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Unformatted text preview: business decisions. TRUE 13. The trend from distinct national economic units and toward one huge global market is commonly referred to as: A. market standardization. B. cross‐border integration. C. globalization. D. internationalization. 14. The globalization of _____ refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production. A. information technology B. process design C. markets D. production 15. Which of the following can be traced to an ancient Greek philosopher, Aristotle? A. Collectivism B. Individualism C. Som D. Totalitarianism 16. In what kind of economy is production determined by the interaction of supply and demand and signaled to producers through the price system? A. Mixed economy B. Command economy C. Market economy D. Trade economy 17. _____ is one of the defining characteristics of a culture. A. Language B. Wealth C. Business D. Networking Page 2 of 3 131017 B1 Week 2...
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- Spring '12