Which of the following describes the nature of globalization in the contemporary world?

a.      Globalization is a monopoly business as single seller with many buyers and exercises price-making

b.      Globalization is a centrally planned economic of 100% public control and private enterprises are abolished

c.      Globalization is a communism where the working class dominates the economic production

d.      Globalization is the process where 196 countries engage in economic interdependence through cross-border trade in goods and services, technology and flows of investment, people, and information

 

It is a marketing strategy in the global economy where enterprises go after product diversification and differentiation based on the existence of an unexplored market in a certain geographic region with lower cost of operation and creation of new market demand.

a.      Blue Ocean

b.      Red Ocean

c.      Import restrictions

d.      Diseconomies of scale

 

 

A business intending to compete in a global economy should do marketing research to understand consumer needs by categorizing them according to demographic, behavioral, psychographic and geographic.

a.      Import quotas

b.      Government Control

c.      Market Segmentation

d.      Trade restrictions

 

Multinational and transnational corporations engaging in foreign direct investments and local and foreign markets participating in the international trade may have the opportunity to enter foreign markets in the global economy with these methods

a.      Monopoly, cartel and collusions

b.      Surplus and shortage

c.      Diseconomies of scale, market disequilibrium & market imbalance

d.      Indirect exporting, direct exporting, Licensing, Joint Ventures & Direct Investment

 

J.G Summits Holding with investment interest to Universal Robina, Cebu Pacific, Robinson Malls, Robinsons Bank and PLDT forming one corporate group. How does this business organization characterize?

a. Conglomerates

b. Small and Medium Enterprises

c. Cottage Industries

d. Microenterprises

 

 

The 196 countries of the world are participating in the global economy with import and export in the international trade for the reason that each of them has to confront the basic economic problems of

a.      Finite wants and resources

b.      Limited wants and unlimited resources

c.      Infinite wants and resources

d.      Unlimited wants and limited resources

 

When a country participating in the global economy is unable to sustain technology development, upgrade of education and human resources and development land's natural resources, it will create cost of production of goods and services with high average cost per unit of product, This problem experienced by a backward country or business is called

a.      Product life cycle

b.      Diseconomies of scale

c.      Economies of scale

d.      Market equilibrium

 

Which major activity in globalization facilitates exchanges of capital money & technology, goods and services across international borders because of the needs of the consumers and businesses that are to be satisfied?

a.      Militarization

b.      Closed door policy of trade

c.      International Trade

d.      Communism

 

International financial institutions are multilateral, regional and national development banks for various countries participating in the globalization process. Can you identify which of the citations below are international financial institutions?

a.      International Exchange Bank and East-West Bank

b.      Local and foreign markets

c.      Central bank and Philippines National Bank

d.      World Bank and Asian Development Bank (ADB)

 

When a country adopts globalization, it has to commit to an economic policy where restrictions or barriers to trade are reduced or removed such as tariff, quotas and duties. What economic policy is being referred to as a requirement for a country to join the global economy?

a.      Government Regulation

b.      Trade liberalization

c.      Central planning

d.      Import protections

1. D
2. A
3. C
4. D
5. A
6. D
7. B
8. C
9. D
10. B

Which of the following describes the nature of globalization in the contemporary world?

d.     Globalization is the process where 196 countries engage in economic interdependence through cross-border trade in goods and services, technology and flows of investment, people, and information

It is a marketing strategy in the global economy where enterprises go after product diversification and differentiation based on the existence of an unexplored market in a certain geographic region with lower cost of operation and creation of new market demand.

a.    Blue Ocean

A business intending to compete in a global economy should do marketing research to understand consumer needs by categorizing them according to demographic, behavioral, psychographic and geographic.

c.    Market Segmentation

Multinational and transnational corporations engaging in foreign direct investments and local and foreign markets participating in the international trade may have the opportunity to enter foreign markets in the global economy with these methods

d.      Indirect exporting, direct exporting, Licensing, Joint Ventures & Direct Investment

J.G Summits Holding with investment interest to Universal Robina, Cebu Pacific, Robinson Malls, Robinsons Bank and PLDT forming one corporate group. How does this business organization characterize?

a.    Conglomerates

The 196 countries of the world are participating in the global economy with import and export in the international trade for the reason that each of them has to confront the basic economic problems of

d.   Unlimited wants and limited resources

When a country participating in the global economy is unable to sustain technology development, upgrade of education and human resources and development land's natural resources, it will create cost of production of goods and services with high average cost per unit of product, This problem experienced by a backward country or business is called

b.   Diseconomies of scale

Which major activity in globalization facilitates exchanges of capital money & technology, goods and services across international borders because of the needs of the consumers and businesses that are to be satisfied?

c.    International Trade

International financial institutions are multilateral, regional and national development banks for various countries participating in the globalization process. Can you identify which of the citations below are international financial institutions?

d.      World Bank and Asian Development Bank (ADB)

When a country adopts globalization, it has to commit to an economic policy where restrictions or barriers to trade are reduced or removed such as tariff, quotas and duties. What economic policy is being referred to as a requirement for a country to join the global economy?

b.      Trade liberalization

Step-by-step explanation

1. Globalization is the process by which people and businesses interconnect across the world that eventually leading to global cultural, economic, and political integration. It means the movement and exchanges of people, goods, and services, cultural practices, capital, and technologies all over the world. Some importance of globalization include increased flow of capital, better products at lower prices, cross cultural exchange, increased income, and collaboration and shared resources. 
2. Blue ocean strategy is a marketing strategy where a firm pursues diversification and low cost to open up new market opportunity and create new demand.
3. Market segmentation refers to the process of dividing a target market into a relatively homogenous segments based on specific parameters like demographic, psychological, geographical, and behavioral.
4. Multinational and transnational corporations that engage in international trade uses various forms to enter foreign markets. Some of the methods of investing in foreign economy include indirect exporting, direct exporting, licensing, joint venture, and direct investments. Indirect exporting is where a multinational sells to an intermediary in its own country then the intermediary sells the goods to international market. Direct exporting is where an organization exports directly to a foreign market. Licensing is where an organization grants another organization permission to manufacture its products for a specific payment. Joint venture involves an arrangement between two or more people or companies to pool their resources for the purpose of accomplishing a specific task. 
5. A conglomerate is a multi-industry company that involves multiple businesses entities that operate in entirely different industries under one corporate group. It involves a parent company and many subsidiaries operating in different industries. 
6. All the countries that participate in global economy do so because they are confronting the basic problem of unlimited wants and limited resources. Unlimited wants means people cannot get enough since there is always something they would like to possess or have. Since all the countries in the world do not have enough resources to satisfy the unlimited wants, the limited resources combined with unlimited wants results in a fundamental problem of scarcity. 
7. Diseconomies of scale occurs when a country, company, or an organization grows so large that the costs per unit increase. With the diseconomies of scale, rather than enjoying continued decreasing costs and increased output, a company or country will see an increase in costs when output is increased.
8. International trade refers to the exchange of goods and services between different countries. It involves the exchange of capital, goods, technology, services, and finances across international borders. 
9. International financial institutions are financial institutions that are established by more than one country and is subject to international law. The owners of international institutions are national governments and other international organizations. Some of the examples of international financial institutions include the Asian Development Bank, World Bank, African Development Bank, Caribbean Development Bank, and Inter-American Development Bank.  
10. Trade liberalization refers to the reduction or removal of trade restrictions and barriers to encourage free exchange of goods between different trading partners. The barriers include quotas, tariff, and duties.