Question

QUESTION 1

1. Which of the following best describes the "economic" definition of operations?

   		The purpose of operations is to make money
   		The purpose of operations is to add value for customers
   		The purpose of operations is to transform inputs into outputs that exceed the number of inputs
   		The  purpose of operations is to achieve and then extend the efficient frontier

QUESTION 2

1. Which of the following terms best describes foreign direct investment?

   		Direct investing in, controlling, and managing value added activities in other countries
   		Direct investing in, controlling, and managing value added activities in other markets
   		Direct investing in shares of multinational enterprises
   		All of the above

QUESTION 3

1. Which of the following is an intangible asset?

   		Human resources and capabilities
   		Reputation resources and capabilities
   		Innovation resources and capabilities
   		All of these above are intangible assets

QUESTION 4

1. Culture is defined in the text as?

   		The communication between members of similar locations
   		The collective programing of the mind, which distinguishes the members of one group or category of people from another
   		The rapid rise in the percent of the population employed in information jobs is because productivity declines in other sectors of the economy have spurred demand for information services
   		The main component of formal institutions

QUESTION 5

1. The United States of America represents about _______ percentage of the world’s population.

   		44%
   		.04%
   		14%
   		4.4%

QUESTION 6

1. The government taking a “hands-off approach” is known as:

   		Forecasting
   		Command Economy
   		Laissez Faire
   		The Who Cares Approach

QUESTION 7

1. Democracy is defined as a(n) __________ in which citizens elect representatives to govern the country on their behalf.

   		Economic System
   		Political System
   		Legal System
   		Legion System

QUESTION 8

1. Turning over an organizations activity to an international firm is also called?

   		Captive Sourcing
   		Inshoring
   		Outsourcing
   		Offshoring

QUESTION 9

1. This is a condition or circumstance that makes stake holders require above and beyond current value of that capital.

   		Currency Risk
   		Currency Fear
   		Currency Impact
   		Currency Deflation

QUESTION 10

1. The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity is known as?

   		Competitive advantage
   		Comparative advantage
   		Cooperative advantage
   		The professor skipped this on the review sheet so I feel like I am not responsible for knowing it.

QUESTION 11

1. The United States allows all products, from any other country to be imported without limits.

   True

   False

QUESTION 12

1. As an American you can freely travel and spend money in any country in the world you want.

   True

   False

QUESTION 13

1. All resources and assets must be tangible for a company to be valuable.

   True

   False

QUESTION 14

1. Examples of an emerging economies are the Cayman Islands and Aruba.

   True

   False

QUESTION 15

1. A favorable balance of trade is when you import more than you export.

   True

   False

QUESTION 16

1. A trade deficit is when you export more than you import.

   True

   False

QUESTION 17

1. During our classroom ethics discussion the pivotal discussion was about possibly stolen tires?

   True

   False

QUESTION 18

1. The US Mint has never printed a $500 bill and it is not legal US tender currently.

   True

   False

QUESTION 19

1. The extra compensation that you receive for working abroad is known as an International Premium.

   True

   False

QUESTION 20

1. Ethics does not come into play in a global economy because they are different in each country.   

   True

   False

Answer 1

Answer 1. The purpose of operations is to transform inputs into outputs that exceed the number of inputs.

reason- Operation is to operate on the inputs such that the resulting output is greater than input.

Answer 2. Direct investing in, controlling, and managing value added activities in other countries

reason- FDI is the direct investment, controlling and managing a firm in a foreign country. Investing in shares is known as foreign portfolio investment

Answer 3. All of these above are intangible assets

reason- Intangible assets cannot be physically seen but atill adds to the assets of a firm like human resources, innovation capabilities etc.

Answer 4. The collective programing of the mind, which distinguishes the members of one group or category of people from another

reason- Culture includes every aspect of life which makes us different from the other group of people it includes food, festivals, language etc.

Note-According to HOMEWORKLIB RULES first four parts can be answered.