2023 WGU D080 Practice Exam with Answers (161 Solved Questions)

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WGUD080 COMPLETED2023 WITHCORRECT ANSWERS.What is globalization?-Answer When international integration arises from theinterchange of world views, products, ideas and cultures.What are business opportunities that are presented by globalization?-AnswerTrade, transactions, capital andinvestment movements. The migration andmovement of people and the dissemination of knowledge.Culture effects of globalization-Answer Ideas, meanings, values. Decreaseduniqueness by once isolated communities.Political effects of globalization-Answer Reduces importance of nation statesEconomic effects of globalization-Answer International movement of goods, capital,services and technology and information.What are arguments for globalization?-Answer Access to broader market, gainsaccess tocheap labor.What are arguments against globalization?-Answer Needs to understand foreignlegal and political policies.Market entry (Five stages of entering a global market)-Answer Companies enternew country's using business models similar to the ones in home market.Production Specialization (Five stages of entering a global market)-AnswerCompanies transfer the full production process of a product to a single location.Value Chain Desegregation (Five stages of entering a global market)-AnswerDesegregating the the production process and focus on completing each activity in abetter location. (different areas)Value Chain Reengineering (Five stages of entering a global market)-AnswerCompanies seek to further increase their cost savings byreengineering theirproduction process.Creation of New Markets (Five stages of entering a global market)-Answer Allowscompanies to lower their sticker prices in both new and old markets.Cost Driver (4 drivers of globalization)-Answer Refers to product development,manufacturing, and sourcing.Competitive Driver (4 drivers of globalization)-Answer New markets, increased levelof trade.Market Driver (4 drivers of globalization)-Answer Customer needs. Preferencesvary by product.

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WGUD080 COMPLETED2023 WITHCORRECT ANSWERS.GovernmentDriver (4 drivers of globalization)-Answer Absence or presence oftrade policies, technical standards, policies and regulations.Economies of Scale-Answer Refers to the concept that the unit cost to produce aproduct will decline as the variety increases.Benefits of Global Expansion-Answer More array of products, servicestechnologies, medicines, and knowledgeIncreased sales and exchangesGrowth rate in GDPMNC's Benefits of Global Expansion-Answer Unsaturated demand for new productLower labor costsLess expensive natural resourcesHigher revenue or lower structure costMNC's Cost of Global Expansion-Answer Ethical business practice (labor, safety,environment)Organizational structure (incorporating new regions to the value chain)PublicrelationsLeadershipLegal and regulatory structureC (CAGE)-Answer Culture. Shared beliefs, practices, norms.A (CAGE)-Answer Administration. Similar country's trade with each otherG (CAGE)-Answer Geography. LocationE (CAGE)-Answer Economic. Socioeconomic and demiographicWorld is flat-Answer events that made the world smaller.Monarchy-Answer A single person ruling until death. (Britain)Oligarchy-Answer Small elite group holds power. (Russia)Dictatorship-Answer One personrules (Hitler)Democracy-Answer Citizens organize political parties. (USA)Traditional Economy-Answer Centers around family (hunt gather & nomadicsocieties)Relies on barteringMembers produce what they need not no surplusBenefits: No friction between membersDisadvantages: Mercy of climateLow standard of living

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WGUD080 COMPLETED2023 WITHCORRECT ANSWERS.Ex: HatiCommand Economy-Answer Devoted to goals passed down from a ruler.Resources and business are owned by the government. Communist societies.VenuzelaMarket Economy-Answer Decentralized economy. Leaders make decisions onconsumer demands. Regulates balance between supply and demand.Mixed Economy-Answer Too much government involvement. Protects privateproperty. Supply and demand. Mix of market andcommand economy.Religious Law-Answer Theocratic law based on religious guidelines.Civil Law-Answer Judge investigates. (Europe, Central America, South America)Common Law-Answer Judicial rulings, judge acts as moderator. (USA)IMF(International Monetary Fund)-Answer Financing to members in economicdifficulties to achieve macroeconomic stability and reduce poverty.World Bank-Answer Encourages developing countries to borrow for developmentprojects.WTO (World Trade Organization)-Answer Regulation of trade between nations.IMF Criticism-Answer Requires borrower to fix financial problems to get financing.USA over represents. Helps developed countries more. EnvironmentalWTO Criticisms-Answer Protects developed countries more.World Bank Critisms-Answer Privation of healthcare. US and Europe have toomuch control.Mercantilism Trade Theory-Answer Country's wealth is based by the amount ofgold and silver holdings.Import & Export Trade Theory-Answer Import: Goods coming into a country.Export: Goods coming out of a country.Neo-mercantilism-Answer Favors exports, discourages imports. (China)Absolute Advantage-Answer Ability of a country to produce goods more efficientlythan another nation.Comparative Advantage-Answer Ability to produce a good or service at lowestopportunity cost.

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