Exam 2: Global Dimensions of Supply Chains

As suggested, the aging populations in more developed countries will result in _____ health care costs and/but _____ in the size of the working population or labor pool.

The central theme behind the theory of comparative advantage is that if one country has an advantage (lower cost) in the production of two products, they should focus on the production of both so that they gain the greatest advantage in trade when compared to other countries that may have a lesser advantage.

Adam Smith in his renowned treatise, The Wealth of Nations , provided not only a rationale for a market economy based upon competition, but also advanced a rationale for trade among nations called the:

Water desalinization and fracking for oil and gas production are examples of technologies that can unleash resources and contribute to economic advantage.

Why are customer service and its related strategy so important for companies operating global supply chains? Do you think that customer service is more important than lower cost to the customers?

Which of the following is not one of the essential factors for economic growth and increased development of global trade flows?

The Regional Trade Agreements (RTAs), the establishment of the General Agreement on Tariffs and Trade (GATT), and its 1995 successor, the World Trade Organization (WTO), have together led to multilateral trade promotion and lowered barriers to international business transactions.

One could argue that the external role of technology in recent years has moved ahead of globalization as an agent or driver of change.

The Trade Act of 2002 requires exporters to electronically submit shipping documents to U.S. Customs _____ hours after delivery to a port.

Operating globally has become easier to accomplish for even individuals and small companies, because of the advances in information/communications technology.

Which two countries account for approximately 36% of the total world population?

Many countries hope to improve trade by engaging in Regional Trade Agreements (RTAs), the best-known example of an RTA is the European Union (EU).

The Trade Act of 2002 requires exporters to electronically submit shipping documents to U.S. Customs 24 hours before delivery to a port or 24 hours before vessel departure.

Where is a megacity most likely to develop?

The underlying logic of Adam Smith's theory was used to advance the rationalization that he called specialization of labor.

Reduced order cycle time has become an important part of supply chain management since it can lead to lower inventory levels for customers, improved cash flow, lower current assets, and accounts receivable.

In recent years, due to political unrest in various parts of the world, large numbers of people have migrated to other countries, particularly in Europe. How would the influx of a large group of people impact the economy of a developed nation with an aging population, such as Germany or Italy?

From a customer service perspective, one of the four important characteristics for global market and strategy is that technology companies counteract short product lifecycle with continual upgrades and new products.

Which of the following is a significant intended outcome of the United States-Mexico-Canada Agreement (USMCA), which recently replaced the older North American Free Trade Agreement (NAFTA)?

Strategies such as compression and lean supply chains take the same amount of work to achieve in the global environment as in the domestic environment.