Test Bank for Global Business Today 12th Edition Hill Student name:__________ 1) Many believe that globalization has created a convergence in A) the volume of goods and services produced. B) foreign exchange transaction law. C) environmental and labor laws. D) consumer taste preferences. E) the regulation of markets. Question Details AACSB : Analytical Thinking Accessibility : Keyboard Navigation Bloom's : Understand Difficulty : 2 Medium Learning Objective : 01-01 Understand what is meant by the term globalization. Topic : What is Globalization? Gradable : automatic 2) What is the shift toward a more integrated and interdependent world economy called? A) international trade B) foreign direct investment C) globalization D) Moore's Law E) containerization 3) Fast food chain restaurants promote different menu choices in different countries depending on a range of factors such as demographics, local taste, income levels, and cultural values. This demonstrates that A) significant differences still exist among national markets. B) cultural diversity has been replaced by global uniformity. C) the global market is less complex than national markets. D) only multinational giants can benefit from the globalization of markets. E) the social norms in a country do not affect purchase decisions of consumers. Question Details Accessibility : Keyboard Navigation Learning Objective : 01-01 Understand what is meant by the term globalization. Topic : What is Globalization? AACSB : Knowledge Application Bloom's : Apply Difficulty : 3 Hard Gradable : automatic 4) Which statement best supports the claim that greater uniformity replaces diversity in the context of global markets? A) Differences in business systems and legal regulations lead companies to customize their marketing strategies, product features, and operating practices to best match conditions in a particular country. B) As rival global firms follow each other across countries, they bring with them their brand names, products, and marketing strategies from other national markets, thus creating some homogeneity across markets. C) Truly innovative companies succeed by developing products that serve specific needs of the local markets. D) The volume of goods, services, and investment crossing national borders has expanded at a slower rate than world output for more than half a century. E) The most global of markets are not typically markets for consumer products, as significant differences in consumer tastes and preferences still exist among national markets.

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