Exam 1: Globalization

Drivers of this second age of globalization (including communication satellites, fiber optics, microchips, and the ________) are lowering the cost of telecommunications.

The ________ is an agency created to regulate fixed exchange rates and enforce the rules of the international monetary system.

Two major forces that underlie the expansion of globalization are ________ and ________.

Companies that sell global products can reduce costs by ________ certain marketing activities.

Globalization opponents argue that globalization and international outsourcing help to advance developing nations' economies.

Summarize each benefit a company might obtain from the globalization of markets.

Separate ________ are composed of unique cultural, political, legal, and economic characteristics that define business activity within that nation's borders.

The four elements comprising the "global business environment" include ________, national business environments, the international business environment, and international firm management.

Largely because of advances in ________, small and medium-sized companies are accounting for a greater portion of international business.

The globalization of production benefits companies by allowing them to ________.

Although globalization may cause political and economic ideologies to diverge, deeper elements of culture may not be as easily affected.

________ refers to convergence in buyer preferences in markets around the world.

Advancements in ________ and ________ are helping to globalize markets and production activities.

The Globalization Index comprises a compilation of over a dozen variables within four categories, including political engagement, ________ connectivity, personal contact, and economic integration.

Internationalization refers to national boundaries becoming less relevant.

Define e-business (e-commerce) and explain how it helps companies conduct international business.

Summarize the claims made against globalization regarding its impact on jobs and wages, and the responses of globalization supporters.

All goods and services purchased abroad and brought into a country are called ________.

The General Agreement on Tariffs and Trade (GATT) was a treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.

International business is any commercial transaction that crosses the borders of two or more nations.