{"id":129178,"date":"2023-12-01T12:55:07","date_gmt":"2023-12-01T12:55:07","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=129178"},"modified":"2023-12-01T12:55:08","modified_gmt":"2023-12-01T12:55:08","slug":"wgu-c211-global-economics-for-managers-complete-terms-questions-and-verified-answers-100-correct-new-2023-2024-update","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/12\/01\/wgu-c211-global-economics-for-managers-complete-terms-questions-and-verified-answers-100-correct-new-2023-2024-update\/","title":{"rendered":"WGU C211 Global Economics for Managers Complete Terms| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update)"},"content":{"rendered":"\n<p>WGU C211 Global Economics for Managers Complete Terms| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update)<\/p>\n\n\n\n<p>WGU C211 Global Economics for Managers<br>Complete Terms| Questions and Verified<br>Answers| 100% Correct (New 2023\/ 2024<br>Update)<br>QUESTION<br>What is Scenario Planning<br>Answer:<br>A technique to prepare and plan for multiple scenarios (either high or low risk).<br>QUESTION<br>What is Semi-globalization<br>Answer:<br>A perspective that suggests that barriers to market integration at borders are high, but not high<br>enough to insulate countries from each other completely.<br>QUESTION<br>What is Triad<br>Answer:<br>North America, Western Europe, and Japan.<br>QUESTION<br>What is Absolute Advantage<br>Answer:<br>The economic advantage one nation enjoys that is absolutely superior to other nations.<\/p>\n\n\n\n<p>QUESTION<br>What is Administrative Policy<br>Answer:<br>Bureaucratic rules that make it harder to import foreign goods.<br>QUESTION<br>What is Antidumping Duty<br>Answer:<br>Tariffs levied on imports that have been &#8220;dumped&#8221; (selling below costs to &#8220;unfairly&#8221; drive<br>domestic firms out of business).<br>QUESTION<br>What is Balance of Trade<br>Answer:<br>The aggregation of importing and exporting that leads to the country-level trade surplus or<br>deficit.<br>QUESTION<br>What is Classical Trade Theories<br>Answer:<br>The major theories of international trade that were advanced before the 20th century, which<br>consist of (1) mercantilism, (2) absolute advantage, and (3) comparative advantage.<br>QUESTION<br>What is Comparative Advantage<br>Answer:<\/p>\n\n\n\n<p>Relative (not absolute) advantage in one economic activity that one nation enjoys in comparison<br>with other nations.<br>QUESTION<br>What is Dead Wight Cost (also called Dead Weight Loss)<br>Answer:<br>Net losses that occur in an economy as a result of tariffs.<br>QUESTION<br>What is Export (X)<br>Answer:<br>Selling abroad.<br>QUESTION<br>What is Factor Endowment<br>Answer:<br>The extent to which different countries possess various factors of production such as labor, land,<br>and technology.<br>QUESTION<br>What is Factor Endowment Theory (or Herchscher-Ohlin theory)<br>Answer:<br>A theory that suggests that nations will develop comparative advantages based on their locally<br>abundant factors.<br>QUESTION<br>What is First-mover advantage<\/p>\n\n\n\n<p>Answer:<br>Advantage that first movers enjoy and do not share with late entrants.<br>QUESTION<br>What is Free Trade<br>Answer:<br>The idea that free market forces should determine how much to trade with little or no<br>government intervention.<br>QUESTION<br>What is Import (M)<br>Answer:<br>Buying from abroad.<br>QUESTION<br>What is Import Quota<br>Answer:<br>Restriction on the quantity of imports (goods bought from abroad).<br>QUESTION<br>What is Import Tariff<br>Answer:<br>A tax imposed on imports.<br>QUESTION<br>Powered by <a href=\"https:\/\/learnexams.com\/search\/study?query=\" target=\"_blank\" rel=\"noopener\">https:\/\/learnexams.com\/search\/study?query=<\/a><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-GLOBAL-ECONOMICS-FOR-MANAGERS-COMPLETE-TERMS-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of WGU-C211-GLOBAL-ECONOMICS-FOR-MANAGERS-COMPLETE-TERMS-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.\"><\/object><a id=\"wp-block-file--media-6fdeb06c-8984-4531-b9aa-bb56aa66d86e\" href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-GLOBAL-ECONOMICS-FOR-MANAGERS-COMPLETE-TERMS-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" target=\"_blank\" rel=\"noopener\">WGU-C211-GLOBAL-ECONOMICS-FOR-MANAGERS-COMPLETE-TERMS-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE<\/a><a href=\"https:\/\/learnexams.com\/blog\/wp-content\/uploads\/2023\/12\/WGU-C211-GLOBAL-ECONOMICS-FOR-MANAGERS-COMPLETE-TERMS-QUESTIONS-AND-VERIFIED-ANSWERS-100-CORRECT-NEW-2023-2024-UPDATE.pdf\" class=\"wp-block-file__button wp-element-button\" aria-describedby=\"wp-block-file--media-6fdeb06c-8984-4531-b9aa-bb56aa66d86e\" download target=\"_blank\" rel=\"noopener\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>WGU C211 Global Economics for Managers Complete Terms| Questions and Verified Answers| 100% Correct (New 2023\/ 2024 Update) WGU C211 Global Economics for ManagersComplete Terms| Questions and VerifiedAnswers| 100% Correct (New 2023\/ 2024Update)QUESTIONWhat is Scenario PlanningAnswer:A technique to prepare and plan for multiple scenarios (either high or low risk).QUESTIONWhat is Semi-globalizationAnswer:A perspective that suggests that 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