Correct answer: (D) To raise income and restrict imports
282. The following benefit is not expected from globalisation
Reaping the benefits of free trade
Better quality of life through choice of product
Better knowledge through compulsory education
Dissemination of information through new information technology
Correct answer: (C) Better knowledge through compulsory education
283. The cultural environment of a country is best defined by which characteristics?
Degree of nationalism and economic community membership
Production process and standards of measurement
Standard of living and stage of economic development
Values, attitudes, heroes, myths and symbols
Correct answer: (D) Values, attitudes, heroes, myths and symbols
284. Which of the following are positive reasons for internationalization?
Market diversification
Economies of scale
International competitiveness
All of the above
Correct answer: (D) All of the above
285. Profit may be defined as
the difference between total wage costs and total sales revenue
total revenue from sales
the difference between total production costs and total sales revenue
the amount of money paid to shareholders as dividends
Correct answer: (C) the difference between total production costs and total sales revenue
286. Which type of organization structure is characterized by departments or units dealing with specialized tasks?
Matrix
Divisional
Hierarchical
Functional
Correct answer: (D) Functional
287. The goods and the services produced, priced and distributed by the government is
Market economy
Secular economy
Command economy
Mixed economy
Correct answer: (C) Command economy
288. The transfer of the ownership of state property into the hands of the private individuals by the sale of state assets through auction is
Privatization
Liberalization
Globalization
Domestication
Correct answer: (A) Privatization
289. The focus on increasing profitability and profit growth by reaping the cost reduction that come from economies of scale is
global standardization strategy
localization strategy
transnational strategy
international strategy
Correct answer: (A) global standardization strategy
290. The entry mode that allow firms to export their process know- how to countries where FDI is prohibited, thereby enabling the firm earn greater return from this assets is ______________.