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Exam prep D0800
Managing in a Global Business Environment
Term | Definition |
---|---|
A country uses its established technology infrastructure to produce a good. What is the impact of this infrastructure on trade? | It will create barriers to entry for other nations |
What was the economic impact of the North American Free Trade Agreement (NAFTA)? | The shift of jobs away from low comparative advantage industries |
Countries A and B have trade agreements that allow free trade among participant countries. Country A imposed quotas on several imported products to protect its domestic products. What is the effect, if any, on the domestic prices of these products? | Increases |
Two countries decide to open up trade with each other. What is likely to happen when trade opens up? | Jobs will increase in comparative advantage industries. |
What is a purpose of a country implementing trade protectionism? | To protect an infant industry |
Which negative outcome on political systems comes from globalization? | Creation of isolationist policies |
Which factor results in a higher rate of globalization? | Reduced trade barriers |
What are the four factors in Ghemawat's CAGE analysis? | Culture, administration, geography, economy |
What is a characteristic of a market economy? | Firms seek to maximize profits. |
Which impact does Islamic law directly have on businesses? | It forbids charging interest. |
Which level of regional economic integration is a key feature of a Customs Union? | Unified trading policies with non-members |
The US–Mexico– Canada Agreement (USMCA), a modification of NAFTA, broadened the scope of free-trade on member nations + tightened restrictions in the region. Which regulation was established by this new agreement? | Almost half of all automobile parts must be made by a labor force that earns a minimum of $16 per hour by 2023 |
encouraging entry into the Costa Rican telecommunications market by investing in local companies in the region through acquisition. Which alliance supports this director's suggestion? | Central America Free Trade Agreement |
What is the current focus of the World Bank? | Improving quality of life |