Global Business Final review

A person who is aware of and sensitive to the world in its entirety is called a

• Traveler

• Global citizen

• Worker

• International businessperson

All of the below are examples of skills a person would need to navigate the international business world EXCEPT

• A knowledge of their country only

• Good knowledge of geography

• An awareness of history

• Good study skills

The most attractive alternative given up when a choice is made would be

• Supply

• Opportunity cost

• Demand

• Scarcity

Which of the below is a basic question that every country has to answer as far as their economic choices go?

• What goods and services are to be produced?

• How should the goods and services be produced?

• For whom should the goods and services be produced?

• All of the above are questions they have to answer.

If a drought was to hit a certain country, then causing them to rely on other countries for their food, this would be an example of

• Global dependency

• Domestic business

• Purchasing

• International business

A mixed economy is where the government regulates the amount, distribution, and the price of everything produced.

• True

• False

An indication of the buying power of a country's monetary unit is called

• Economic forecast

• Inflation

• Scarcity

• Economics

The study of how people choose to use their limited resources to satisfy their unlimited wants and needs is

• Scarcity

• Opportunity cost

• Economics

• Finance

In some nations, hugging and kissing on the cheek is an appropriate greeting. This would be considered what type of environmental factor?

• Political

• Cultural

• Economic

• Geographical

Products bought from businesses in other countries are called

• Imports

• Exports