Review for Midterm

Review for the midterm

10 true/ false

40 multiple choice

-chapter 1

Globalization definition-

Facets of globalization

Globalization of markets

Globalization of production

What is driving globalization?

Why do we need Global Institutions?

-CHAPTER 2

political economy

economic Systems

OLIGOPOLY: if in the industry theres a lot of firms that control the market share

Different types of legal systems

Property rights

The protection of intellectual property

Intellectual property laws

CHAPTER 3

-Differences in economic development

GDP: who owns the factory, revenue make it for productions is the gdp,

-How does political economy influence economic progress?

-how is the political economy changing?

-What is the nature of economic transformation?

-How can managers determine a market’s overall attractiveness?

Weight the benefits and the costs and analyze if its way too risky to enter the country.

Look at the benefits, how big is the market and the economy growth

Costs would be the form of production, lack of in structure they did not find the quality of products they liked.

Legal costs: do u want a license in the country

Risk: economic risk would be if the money policy is not in place , it would affect the economy investment.

CHAPTER 4

Culture:

What determines culture

What is social structure?

What do cultural differences mean for mangers?

Chapter 6

Trade theories

-comparitive effect:

The heckscher ohlin-

Ne trade: they focus of two new things

Economies of scale: when firm is so large , so the firm can achieve  unique cost production.

Alternative explanations of trade patterns.