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WGU C211: Global Economics for Managers Cengage Text Graded A+ Globalization ✔✔The close integration of countries and peoples of the world. Purchasing Power Parity (PPP) ✔✔A conversion that determines the equivalent a ...

WGU C211: Global Economics for Managers Cengage Text Graded A+ Globalization ✔✔The close integration of countries and peoples of the world. Purchasing Power Parity (PPP) ✔✔A conversion that determines the equivalent amount of goods and services that different currencies can purchase. Scenario Planning ✔✔A technique to prepare and plan for multiple scenarios (either high or low risk). Risk management ✔✔The identification and assessment of risks and the preparation to minimize the impact of high-risk , unfortunate events. Gross National Income (GNI) ✔✔GDP + income from non-resident sources abroad. GNI is the term used by the World Bank and other international organizations to supersede the term GNP. Gross National Product (GNP) ✔✔GDP + income from non-resident sources abroad. reverse innovation ✔✔An innovation that is adopted first in emerging economies and is then diffused around the world. International Business (IB) ✔✔(1) A business or firm that engages in international crossborder economic activities and/or (2) the action of doing business abroad. semiglobalization ✔✔A perspective that suggests that barriers to market integration at borders are high, but not high enough to insulate countries from each other completely. BRIC ✔✔Brazil, Russia, India, and China base of the pyramid (BOP) ✔✔Economies where people make less than $2,000 per capita per year. emerging economies ✔✔A term that has gradually replaced the term "developing countries" since the 1990's. emerging markets ✔✔A term that is often used interchangeably with "emerging economies" nongovernmental organizations (NGO's) ✔✔An organization that is not affiliated with governments. Expatriate Manager ✔✔A manager who works "abroad", or "expat" for short. Gross Domestic Product (GDP) ✔✔The sum of value added by resident firms, households, and governments Foreign Direct Investment (FDI) ✔✔Investment in, controlling, and managing value-added activities in other countries. Group of 20 (G-20) ✔✔The group of 19 major countries plus the European Union (EU) whose leaders meet on a biannual basis to solve glo

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