Chapter 10 - Understanding Emerging Markets

Question 1

Advanced Economies

Answer 1

Post-Industrial countries characterised by high per capita income, highly competitive industries and a well-developed commercial infrastructure

Question 2

Developing Economies

Answer 2

Low-Income countries characterised by limited industrialisation and stagnant economies

Question 3

Emerging Markets

Answer 3

Former developing countries that have achieved substantial industrialisation, modernisation and economic growth since the 1980s

Question 4

Transition Economies

Answer 4

A subset of emerging markets that evolved from centrally planned economies into liberalised markets

Question 5

Privatisation

Answer 5

The transfer of state-owned industries to private concerns

Question 6

New Global Challenges

Answer 6

Top firms from emerging markets that are fast becoming key contenders in world markets

Question 7

Outsourcing

Answer 7

The procurement of selected value-adding activities, including the production of intermediate goods or finished products, from independent suppliers

Question 8

Global Sourcing

Answer 8

The procurement of products and services from foreign locations, from either independent suppliers or company-owned subsidiaries

Question 9

Family Conglomerate

Answer 9

A large diversified company that is privately owned

Question 10

Tenders

Answer 10

Formal offers made by a buyer to purchase certain products or services