Exam 1: Globalization

Today, it is very rare for a business to search simultaneously for production bases and markets.

Imports are goods and services purchased abroad and brought into a country.

Scenario: Tacky Toys and Mushi Toys Tacky Toys, a U.S.-based toy retailer, buys all its merchandise from Mushi Toys, a Japan-based toy manufacturer with production facilities in 12 nations. Mushi Toys markets its toys globally without modification. -Tacky Toys buying its merchandise from Mushi Toys is called ________.

Makers of global seasonal products may supplement domestic sales with ________ to level their income streams.

The first age of globalization was abruptly halted by the arrival of the ________.

What are the arguments of each side in the debate over globalization's impact on national sovereignty?

Innovation in the shipping industry is facilitating globalization by making shipping more efficient and dependable.

Some countries have advanced their economies by harnessing the forces of globalization, while others have not.

Globalization critics claim that it eliminates manufacturing jobs in developed nations.

________ differ(s) from management of a purely domestic firm in nearly all respects.

How does globalization affect the other three main elements in the "global business environment" model?

Technology makes the world market more accessible for companies that sell traditional products by lessening the cost and difficulties associated with global communication.

Opponents to globalization argue that it ________.

________ involves the idea that a nation-state: (1) is autonomous; (2) can freely select its government; (3) cannot intervene in the affairs of other nations; (4) can control movements across its borders; and (5) can enter into binding international agreements.

Countries that threw open their doors to world trade and investment experienced ________ growth rates in gross domestic product (GDP) per capita than rich nations.

Highly centralized production and marketing activities mean that businesses today seldom interact with people in distant locations within the international business environment.

Today, the institution of the General Agreement on Tariffs and Trade (GATT) continues to promote free trade.

Many groups opposed to globalization complain that it ________.

________ allows countries to specialize in producing goods and services in which they are most efficient.

New challenges created by the globalization of markets and production force companies to pay increased attention to their ________.