Neoliberalism Argues That Global Free Trade Will Enable All Countries

question 63

Multiple Choice

Neoliberalism argues that global free trade will enable all countries to prosper and therefore it is necessary to:

• A) continue to promote the logic of growth
• B) eliminate all governmental regulation and disavow a minimum wage and other labor laws
• C) loan money with interest to the NIE countries so they have capital to invest in their economies
• D) ignore political and military power
• E) enable third world governments to regulate wage and labor laws

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Definitions:

Cymbal Market

A niche market segment focused on the trade and distribution of cymbals, which are thin, round, metal plates used as musical instruments.

Product Changes

Alterations made to a product’s design, specifications, or features to improve performance, appeal, or to meet regulatory standards.

Universal Process Approach

A conceptual framework that suggests principles and processes used by managers are universally applicable to all organizations, regardless of type, size, or location.

Henry Fayol

A French engineer and management theorist who is best known for developing one of the earliest theories of management, emphasizing organizational structure, management process, and the key functions of management.