Exploring Globalization and MNCs

What is globalization?

• Globalization is the process of increased interconnectedness and interdependence among countries.

• Globalization is the process of countries becoming self-sufficient.

• Globalization refers to the decline of international trade.

• Globalization is the isolation of countries from each other.

What does MNC stand for?

• Multi-National Company

• Massive Network Corporation

• Monetary National Council

• Multinational Corporation

Why do companies want to sell their products in other countries?

• To limit competition in the home market.

• To comply with local regulations.

• To reduce production costs.

• To access new markets and increase sales.

What is one benefit of globalization?

• Decreased cultural exchange and understanding.

• Increased economic growth and access to diverse products.

• Limited access to technology and innovation.

• Increased isolation of local economies.

How does international business help people?

• International business helps people by creating jobs, enhancing economic growth, and providing access to diverse products and services.

• International business restricts access to local products.

• International business leads to job losses.

• International business increases poverty levels.

What is an example of a product that is made in one country and sold in another?

• iPhone

• Samsung Galaxy

• Sony PlayStation

• Microsoft Surface

Why do people travel to other countries for business?

• To take vacations and relax

• To establish relationships, explore markets, negotiate deals, and attend conferences.

• To visit tourist attractions

• To learn new languages

What is a trade agreement?

• A trade agreement is a document for travel visas.

• A trade agreement is a formal arrangement between countries that governs trade terms.

• A trade agreement is a law regulating immigration.

• A trade agreement is a type of currency exchange.

How do MNCs help local economies?

• MNCs reduce local employment opportunities.

• MNCs help local economies by creating jobs, investing in infrastructure, and enhancing skills and technology.

• MNCs primarily focus on exporting local resources.

• MNCs discourage technological advancements in local markets.

What is one challenge of doing business in another country?

• Understanding local customs and traditions.

• Finding a suitable office location.

• Hiring employees with local expertise.

• Navigating different legal and regulatory environments.