REVIEW INQUIRIES IB TEST BANK Composition

REVIEW QUESTIONS

WORLDWIDE BUSINESS

SECTION 1 - GLOBALIZATION

Assessment Question one particular

The change toward a far more integrated and

interdependent community economy is usually

referred to as

a) economic incorporation

b) economical interdependency

c) globalization

d) internationalization

Review Question two

The joining of in the past distinct and

separate national markets as one huge

global marketplace is referred to as

a) global market aide

b) cross-border trade

c) supranational market integration

d) the the positive effect of markets

Review Question 3

Organizations that are associated with international

business tend to always be

a) large

b) tiny

c) medium-sized

d) large, small , and medium-sized

Assessment Question 4

Which is not one factor of production?

a) trade

b) terrain

c) capital

d) energy

Review Issue 5

The sourcing of good and services from about

the world to take advantage of national

variations in the cost and quality of factors of

creation is called

a) economies of scale

b) the the positive effect of development

c) global integration

d) global finding

Review Problem 6

What is the single most significant innovation to

the the positive effect of marketplaces and development?

a) advancements in travel technology

b) the development of the microprocessor

c) advances in communication

d) the Internet

Assessment Question 7

Which of these is not only a concern of anti-globalization

protesters?

a) globalization boosts consumer cash flow

b) the positive effect contributes to environmental

degradation

c) globalization can be causing a loss of manufacturing

jobs in producing countries

d) globalization indicates a loss in national

sovereignty

CHAPTER 5& 6 – TRADE HYPOTHESES

AND COVERAGE

Review Issue 1

1 . Propagated in the 16th and 17th centuries, _____

strongly suggested that countries should at the same time

encourage exports and suppress imports.

A. ethnocentrism

M. capitalism

C. collectivism

G. mercantilism

Review Question 2

2 . What is the basic meaning of the theory of

comparison advantage?

A. Countries are similar in their capacity to produce

items efficiently

M. International transact is seldom beneficial to a

country

C. Potential community production can be greater with

unrestricted totally free trade than it is with restricted

operate

D. Trade is a zero-sum game.

Assessment Question three or more

3. Which in turn theory predicts that countries will export

those items that make intense use of factors

that are regionally abundant, whilst importing items

that make intense use of elements that are regionally

scarce?

A. Comparative edge

B. Total advantage

C. Heckscher-Ohlin

D. Samuelson

Assessment Question 4

4. All the following hypotheses show so why it is

good for a country to engage in foreign

trade also for products it is able to produce for

by itself except:

A. mercantilism.

B. Heckscher-Ohlin.

C. comparative benefits.

D. overall advantage.

Review Question 5

5. A situation in which 1 country much more efficient

in producing a item than some other country is usually

referred to as:

A. absolute benefit

B. comparative advantage

C. comparative benefits

D. essential advantage

Review Question six

6. Transact produces net gains for all those involved and

hence is known as a:

A. zero-sum game.

M. balance-of-trade game.

C. positive-sum game.

Deb. equilibrium-gain game.

Review Issue 7

six. The product cycle theory:

A. remains a relevant theory of explaining

international trade today.

B. was useful for describing the pattern of operate

during the short period of American global

prominence.

C. turned out to be a poor reason of world trade

habits during the 1960s and 1970s.

D. was a strong predictor of control patterns

during the 1800s.

Review Question almost 8

8. In accordance to Porter, advanced elements:

A. include natural resources, climate,

site,

and demographics.

B. would be the least significant for competitive

advantage.

C. are obviously endowed.

M. are a product of investment by...

Writing Guidelines an Issues Essay