What are the characteristics of newly industrialized countries?

increased economic growth rate and rapid population growth /urbanization

Which of the following is NOT true about developing countries?

they have skills and resources for becoming newly industrialized countries

A developing country is...

A country with a poor infrastructure and low incomes.

Three obstacles to economic growth?

High Population Growth Rates •Poor infrastructure •High illiteracy

What 4 components are used to calculate GDP?

Consumption, Investments, Government spending, and Net exports

What are the sources of political risk?

Political Instability, legal and regulatory constraints, tax, and more

What aspects of a nations economic development can supply it with a national competitive advantage?

Culture, geography, and innovation

The new trade theory states all of these EXCEPT:

Countries produce goods with abundant resources

Mercantilism includes all of this EXCEPT:

the belief to achieve a trade balance

What are the 4 stages of product life cycle?

Introduction, growth, maturity and decline

Define comparative advantage:

Producing a good at the lowest opportunity cost, but not most efficient

To boost productivity in a business, one must:

increase outputs; inputs stay the same

What characterizes an emerging market?

Former developing economies, have achieved substantial industrialization.

A country's HDI (human development index) measures:

health, education, and standard of living

What is the absolute advanatge?

ability of a nation to produce a good more efficiently than other nation.

studbud

Int Bsns Ch. 4 - 5

29 termsStudBud Administration35 plays

Imported from external platform

Flashcards29 cardsFPractice quizPHost liveL

Questions 29

Answers

1
If China were to export $1 trillion worth of goods and import only $200 billion, it would have an $800 billion...
trade balance
trade deficit
trade surplus
2
What are the characteristics of newly industrialized countries?
free trade policy, increased economic growth, and decrease in population
decreased economic growth rate and decrease in population
increased economic growth and no free trade policy
increased economic growth rate and rapid population growth /urbanization
3
Which of the options below are type of nationalization?
Socialist
Capitalist
Reformist
All of the above
4
What is GNP?
C. Gross National Imports
B. Gross National Income
A. Gross National Interest
D. Great National Income
5
Which of the following is NOT true about developing countries?
they have skills and resources for becoming newly industrialized countries
they rely heavily on a few sectors of production
they are characterized by a high degree of technological dualism
they have the poorest infrastructure
6
A developing country is...
A country on the verge of stablity with income and infrastructure.
A country with a fully developed infrastructure and make good income.
A country with a poor infrastructure and low incomes.
7
Three obstacles to economic growth?
High Population Growth Rates •Poor infrastructure •High illiteracy
•Good infrastructure •High literacy rates •High GDP
•Good water supplies•Ethnic and religion rights•Health services
8
What are the newly industrialized country (NIC)s primarily located today?
USA and Europe
South America and Asia
Europe and Africa
Asia and Latin America
9
The invisible hand correlates to what type of economy?
Socialism
Free market economy
Mercantilism
Communism
10
Newly industrialized countries, plus those with the potential to become industrialized soon, are:
mixed economy
emerging markets
newly industrialized countries
developing countries
11
The agency created to provide financing for national economic development efforts is...
E-business
NATO
World Bank
Word Trade Organization
12
What 4 components are used to calculate GDP?
Consumption, investments, Government spending, and Net imports
Consumption, Investments, Government spending, and Net exports
Consumption, investments, imports and exports
Imports, exports, goods, and services
13
What are the sources of political risk?
Political Instability, legal and regulatory constraints, tax, and more
Is a metaphor for the unseen forces that move the free market economy.
all of the above
The loss of potential gain from other alternatives
14
Chile does not have capacity to produce pharmaceuticals, so they are imported from the US, which is an example of:
Emerging Market
Trade Interdependence
Trade surplus
Nationalization
15
What aspects of a nations economic development can supply it with a national competitive advantage?
Population, military force
Culture, geography, and innovation
Global power and peace treaties
16
The loss of potential gain from other alternatives when one alternative is chosen.
National Competitive Advantage
Opportunity Cost
Comparative AdvantageC.
17
The new trade theory states all of these EXCEPT:
Companies first to market can create barriers to entry
Countries produce goods with abundant resources
There are gains to be made from increasing economies of scale
Government may play a role in helping home companies
18
Mercantilism includes all of this EXCEPT:
the need to encourage exports over imports
the belief that the amount of wealth in the world is relatively static
the belief to achieve a trade balance
the belief that the world's wealth is best judged by the amount of gold
19
What are the 4 stages of product life cycle?
Introduction, growth, maturity and decline
Invention, growth, maturity and decline
Introduction, fabrication, maturity and decline
20
A benefit of international trade is...
Creates more jobs
Higher surplus of goods
Less choices of goods
Creates less jobs
21
Define comparative advantage:
Factors that allow a country to product a product more cheaply
Producing a good at the lowest opportunity cost, but not most efficient
Can produce a good more efficiently than any other nation
22
To boost productivity in a business, one must:
decrease inputs and outputs
increase inputs, decrease outputs
none of the above
increase outputs; inputs stay the same
23
What characterizes an emerging market?
Post-industrial countries characterized by highly competitive industries.
Former developing economies, have achieved substantial industrialization.
Low-income countries with limited industrialization & stagnant economies
24
Why is economic development important?
it gives opportunities for productivity to be higher within a nation
It's not important
both b & c
it provides a better quality of life
25
A country's HDI (human development index) measures:
health, education, and standard of living
population
national income
average income
26
What is the absolute advanatge?
ability of a nation to produce a good more efficiently than other nation.
producing a good at the lowest opportunity cost
value of a nation's exports is greater than the value of its imports
27
What is NOT measurement in Human Development Index (HDI)?
Size of military
Decent standard of living
Education level
Provides its people with a long and healthy life
28
Which one is a drawback of using GDP as a measure of economic development?
Uncounted transactions
Question of growth
Pitfalls of comparison
All of the above
29
Which country of these is more developed based on HDI?
United States and Canada
Mozambique and Niger
Norway and Australia

Int Bsns Ch. 4 - 5 Flashcards | StudBud