Question

1. Which of the following would you suggest is a drawback(s) of a regional trading bloc?

  Loss of national sovereignty

   Shifts in employment

   All of the above

   Trade diversion

2.

Businesspeople from ________ often arrive after the scheduled meeting time and prefer to spend time building personal trust before discussing business.

  the United States

   Northern Europe

   Canada

   Latin America

3.

Country M wants its regional trading group of countries to have a common currency and common monetary and fiscal policies. This level of integration is called a(n) ________.

  common market

   economic union

   free-trade area

   customs union

4.

Key characteristics of a ________ are an innovative culture and knowledge-based organizational capability.

developed nation

homogeneous company

globally diverse firm

born global firm

Answer 1

1. Here, correct answer is loss of national sovereignty

Explanation:

Due to regional trading bloc, we could see drawbacks like it put favors to their regional people and bring loss to national sovereignty, hence, correct answer is loss of national sovereignty, other options are not relevant, so, other options are eliminated.

2. Here, correct answer is Latin America

Explanation:

Business people from Latin American countries prefer to spend their time building personal trust before making or discussing about the businesses, they also take meeting informal way, so, they could arrive even after scheduled meeting time.

3. Here, correct answer is Economic union

Explanation:

Here, country M wants its regional trading group of countries to have or use same currency and follow common monetary and fiscal policies, that means they are creating economic union, here they are using same currency and sample policies to monitor the activities. Hence, correct answer is Economic union. Other options are irrelevant, so, other options are eliminated.

4. Here, correct answer is globally diverse firm

Explanation:

Globally diverse firms keep more emphasis on innovative culture and knowledge based practices, that could consider diversified people and they are hired based on their qualification and skill sets. Hence, correct answer is globally diverse firm.