Question 1

Amazon cannot sell its own goods in India.

Accepted Answer

Amazon is not allowed to sell its own goods in India due to foreign direct investment (FDI) regulations.

Question 2

Which country was upgraded from "emerging" to "developed" status by the Financial Times Stock Exchange (FTSE)in 2009?

Accepted Answer

South Korea was upgraded from "emerging" to "developed" status by the FTSE in 2009, reflecting its advanced economy and financial markets.

Question 3

Myanmar people are very similar to Japanese in some ways.

Accepted Answer

Myanmar and Japan are both located in East Asia and share some cultural similarities, such as the use of chopsticks and the practice of Buddhism.

Question 4

China is the first BRICS nation in the upper-middle-income category with a GNI per capita income of $8,260 in 2016.

Accepted Answer

The answer of China is the first BRICS nation in...

Question 5

According to the authors of the Harvard Business Review article,"Serving the World's Poor,Profitably," which of the following is a mistaken assumption that global companies might have about the BOP (bottom of the pyramid)?

Accepted Answer

The authors of the Harvard Business Review article, "Serving the World's Poor, Profitably," discuss all of these assumptions (A, B, C, D) as mistaken beliefs that global companies might have about the BOP (bottom of the pyramid) markets. They argue that these assumptions are not only incorrect but also hinder the potential for profitable and socially beneficial engagement with these markets.

Question 6

Brazil,China,and India are classified as upper-middle income countries,also known as industrialized or developing countries.

Accepted Answer

The answer of Brazil,China,and India are classified as upper-middle income...

Question 7

Product and market opportunities in a postindustrial society are more heavily dependent upon new products and innovations than in industrial societies.An example of this would be:

Accepted Answer

In a postindustrial society, the focus is on information and services rather than manufacturing. New e-commerce markets for interactive electronic communication represent innovation and new product development, which are key in such societies.

Question 8

The Organization for Economic Cooperation and Development (OECD)is described as the:

Accepted Answer

The Organization for Economic Cooperation and Development (OECD) is often described as a group of 35 nations (though this number can change as countries join or leave), a "rich-man's club" due to its membership primarily consisting of high-income economies, a collective of pluralistic democracies, and an economic think tank, given its role in setting international standards and providing economic policy advice.

Question 9

The Organization for Economic Cooperation and Development (OECD)has become more focused on global issues,social policy,and labor market regulations as seen by:

Accepted Answer

The OECD has indeed broadened its focus to include global issues, social policy, and labor market regulations, which encompasses addressing bribery (A), requiring member cooperation on bribery allegations (B), assisting in the assessment of economic policies (C), and collaborative reviews of social policies (D).

Question 10

Pursuing alternative sources of energy,such as wind and solar power,is important due to the fact that:

Accepted Answer

Heavy reliance on fossil fuels is a significant contributor to global warming due to the emission of greenhouse gases. Transitioning to alternative energy sources like wind and solar power can help reduce these emissions.

Question 11

With a 2016 GNI per capita of $1,680,India has transitioned out of the low-income category and is now classified as an upper-middle-income country.

Accepted Answer

As of my last update in 2023, India was classified as a lower-middle-income country by the World Bank, not an upper-middle-income country. The classification is based on the World Bank's income classification thresholds, which are updated annually.

Question 12

The 35 nations that belong to the OECD,who believe in market-allocation economic systems and pluralistic democracy,are also addressed as an "economic think tank" or the "rich man's club."

Accepted Answer

The OECD, consisting of 38 member countries as of my last update, is often referred to as an "economic think tank" or the "rich man's club" due to its focus on market economies and democratic systems, and its members' relatively high levels of wealth.

Question 13

Which two companies are sourcing product components from small-scale enterprises,which in turn are helping preserve old-growth forests as well as economic opportunities in Brazil?

Accepted Answer

The answer of Which two companies are sourcing product components...

Question 14

Approximately 25 percent of the world population is included in the low-income countries category as per the World Bank classification system.

Accepted Answer

As of the latest data, low-income countries represent a smaller percentage of the world's population, with the majority of people living in middle-income countries according to the World Bank classification.

Question 15

Grocery distribution companies in Brazil use logistics software to route their trucks;meanwhile,horse-drawn carts are still a common sight on many roads.

Accepted Answer

Brazil is a country with vast socioeconomic diversity, and while modern logistics software is used by grocery distribution companies to optimize truck routes, horse-drawn carts are indeed still used in many areas, reflecting a blend of modern and traditional transportation methods.

Question 16

Nike produces only a small portion of its output in China,but when the firm refers to China as a "2-billion-foot market," it is referring to the fact that:

Accepted Answer

This statement implies that Nike sees China as a significant opportunity for market expansion, considering the large population (hence, "2-billion-foot" referring to the number of potential customers).

Question 17

Myanmar,a low-income country in Southeast Asia with a population of 52 million people,can be considered an emerging market.

Accepted Answer

Myanmar, despite its low-income status and various economic challenges, is considered an emerging market due to its significant growth potential, young workforce, and strategic location in Southeast Asia, which attracts foreign investment and development interest.

Question 18

Two of the smaller countries from the former Soviet Union,Tajikistan and Uzbekistan,fall into the lower-middle-income categories.

Accepted Answer

Tajikistan and Uzbekistan are classified as lower-middle-income economies by the World Bank, based on their gross national income (GNI) per capita.

Question 19

The World Bank has developed a four-category classification system for stages of marketing development,which uses a country's population as a base.

Accepted Answer

The World Bank classifies economies based on their gross national income (GNI) per capita, not based on stages of marketing development or a country's population.

Question 20

Most of the world's income is located in all of the following countries except:

Accepted Answer

Canada, while a wealthy nation, does not hold as much of the world's income compared to the economic powerhouses of Japan, the United States, Greater China, and Western Europe. These regions are known for their significant contributions to global GDP, with Canada being smaller both in terms of economy and population.

Quiz 2: The Global Economic Environment