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Name : Do Huyen Trang

Number (ID): 11195215

Class: EBDB-1 or EBBA 11.2: EBDB-1

Please send this page with your answers back to me ([email protected])

I MUST have received your answers by 22.15 Hanoi time (i.e. 15 minutes after
the end of the lesson).

If I do not receive your answers before 22.15 You will NOT be scored.

EBBA – Midcourse exam April, 2021

Exams questions (30-40”)

You may use dictionaries to answer any of the questions;

Answer all questions

1. Suppose you paid £300 to take an economics course, which meets 30 times for one
hour a class, during the course of the semester. Instead of attending class, you could
have either flipped hamburgers for £5 an hour or waited tables for £15 an hour. Given
this information, the opportunity cost of attending each class session is:
A. £0
B. £5
C. £15
D. £300
E. £315

2. Which of the following are factors of production?

(i) land (v) rent
(ii) interest (vi) wages
(iii) labour (vii) profit
(iv) raw materials (viii) capital

A. (i), (ii), (iv) and (viii)

B. (iii), (iv) and (viii)
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C. (ii), (iii), (iv) and (vi)

D. (i), (iii), (iv) and (viii)
E. (iii), (v), (vi) and (vii)

Write your answers after each question as clearly as possible.

You can use bullet points if you feel that is a better way of answering the
questions.

1. Name one factor that has contributed to globalisation and give reasons
how it contributes to globalisation?
Answer:

The factor that has to globalization is Liberalization (opening) of cross-border

trade and resource movements:

Trade liberalization allows countries to trade goods without legal barriers or their
associated costs. Help reduce barriers to trade between countries, such as taxes or
the movement of goods. Allowing international movements of goods, services,
capital, technology, and people affect the integration of world economies.
Connectivity has widened people's access to more diverse resources, products,
services, and markets. Making globalization easier to connect people and the
economy can be motivated more development.

2. With two clear examples, explain how the Vietnamese government can
influence how foreign firms conduct business in Vietnam? Give an
explanation of how the tools/policies can be used.
Answer:

The government will also have authority over offshore activities if there is an
impact on the domestic market. The law will apply to foreign entities part of
competition-restricting agreements, economic concentration, or other unfair
activities even if they do not have a subsidiary in Vietnam.

In addition, public service units – such as hospitals and schools – have been
brought under the ambit of the law, which was not the case in the previous
version.

Regulatory bodies
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Under the new law, the existing Vietnam Competition Authority and the
Vietnam Competition Council have been merged to form the National
Competition Committee (NCC). The Competition Investigation Agency has
also been established under the NCC; it will be responsible for monitoring and
investigating breaches of competition law.

3. Should all companies be required to have an ethical/moral code of practice

contract, so that when supplying an international company they comply
with their (the international company’s) ethical requirements? Why or
why not?
Answer:
Companies should have a contract of practice / ethics so that when supplying
an international company, they comply with their ethical requirements
(international companies)!
Many companies around the world face serious financial problems and even go
bankrupt because of unethical or illegal actions by managers. Often a
company's policy is influenced by a leader. Individuals who may have high
standards of ethical behavior can be translated into corporate policy. Goals
should come from the code of ethics:
1. Fairness in developing competitive advantage.
Responsible behavior contributes to strategic and financial success because it
fosters fair competition.
2. Recognize a company with a social responsibility.
Ensure that individual and business behavior is in the best interests of the
broader community and that the law is being duly followed.
The law is an important basis for moral behavior, but not every unethical act is
a violation of the law. So, a company needs to have ethical standards in order
to avoid unnecessary risky events. From these goals will help companies
operate in countries where both corporate social responsibility and
environmental regulation are high, rules and expectations are transparent.
Common standards of ethical behavior should be observed everywhere.

4. How do you think the structure of companies will change in Vietnam in

the next 10 years? And, why do you think that? Explain with examples.
Answer:
The structure in Vietnam in the next 10 years will of course have to change. In
just about 5 years, the digital age will begin to develop. So after these 10 years,
Vietnam will restructure business systems, management structure, business
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operating system and division management will also change. There will be
advanced technologies developing, most people will modernize the digital
industry, which can be called digital transformation.
For example: Developed countries are doing this digital transformation. So
catching up with the times is a must. People are gradually managing stores
using a computer system instead of hiring staff as before. Then there will be a
new future, companies structure will change gradually according to different
training managers. Different certifications are required.

5. Why is it important for governments to impose restrictions and tariffs on

foreign goods?
Answer:

Governments use a variety of reasons and seek a range of results as they try to
influence exports or imports. Choosing a trade control tool is important
because each can provoke different reactions from groups at home and abroad.
One way to understand trade control tools is to distinguish between two
different types of effects:
Factors that indirectly affect the volume of transactions by directly affecting
import or export prices
Things that directly limit the amount of goods that can be traded

Countries put up barriers to trade for a number of reasons. Sometimes it is to

protect their companies from foreign competition. Or it could be to protect
consumers from dangerous or unwanted products. Or it can even happen
unintentionally, as can happen with complicated customs clearance

6. Name 3 factors that put off (disincentives) investors from investing in a

country and give details of how the investors are put off.
Answer:
1. Salary
Outsourcing production to lower-wage countries is a huge opportunity for
foreign companies to spend abroad.
2. Taxes:
Multinational corporations have tended to expand in countries where
corporate tax rates are smaller. As a result, countries that produce
differentiated or lower-cost goods gain a competitive edge.
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3. Experience and qualifications

Any businesses necessitate a higher level of expertise. As a result,
multinational corporations would invest in countries where incomes are
poor but competitiveness and expertise are high.

7. What tools/methods should a company use to analyse demand for their

product or service on the market and what should they pay attention to
when analysing customers’ requirements?
Answer:
1-Use sample customer sets

Sample customer analysis

a / Survey
Surveys are used to get quantitative information.
b / Interview
To interview you need a smaller client base. The information obtained is
qualitative.

Exploiting customer information

2-Use old customer information
This is also a good way to analyze customer needs. You can apply the above
two methods to analyze this old group of customers.
Find out why they choose you over the competition? Why are they more
satisfied with you?
3-Analyze the customers of direct competitors
Your direct competitor's customers were also your potential customers. Or
more precisely, they are still your potential customers.
Each business has its own difference, find out what their customers are
satisfied with that your business does not have. From there contribute to more
perfecting your product.

8. What is the difference between natural and acquired advantages for doing
business, give examples.
Answer:
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1, Advantage by Nature
Climate environments, proximity to certain natural resources, and the
availability of certain labor forces all contribute to a country's natural
advantage in producing a good or service.

Costa Rica, for example, has a climate and soil that support the cultivation of
bananas, pineapples, and coffee, as well as a booming ecotourism industry.
Wheat is imported into Costa Rica. It will have to use land now dedicated to
the farming of bananas, pineapples, and coffee, or turn any of its biodiverse
national park areas to agricultural production, limiting those profits, if it were
to expand wheat production, for which its climate and geography are less
suitable.

2, Advantage Acquired
Rather than raw products and natural commodities, industrial goods account
for the majority of today's global trade. Countries with a comparative edge in
consumer products often have a gained advantage in product or process
technology. Product technology has the advantage of allowing a country to
manufacture a one-of-a-kind or readily distinguishable product from its rivals.

Denmark, for example, exports silver tableware not because of rich silver
mining in the country, but because Danish companies have created unique
goods.

9. When communicating with people across borders what challenges must an

individual be aware of and what advice would you give someone who is
going to work globally in a multinational company?
A person must connect with a new environment, a new culture will have many
challenges, of course there will be two sides of it:
+ Challenges and advice:
1,Language and cultural differences: You need to at least understand what
they say and understand their style to avoid misunderstandings. Should learn
culture earlier.
2,Issues of international laws and regulations: There are provisions that must
be understood and avoided so that there may be no unnecessary risks of
misunderstanding.
3,Slower pace: New entry into a new environment will overwhelm you with
the speed of work that varies from country to country, so if the company has a
general rule, it is necessary to practice rigorously to avoid penalty and reviews.
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4,Competing with each other: Between people in the company, new hires and
from many different countries, with different knowledge backgrounds, so it
needs to work hard to gain credibility.
5,New missions and challenges: If your supervisor assigns or assigns a new
task to you, do not be uncomfortable. You should be willing, willing to accept,
and do your best to complete the job well.
6,Always be active
Your image and working attitude towards people are very important, you
should never be negative or indifferent to work. Always be active, active and
always have an open mind, positive.

7,Should be specified with examples

If you want people to trust more and prove your leadership, when making a
certain point or point, you should give specific examples, especially examples
where you really do. show up to others.

8,Listen and should watch

In fact, it is very difficult for you to fully understand the work and the people
around. Listen to analyze the problem and please slowly, observe and try to
learn carefully, in detail what is happening to get the best behavior and
handling.

In general, regardless of the new environment, there will be certain

disadvantages, which must be experienced by the visitors.