Question 1

An embargo is a ________.

Accepted Answer

A)  quantity restriction on the import of particular goods or services 
B)  surcharge imposed on import of certain products 
C)  subsidy offered to products exported from a country 
D)  complete ban on the import or export of certain products 
E)  form of financial assistance extended to domestic producers 
A)  quantity restriction on the import of particular goods or services 
B)  surcharge imposed on import of certain products 
C)  subsidy offered to products exported from a country 
D)  complete ban on the import or export of certain products 
E)  form of financial assistance extended to domestic producers

Question 2

Which of the following statements is true of the European Union (EU)?

Accepted Answer

A)  The EU has imposed hundreds of local regulations and variations in product standards for its member nations. 
B)  The European Union's membership now encompasses more than 150 countries. 
C)  Viewed as a whole, the EU now constitutes the world's largest economy. 
D)  The EU adopts protectionist measures to regulate trade among member countries. 
E)  The EU was formed primarily to monitor global financial developments and to alleviate poverty in developing economies. 
A)  The EU has imposed hundreds of local regulations and variations in product standards for its member nations. 
B)  The European Union's membership now encompasses more than 150 countries. 
C)  Viewed as a whole, the EU now constitutes the world's largest economy. 
D)  The EU adopts protectionist measures to regulate trade among member countries. 
E)  The EU was formed primarily to monitor global financial developments and to alleviate poverty in developing economies.

Question 3

________ refers to assigning a wide range of generalized (and often superficial or even false)attributes to an individual on the basis of membership in a particular culture or social group.

Accepted Answer

A)  Ethnocentrism 
B)  Stereotyping 
C)  Protectionism 
D)  Discerning 
E)  Culture shock 
A)  Ethnocentrism 
B)  Stereotyping 
C)  Protectionism 
D)  Discerning 
E)  Culture shock

Question 4

Transparency International is a(n)________.

Accepted Answer

A)  accounting agency that promotes the use of unified accounting systems across the world 
B)  watchdog group that works to reduce business-government corruption around the world 
C)  agency that works toward implementing protectionist regimes across the globe 
D)  agency of the United Nations that is formed to mediate international negotiations 
E)  agency of the United Nations that is formed to investigate transparency issues in international trade 
A)  accounting agency that promotes the use of unified accounting systems across the world 
B)  watchdog group that works to reduce business-government corruption around the world 
C)  agency that works toward implementing protectionist regimes across the globe 
D)  agency of the United Nations that is formed to mediate international negotiations 
E)  agency of the United Nations that is formed to investigate transparency issues in international trade

Question 5

When France wanted to reduce video cassette recorder (VCR)imports,it established elaborate procedures for importers to obtain customs clearances on shipments of VCRs and required importers to obtain special licenses to import these products.This is an example of a(n)________.

Accepted Answer

A)  export subsidy 
B)  embargo 
C)  import quota 
D)  tariff 
E)  restrictive import standard 
A)  export subsidy 
B)  embargo 
C)  import quota 
D)  tariff 
E)  restrictive import standard

Question 6

The North American Free Trade Agreement was formed by twelve North American countries.

Accepted Answer

A) True 
 B)False

Question 7

Explain how companies using a transnational strategy manage their business.

Accepted Answer

In the transnational strategy,a company

Question 8

John,a jewelry maker in Montana,receives international orders through his website.He ships the products from the production plant at Montana after receiving confirmed orders.This scenario is an example of ________.

Accepted Answer

A)  importing 
B)  exporting 
C)  licensing 
D)  FDI 
E)  franchising 
A)  importing 
B)  exporting 
C)  licensing 
D)  FDI 
E)  franchising

Question 9

Brazil is said to have a(n)________ in coffee beans because it can produce coffee beans more efficiently than other countries.

Accepted Answer

A)  credit advantage 
B)  balance of trade 
C)  trade surplus 
D)  trade deficit 
E)  comparative advantage 
A)  credit advantage 
B)  balance of trade 
C)  trade surplus 
D)  trade deficit 
E)  comparative advantage

Question 10

Compare and contrast the legal systems that exist in different parts of the world.

Accepted Answer

Differences in national legal systems ma

Question 11

Trading blocs are ________.

Accepted Answer

A)  international organizations that provide funds to advanced countries 
B)  regional organizations that promote protectionist principles 
C)  financial intermediaries that facilitate international transactions 
D)  regional organizations that promote trade among member nations 
E)  international organizations that provide funds to developing nations 
A)  international organizations that provide funds to advanced countries 
B)  regional organizations that promote protectionist principles 
C)  financial intermediaries that facilitate international transactions 
D)  regional organizations that promote trade among member nations 
E)  international organizations that provide funds to developing nations

Question 12

Dumping ________.

Accepted Answer

A)  involves selling a product at a price lower than the cost of production 
B)  is a strategy used by firms to enter an industrialized nation 
C)  refers to the practice of selling products in small quantities 
D)  is a strategy used by organizations to enter a developed market 
E)  is typically prevented by providing export subsidies to local producers 
A)  involves selling a product at a price lower than the cost of production 
B)  is a strategy used by firms to enter an industrialized nation 
C)  refers to the practice of selling products in small quantities 
D)  is a strategy used by organizations to enter a developed market 
E)  is typically prevented by providing export subsidies to local producers

Question 13

Culture is a shared system of symbols,beliefs,attitudes,values,expectations,and norms for behavior.

Accepted Answer

A) True 
 B)False

Question 14

The ________ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.

Accepted Answer

A)  World Trade Organization 
B)  World Commerce Center 
C)  European Union 
D)  North American Free Treaty 
E)  International Monetary Fund 
A)  World Trade Organization 
B)  World Commerce Center 
C)  European Union 
D)  North American Free Treaty 
E)  International Monetary Fund

Question 15

Compare and contrast strategic alliances with joint ventures.

Accepted Answer

Strategic alliances are long-term partne

Question 16

A country that imports more than it exports would have a trade surplus.

Accepted Answer

A) True 
 B)False

Question 17

________ refers to buying goods or services from a supplier in another country.

Accepted Answer

A)  Franchising 
B)  Importing 
C)  Licensing 
D)  Partnering 
E)  Intermediating 
A)  Franchising 
B)  Importing 
C)  Licensing 
D)  Partnering 
E)  Intermediating

Question 18

Which of the following is a main feature of protectionism?

Accepted Answer

A)  high levels of risks for domestic industries 
B)  increased risk for local workers 
C)  compromise on national security 
D)  governmental intervention in trade 
E)  formation of trade blocs between nations 
A)  high levels of risks for domestic industries 
B)  increased risk for local workers 
C)  compromise on national security 
D)  governmental intervention in trade 
E)  formation of trade blocs between nations

Question 19

________ is the tendency to judge all other groups according to one's own group's standards,behaviors,and customs.

Accepted Answer

A)  Stereotyping 
B)  Protectionism 
C)  Discerning 
D)  Culture shock 
E)  Ethnocentrism 
A)  Stereotyping 
B)  Protectionism 
C)  Discerning 
D)  Culture shock 
E)  Ethnocentrism

Question 20

________ are a form of financial assistance in which producers receive enough money from the government to allow them to lower their prices.

Accepted Answer

A)  Export subsidies 
B)  Embargoes 
C)  Tariffs 
D)  Sanctions 
E)  Export quotas 
A)  Export subsidies 
B)  Embargoes 
C)  Tariffs 
D)  Sanctions 
E)  Export quotas

An embargo is a ________.

Which of the following statements is true of the European Union (EU)?

________ refers to assigning a wide range of generalized (and often superficial or even false)attributes to an individual on the basis of membership in a particular culture or social group.

Transparency International is a(n)________.

When France wanted to reduce video cassette recorder (VCR)imports,it established elaborate procedures for importers to obtain customs clearances on shipments of VCRs and required importers to obtain special licenses to import these products.This is an example of a(n)________.

The North American Free Trade Agreement was formed by twelve North American countries.

Explain how companies using a transnational strategy manage their business.

John,a jewelry maker in Montana,receives international orders through his website.He ships the products from the production plant at Montana after receiving confirmed orders.This scenario is an example of ________.

Brazil is said to have a(n)________ in coffee beans because it can produce coffee beans more efficiently than other countries.

Compare and contrast the legal systems that exist in different parts of the world.

Trading blocs are ________.

Dumping ________.

Culture is a shared system of symbols,beliefs,attitudes,values,expectations,and norms for behavior.

The ________ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.

Compare and contrast strategic alliances with joint ventures.

A country that imports more than it exports would have a trade surplus.

________ refers to buying goods or services from a supplier in another country.

Which of the following is a main feature of protectionism?

________ is the tendency to judge all other groups according to one's own group's standards,behaviors,and customs.

________ are a form of financial assistance in which producers receive enough money from the government to allow them to lower their prices.

Developing a Business Mindset

Understanding Basic Economics

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters

Exam 3: The Global Marketplace

An embargo is a ________.

Which of the following statements is true of the European Union (EU)?

________ refers to assigning a wide range of generalized (and often superficial or even false)attributes to an individual on the basis of membership in a particular culture or social group.

Transparency International is a(n)________.

When France wanted to reduce video cassette recorder (VCR)imports,it established elaborate procedures for importers to obtain customs clearances on shipments of VCRs and required importers to obtain special licenses to import these products.This is an example of a(n)________.

The North American Free Trade Agreement was formed by twelve North American countries.

Explain how companies using a transnational strategy manage their business.

John,a jewelry maker in Montana,receives international orders through his website.He ships the products from the production plant at Montana after receiving confirmed orders.This scenario is an example of ________.

Brazil is said to have a(n)________ in coffee beans because it can produce coffee beans more efficiently than other countries.

Compare and contrast the legal systems that exist in different parts of the world.

Trading blocs are ________.

Dumping ________.

Culture is a shared system of symbols,beliefs,attitudes,values,expectations,and norms for behavior.

The ________ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.

Compare and contrast strategic alliances with joint ventures.

A country that imports more than it exports would have a trade surplus.

________ refers to buying goods or services from a supplier in another country.

Which of the following is a main feature of protectionism?

________ is the tendency to judge all other groups according to one's own group's standards,behaviors,and customs.

________ are a form of financial assistance in which producers receive enough money from the government to allow them to lower their prices.

Developing a Business Mindset

Understanding Basic Economics

Business Ethics and Corporate Social Responsibility

Forms of Ownership

Entrepreneurship and Small Business Ownership

Management Roles, Functions, and Skills

Organization and Teamwork

Production Systems

Employee Motivation

Human Resources Management

Labor Relations

The Art and Science of Marketing

Product and Pricing Strategies

Distribution and Marketing Logistics

Customer Communication

Financial Information and Accounting Concepts

Financial Management

Financial Markets and Investment Strategies

The Money Supply and Banking Systems

Filters