Global Business Final Exam Study Guide

A movement towards a more integrated and interdependent world economy in terms of exchanges of goods, technology, information, labor, and capital.

• Globalization

• Trade Barriers

• Drivers of Globalization

• Transportation Technology

3 Drivers of Globalization are:

• Reduction of Trade Barriers

• Internet & Communications Technology

• Transportation Technology

• All of these are correct

Which is NOT one of the reasons why businesses globalize?

• To INCREASE the cost of doing business

• To reach new customers

• To increase product awareness

• To increase productivity from a 24-hour work cycle

What are the 4 factors that facilitate globalization?

• Political factors

• Technological factors

• Economic factors

• Educational factors

• All of these are correct.

Are where existing buyers or potential group of buyers meet sellers of goods, services, and information.

• Globalization of Markets

• Globalization of Production

• Standard of living

• Gross Domestic Product

Is creating something of value such as consumer goods, machines, tools, materials.

• Globalization of Markets

• Globalization of Production

• Economic Development

• Commodity

The quality and quantity of goods and services that people receive. Per capita GDP is one indicator of the average standard of living in a particular country.

• Standard of Living

• Tariff

• Culture

• Commodity

The pursuit of improved economic and social well-being by a country.

• Economic Development

• Purchasing Power Parity

• Commodity

• Tariff

The total value of all the goods and services a country produces in one year.

• Gross Domestic Product (GDP)

• Purchasing Power Parity (PPP)

• individualistic culture

• Proximity

The value of a country’s currency as shown by what it can buy in that country.

• Gross Domestic Product (GDP)

• Purchasing Power Parity (PPP)

• Commodity

• Individualistic Culture