Globalization and Local Economies

Question 1

What is the distribution of industrial and service activities across an increasing number of nations and produces deeper integration of the world’s individual national economies and makes them interdependent?

Answer 1

Globalization

Question 2

How is globalization measured?

Answer 2

By world trade as a percentage of GDP- the greater the percentage, the greater degree of globalization

Question 3

What are the factors that drive globalization?

Answer 3

Improvements in transportation, technological advancements, deregulation of international financial markets, organizational/operational options for international business

Question 4

What is another name for resource markets?

Answer 4

Imperfect markets

Question 5

What are the methods of conducting International Business Operations?

Answer 5

International Trade, Licensing, Franchising, Joint ventures, Direct Foreign Investment, Global Sourcing

Question 6

What are the inherent risks of International Business Operations?

Answer 6

Exchange Rate Fluctuation, Foreign Economies, and political risk

Question 7

Who are the emerging nations?

Answer 7

Brazil, Russia, India, China