The ________ Phase of Globalization Began Around 1900 and Was

question 68

Multiple Choice

The ________ phase of globalization began around 1900 and was associated with the rise of electricity and steel production.

• A) first
• B) second
• C) third
• D) fourth

Differentiate between behavioral economics and traditional economic models.

Explain the roles and importance of the IMF and WTO in international trade and economics.

Identify ethical issues specific to multinational corporations and international business practices.

Understand the concepts of behavioral economics with regard to human decision-making.

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Definitions:

Theory of Misrepresentation

A legal concept indicating that an agreement can be annulled if consent was obtained through false statements.

No Training

Indicates a situation or condition where education or instruction has not been provided.

Partially Disclosed Principal

A partially disclosed principal is a party in an agency relationship whose existence is known to a third party, but their identity is not revealed.

Undisclosed Principal

A person who directs another to deal with a third party without revealing their identity.