WGU C211 - Global Economics for Managers Exam
2022/2023
1.Views on Globalization>>> New, Evolutionary, and Pendulum 2."New" view on globalization>>> A force sweeping through the world in recent times.
3."Evolutionary" view on globalization>>> A long-run historical evolution since the dawn of human history 4."Pendulum" view on globalization>>> One that swings from one extreme to another from time to time 5.Foreign Direct Investment>>> Direct investment in, control, and management of value-added activities in other countries 6.Political views on FDI>>> Radical View, Free Market View, Pragmatic Nationalism 7.Benefits to a country receiving FDI>>> Capital Inflow, Technology Spillover, Advanced Management Know-How, Job creation 8.Costs to a country receiving FDI>>> Loss of Sovereignty, Adverse effects on competition, Capital outflow. 1 / 3
9.How do resources and capabilities influence the competitive dynamics of a business>>> Resource similarity and market commonality can yield a powerful framework for competitor analysis.
10.Resource similarity>>> The extent to which a given competitor possesses strate- gic endowment comparable, in terms of both type and amount, to those of the focal firm.
11.How does resource similarity impact competitive dynamics>>> Firms with a high degree are likely to have similar competitive actions.(Starbuck's instant coffee & McDonald's iced coffee) 12.Classical theories of international trade>>> Mercantilism, Absolute advantage, and Comparative advantage 13.Modern theory view>>> Dynamic 14.Classical theory view>>> Static 15.Absolute advantage>>> The economic advantage one nation enjoys that is superior to other nations 16.Comparative advantage>>> The advantage one economic activity nation enjoys in comparison with other nations (relative, not absolute) 17.Mercantilism>>> A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be 2 / 3
richer.
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