D080 Managing in a Global Business Environment - Set 4 - Part 3

Correct Answer: Allowing users to store and control personal information

Blockchain technology provides a secure, decentralized way for individuals and businesses to store and control sensitive information, such as financial or personal data, in a tamper-proof system.

Correct Answer: To increase corporate transparency and reduce fraud

The Sarbanes-Oxley Act was enacted to improve corporate accountability and transparency by imposing strict regulations on financial reporting and auditing practices, especially for publicly traded companies.

Correct Answer: Common law

Common law is based on judicial precedents, where judges interpret laws and apply decisions from previous cases to make rulings on similar issues.

Correct Answer: To eliminate trade barriers and foster economic cooperation

Regional economic integration agreements like NAFTA and the EU aim to eliminate tariffs, quotas, and other barriers to trade between member countries to promote economic growth and cooperation.

Correct Answer: To promote the development of new communication technologies

The International Telecommunication Union (ITU) is a specialized agency of the United Nations that works to promote the development of global communication technologies and ensure international cooperation in telecommunications.

Correct Answer: Promotional pricing

Correct Answer: To collect and organize data for analysis

A Database Management System (DBMS) is a software solution that helps businesses store, manage, and analyze large volumes of data, allowing for efficient decision-making in global operations.

Correct Answer: Perfect competition

In a perfectly competitive market, many buyers and sellers exist, and no individual actor has significant market power to influence the price of goods or services.

Correct Answer: Lower upfront costs and broader market reach

Indirect distribution channels, such as wholesalers or retailers, allow businesses to reach a wider market with lower upfront costs, as these intermediaries handle much of the distribution process.

Correct Answer: Common market

A common market goes beyond a customs union by allowing not only the free flow of goods and services but also the free movement of capital, labor, and technology between member countries.