Communist Nations Embrace Globalization to Transform Economies

Since the collapse of communism at the end of the 1980s, the ehrstwhile communist nations have transformed their economies by globalizing their markets. This involves

Which of the following is a consequence of globalization?

Which of the following has enabled globalization of markets?

Which of the following factors hinders globalization of consumer goods markets?

Globalization of markets results in markets becoming

A U.S. investment firm set up a customer call center in India to take adv of lower labor costs. This is called

Primarily responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by member states

Which is true about the International Monetary Fund

Early outsourcing efforts were primarily confined to

The World Trade Organization promotes

(blank) occurs when a firm exports goods or services to consumers in another country

The financial crisis in the US in 2009 was triggered by

Containerization allows

The relative decline of the United States in the share of world output and world exports reflects

What is the total cumulative value of foreign investments best referred to as?

A multinational enterprise (MNE) is a firm that

Which of the following is a risk associated with globalization?

Supporters of globalization maintain that the apparent decline in real wage rates of unskilled workers

Globalization is criticized because it increases the power of

An international business, unlike a MNE

Interdependent political, economic and legal systems of a country make up its

A political system that prioritizes the needs of the society over individual freedoms is called

the (blank) believed that socialism could be achieved only through violent revolution and totalitarian dictatorship

In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support led to

The tenet of (blank) is that the welfare of society is best served by letting people pursue their own economic self-interest

Which of the following is a feature of a democracy?

Totalitarianism

Peoples' right to protest on issues of accountability in public expenditure would be possible in a (blank) political set up

(blank) refers to a state where political power is monopolized by a party, group, or individual that governs according to religious principles

In a pure market economy

In a (blank) economy the government plans the goods and services that a country produces, the quantity in which they are produced, and the prices at which they are sold

In a (blank) economy, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning

Under the (blank) law system, cases are judged with reference to three characteristics: tradition, precedent, and custom

A civil system tends to be less adversarial than a common law system, since (blank)

A common law system is different from a civil law system because:

Violation of property rights done through legal mechanisms such as levying excessive taxation and requiring licenses or permits from property holders

Which of the following areas of international trade is regulated by the Foreign Corrupt Practices Act?

A (blank) grants the inventor of a new product or process exclusive rights for a defined period of time to the manufacture, use, or sale of that invention

Design and names by which merchants or manufacturers designate and differentiate their products are known as (blank)

Which of the following provides exclusive legal rights to authors, composers, playwrights, artists, and publishers to publish and disperse their work as they see fit?

Safety standards to which a product must adhere are set by:

GNI per person figures can be misleading because

Which of the following helps in adjusting GNI such that it accounts for the differences in the cost of living?

According to Amartya Sen, development should be

A market economy encourages innovation because

(blank) is required for a business environment to be conducive to innovation and entrepreneurial activity

The state can expropriate the profits from innovation through legal means, such as (blank)

A free market economy in which property rights are protected leads to subsequent economic growth, which often leads to the establishment of:

Since the late 1980s, there has been a spread of democracy.

This is because...

Political scientist Samuel Huntington argues that modernization in non-Western societies can result in a retreat toward the traditional. This is exemplified by

(blank) involves removing legal restrictions to the free play of markets, the establishment of private enterprises, and the manner in which private enterprises operate

Which of the following is a characteristic of a command economy?

to generate resources for public expenditure and promote economic growth, the government decides to auction an entire iron manufacturing plant to sell it to a strategic investor. This process exemplifies

Studies of privatization in central Europe have shown that the process often fails to deliver predicted benefits if the newly privatized firms

Which of the following factors is NOT likely to make a country a more attractive location for international business?

Sony was a pioneer, the Walkman was an innovative product which created a new category altogether and made Sony a tech leader. This gave them an edge over other consumer electronics brands that introduced portable music players for a very long time. Sony had the

Which of the following is NOT true regarding culture?

Cross-cultural literacy refers to

(blank) is/are best defined as shared assumptions about how things ought to be

The system of values and norms that are shared among a group of people and that when taken together constitute a design for living best defines:

Social rules and guidelines that prescribe appropriate behavior in particular situations are best described as

A group of people who share a common set of values and norms form a:

(blank) are the routine conventions of everyday life

An act, as simple as shaking hands when meeting new people is an example of:

Mores are

The social organization of Western society tends to emphasize on

Which of the following is a consequence of the emphasis on individual performance in many Western societies?

Closed system of stratification in which social position is determined by the family into which a person is born, and change in that position is usually not possible during an individual's lifetime?

Ethical systems are

Max Weber theorized that there was a relationship between Protestantism and the emergence of modern capitalism because

The (blank) dimension of Hofstede's study explores how a society deals with the fact that people are unequal in physical and intellectual capabilities

The individualism versus collectivism dimension of Hofstede's study explored:

Hofstede's uncertainty avoidance dimension considered

According to Geert Hofstede's study, which of the following cultural dimensions would be characterized by a greater readiness to take risks and less emotional resistance to change?

Hofstede's dimension of Confucian dynamism

Which of the following is an example of ethnocentrism