Chapter 01: Globalization
Multiple Choice
Answer: C
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
Answer: A
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
Answer: D
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
Answer: B
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
Answer: D
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
Answer: D
Learning Objective: 1.1
Difficulty: Easy
AACSB: Reflective Thinking
Bloom’s Taxonomy: Comprehension
Multiple Choice
- Borivia is a country in Eastern Europe that was ruled by Auleria, a country in Western Europe, for over a century. It gained independence from Auleria in 1923. Now, Borivia has its own government. Given this information, it can be said that Borivia is a(n) _____.
- monopoly
- monarchy
- sovereign nation
- emerging market
Answer: C
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
- Dasom Inc., a South Korean smartphone manufacturer, sells its smartphones in 64 countries around the world and has offices in 36 counties. Dasom’s business expansion best exemplifies _____.
- globalization
- nationalization
- subsidization
- commodification
Answer: A
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
- In 1995, the government of Duyat, a country in Asia, began major economic reforms that allowed free trade relations with other countries. Duyat started exporting iron ore and limestone to other countries around the world. Its domestic market strengthened, and it experienced an economic boost. This scenario best exemplifies _____.
- nationalization
- subsidization
- commodification
- globalization
Answer: D
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
- monopolistic market
- globalized market
- oligopolistic market
- gray market
Answer: B
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
- Spain and Italy are both members of the European Union. Nayeli, a Spaniard, is able to purchase Italian-made bags from a handbag store in Spain without paying additional taxes. The market created by the European Union is a(n) _____.
- monopolistic market
- oligopolistic market
- gray market
- globalized market
Answer: D
Learning Objective: 1.1
Difficulty: Medium
AACSB: Analytic
Bloom’s Taxonomy: Application
- Which of the following is true of globalization?
- It makes it difficult to buy and sell internationally.
- It increases socioeconomic equality in emerging markets.
- It makes it difficult for employers to move jobs to cheaper locations.
- It builds on the principle of sovereignty to strengthen the relationships that connect us.
Answer: D
Learning Objective: 1.1
Difficulty: Easy
AACSB: Reflective Thinking
Bloom’s Taxonomy: Comprehension
- Which of the following best illustrates global convergence?
- Sylvester Inc., an American car-manufacturing company, uses the Japanese business philosophy of kaizen.