Wgu C211 Global Economics For Managers Answers

International Business: Business that engages in international economic activities or the action of doing business abroad. Global Business: Business around the globe including both international (cross-border) activities and domestic business activities.What is Globalization?Multinational Enterprise (MNE): Firm that engages in FDIGlobal business also addresses domestic firms competing and/or collaborating with foreign entrants. Foreign Direct Investment (FDI): Investments in controlling, and managing value-added activities in other countries. Firms in Global BusinessGlobal Business is not limited to firms competing in developed economies. Emerging Economies (Markets): A term that has gradually replaced the term "developing countries" since the 1990s. Gross National Product (GNP): Measured as the sum of value added by resident firms, households, and government operating in an economy.Gross Domestic Product (GDP): Total market value of all goods and services produced within country in a given period of time usually a calendar year.Gross National Income (GNI): GDP plus income from nonresident sources abroad -the term used by the World Bank and other international organizations to supersede the GNP term. Purchasing Power Parity (PPP): adjustment made to the GDP to reflect difference in the cost of living. Triad: North America, Western Europe and Japan BRIC: Acronym for the emerging economies of Brazil, Russia, India,