Exam 8: Importing,exporting,and Sourcing

In an effort to attract assembly operations,Brazil allows certain product components to be imported at reduced tariff rates.This is an example of:

"Piggyback exporter," "cooperative exporter," and "export vendor" are all terms used to describe an export broker.

Duty drawback refers to refunds of duties paid on imports that are processed or incorporated into other goods and then re-exported.

According to the recent import regulations in the United States,action figures that represent non-human creatures such as monsters or robots are categorized as toys and qualify for lower duties than human figures that are classified as dolls.

The MEA can act as an export distributor or as an export commission representative.However,the MEA does not perform the functions of an export department,and the scope of market activities is usually limited to a few countries.

Overall,Italy's retail sector has pursued very little international expansion;by contrast,other European supermarket chains such as Tesco (UK),Metro (Germany),and Carrefour (France)took local products and brands with them as they expanded around the globe.

Outsourcing means shifting undesirable jobs or work assignments to another company to cut costs.When the outsourced work moves to another country,the terms "global outsourcing" or "offshoring" are used.

Why does the tariff system vary from country to country? Explain,giving examples of tariffs imposed by the United States with particular emphasis on preferential tariffs.What are the conditions under which GATT allows the use of preferential tariffs?

Research has shown that exporting is essentially a developmental process that proceeds in different stages.Before a firm reaches stage 4,it must do which one of the following activities?

The four tigers-Singapore,South Korea,Taiwan,and Hong Kong-learned from the Japanese experience and built strong export-based economies of their own.

Which of the following correctly states the role of banks in import\export transactions involving a letter of credit (L\C)?

Developed under the auspices of the Custom Cooperation Council (now the World Customs Organization)the system which took effect is referred to as:

Tax incentives,subsidies,export assistance,and free trade zones are common support provided by governments to firms that engage in exporting.

In the post-September 11 business environment in the United States,imports have come under increased security.One of the initiatives taken in the interest of national security is:

________ are variously referred to as buyer for export,export commission house,or export confirming house.

Which of the following methods of financing would be used if the exporting and importing parties had a strong,long-standing relationship?

Which of the following financing methods would be used by an exporter that enjoys good relations with a buyer in a well-established market?

Which set of documents generally represents the minimum documentation required to clear a shipment through customs?

The so-called "China triangle" includes:

Paris is widely regarded as the design capitol of the world,where the world's largest furniture and home furnishings trade fair took place in 2016.