BA 370 Exam ( QUESTIONS WITH CORRECT
VERIFIED ANSWERS ) NEWEST EDITION 2024 /
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Globalization - ANSWER process by which goos, services, capital, people. info, and ideas flow across
national borders
1. Economic Analysis
2. Infrastructure & Technological Analysis
3. Government Actions (or Inactions)
4. Sociocultural Analysis - ANSWER What are the 4 ways to assess global markets?
- General economic environment
- Market size and population growth
- Real income - ANSWER What are the 3 major factors of economic analysis?
Trade deficit - ANSWER country imports MORE goods than it exports (the U.S has this)
Trade surplus - ANSWER higher level of exports than imports; greater opportunity to export products to
more markets
Gross domestic product (GDP) - ANSWER the market value of the goods and services produced by a
country in a year
* the most widely used metric
,Gross National Income (GNI) - ANSWER consists of GDP plus the net income earned from investments
abroad
(minus any payments made to nonresidents who contribute to the domestic economy)
Purchasing Power Parity (PPP) - ANSWER if the exchange rates of 2 countries are in equilibrium, a
product purchased in one will cost the same in the other, if expressed in the same currency
Evaluating market size and population growth rate - ANSWER - growth has never been equally dispersed
- today, many LESS developed nations have rapid growth, while DEVELOPED nations have 0 or negative
pop. growth
Evaluating real income - ANSWER - need to change price to meet the unique needs of a particular
country market
Bottom of the pyramid - ANSWER consumers earn VERY LOW wages
- impoverished population still have wants and needs but cannot pay the prices for those goods
Infrastructure - ANSWER the basic facilities, services, and installations needed for a community or
society to function such as
- transportation and communication systems
- water and power lines
- public institutions (schools, post offices, etc.)
- Transportation
- Distribution channels
- Communications
- Commerce - ANSWER What are the 4 things in infrastructure?
Tariff (duty) - ANSWER tax levied on a good imported into a country
- RAISES PRICES AND LOWER DEMAND
, Quota - ANSWER designates the maximum quantity of a product that may be brought into a country
during a specified time period
- REDUCE availability of imported merchandise
Exchange control - ANSWER refers to the regulation of a country's currency exchange rate (or currency)
Exchange rate - ANSWER The measure of how much one currency is worth in relation to another
Trade agreement - ANSWER intergovernmental agreement designed to manage and promote trade
activities for specific regions
Trading Bloc - ANSWER consists of those countries that have signed a particular trade agreement
Power distance - ANSWER willingness to accept social inequality as natural
- Brazil is high
- U.S. is low
uncertainty avoidance - ANSWER tolerance for the unknown, ambiguity
- High: more rational, Japan
- Low: more risk-taking, U.S
Individualism - ANSWER obligation to and dependence on groups
- Low: Brazil (collectivistic)
- High: U.S., Australia, Canada, UK
Masculinity - ANSWER low means men and women are equal; nigh means men dominate in possessions
of power
Time-oreintation - ANSWER - Long: focused on the future
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