 the flow of FDI worldwide grew how many times?

A

5

20
Q

Between 1950 to 2000 the world trade grew by 20, and the world output grew by what?

A

12%

21
Q

What does WTO stand for?

A

World Trade Organization

22
Q

The lowering of trade barriers to international trade has done what?

A

Enabled firms to approach the world as their market

23
Q

Evidence suggests that the FDI is playoff what role in world economy?

A

An increasing role

24
Q

What is the major cause for the lowering of trade barriers?

A

Technological change

25
Q

What is the most important technological innovation that has been developed?

A

Microprocessor

26
Q

____ is the theory that predicts the power of the microprocessor technology doubling and the cost of production falls every 18 months

A

Moore’s law

27
Q

The greatest potential of the Web is between what areas?

A

Business to business

28
Q

Due to containerization what have transport costs in terms of globalization done?

A

They have dropped

29
Q

Most dominant power in the 1960s?

A

America

30
Q

Which is the only country who has not seen a drop in world output?

A

China

31
Q

2006 worlds largest exporter?

A

America

32
Q

Between 2008-9 Canada’s imports did what?

A

They fell

33
Q

What kind of enterprise is a business that has productive actives in two or more countries?

A

Multinational

34
Q

What are mini-multinationals?

A

Medium- small sized multinationals

35
Q

The decline of U.S. Dominance can be linked to two factors: globalization of the worlds economy and what?

A

Japan’s rise to the top rank of economic powers

36
Q

Outsourcing has extended to what Canadian industry?

A

iT

37
Q

What is the primary purpose of the world trade organization?

A

To arbitrate trade disputes

38
Q

The WTO and trading polices were established by what?

A

GATT

International Business (3 decks)

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