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_______ is the movement from thinking about markets with geographical locations to thinking of them as something that transcends borders.

1. _______ is the movement from thinking about markets with geographical locations to thinking of them as something that transcends borders.

A) Worldwide sourcing

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B) Globalization

C) G20

D) International trade

2. The organization that is primarily responsible for policing the world trading system and making sure that nation states adhere to the rules laid down in trade treaties is the _______.

A) World Trade Organization

B) Free trade union

C) World Bank

D) International Monetary Fund

3. The definition of _______is inputs into the productive processes of a firm, including labor management, land, capital, and know how.

A) Business production

B) International development

C) Free Trade

D) Factors of production

4. Direct investment in business operations in a foreign country is called___________.

A) Factor Endowments

B) Economies of Scale

C) Foreign Direct Investment (FDI)

D) International Investment

5. ____ is a country’s endowment with resources such as land, labor, and capital

A) Factor Endowments

B) Mercantilism

C) Natural resources

D) National Endowment

 

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