WGU C211 Global Economics for Managers Terms 2023-2024 With 100% Verified Answers
- Foreign Direct Investment (FDI)
Answer: Investment in, controlling, and managing value-added activities in other countries.
- Mercantilism/Theory of Mercantilism
Answer: A theory that suggests that the wealth of the world is fixed and that a nation that exports more and imports less will be richer.
- Strategic Trade Policy
Answer: Government policy that provides companies a strategic advantage in
international trade through subsidies and other supports.
- Transaction Risk
Answer: It's the exchange rate risk associated with the time delay between entering into a contract and settling it.
- Cognitive Pillar
Answer: The internalized (or taken for granted) values and beliefs that guide
individual and firm behavior.
- Normative Pillar
Answer: The mechanism through which norms influence individual and firm
behavior.
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- Regulatory Pillar
Answer: The coercive power of Governments.
- Democracy
Answer: A political system in which citizens elect representatives to govern the country on their behalf.
- Totalitarianism
Answer: A political system in which one person or party exercises absolute political control over the population.
- Civil Law
Answer: A legal tradition that uses comprehensive statutes and codes as a primary means to form legal judgements.
- Common Law
Answer: A legal tradition that is shaped by precedents and traditions from previous judicial decisions.
- Theocratic Law
Answer: A legal system based on religious teachings.
- Property Rights
Answer: The ability of an individual to own and exercise control over scarce
resources.
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