Exam 1: Globalization

The value of all goods and services produced by a country's domestic and international activities over a one-year period is the country's ________.

A business that has direct investments (in the form of marketing or manufacturing subsidiaries)abroad in several countries is called a ________.

Supporters and critics of globalization appear to agree that globalization prevents dislocation in labor markets.

The World Trade Organization's dispute settlement system has the ability to penalize offending nations.

Trade unions claim that by permitting international firms to continually move to nations with ________,globalization reduces labor's bargaining power and forces overall labor standards lower.

Topsy Turvey Toys and Ureshi Toys Topsy Turvey Toys is a U.S.-based toy retailer that buys all its merchandise from Ureshi Toys,a Japan-based toy manufacturer with production facilities in twelve nations.Ureshi Toys markets its toys globally without modification. -Ureshi Toys is an example of a(n)________.

Describe the global business environment and each of its four elements.

Jeans Unlimited Jeans Unlimited produces clothing for young adults.It designs its clothes at its New York headquarters and produces them at facilities located in two Southeast Asian countries.The company recently received negative press after one of its facilities was found using questionable labor practices,such as,employing children and operating in a manner that damages the environment. -Jeans Unlimited manufactures its clothing at facilities located in two Southeast Asian countries.The dispersal of manufacturing activities by the company indicates ________.

Globalization's impact on jobs and wages is an important topic for debate.Discuss the major points for globalization in the jobs and wages debate,and describe how the actions of large multinational corporations affect the issues in the jobs and wages debate.

How might a company benefit from the globalization of production?

________ is an effective alternative to traditional distribution channels for firms that sell digitized products.

The rise of a new international entity called the ________ suggests that any company,regardless of age,experience,and resources,can engage in international business.

The term ________ refers to entities cooperating across national boundaries.

The population of a(n)________ market is mostly rural and is characterized by poor infrastructure with little credit or collateral.

________ is defined as the dispersal of production activities to locations that help a company achieve its cost-minimization or quality-maximization objectives for a good or service.

Globalization tends to foster two important values,tolerance and ________.

Gentian Violet is a dye manufacturing company that uses computer networks to sell its products,service customers,and collaborate with partners.Which of the following technologies is the company engaging in this scenario?

To minimize the economic inequality within developing nations,studies suggest that the nations can boost incomes of their poorest citizens by ________.

Gross national product (GNP)is the value of all goods and services imported into a country over a one-year period.

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