BUSINESS IN THE INTERNATIONAL ECONOMY Assignment 1

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BUSINESS IN THE INTERNATIONAL ECONOMY
ASSIGNMENT – 1
PART – A

1. If demand price elasticity measures 5,this implies that consumers would: Ans:
2. Economic profit is:
Ans:
3. In the long run, a monopolistic competitive firm will operate at a price that: Ans:
4. Which of the following would NOT be considered an example of foreign direct investment (FDI)? Ans:
5. In terms of international business, market globalization can be viewed as a ------------. Ans:
6. Which of the following statements is true about the firm-level consequence of market globalization? Ans:
7. Peter, a graduate student from Michigan, ordered a notebook from Opus Inc., an American MNC manufacturing and selling computers and related products. The notebook that Peter ordered from Michigan was assembled in Opus ‘factory in Taipei. This exemplifies the ----------- stage in the international value chain. Ans:

8. A born global firm is defined as -------------.
Ans:
9. Which of the following is characteristic of collectivist societies? Ans:
10. Titania is a country characterized by a high-context culture. This implies that ---------. Ans:

PART – B a. Discuss the impact of market globalization on consumer lifestyles and preferences around the world. Provide examples to illustrate your answer?

Globalization/Internationalization of businesses has had an extreme and largely beneficial impact on consumer attitudes world over. Lifestyles, preferences and perceptions have been drastically altered and the process is ongoing. This is particularly noticeable in the developing countries, where the consumer had limited choice of only locally produced products as trade barriers made access products manufactured elsewhere prohibitively expensive.

Globalization, which has been facilitated by most nations lowering evolve barriers and permitting capital and...
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