Exam 3: Doing Business in Global Markets

In the past, foreign companies have adapted to U.S. culture more easily than U.S firms have adapted to foreign cultures.

Which of the following statements describes laws and regulations in global markets?

_______ is a complex form of bartering in which several countries may be involved, each trading products and services for the products and services of another country.

Which of the following nations has joined the U.S., Japan, and the EU as a key driver of the world economy?

Today, there are more countries that have some form of absolute advantage in a product or service, than years ago.

Bartering is the exchange of goods or services for other goods or services without the exchange of money.

Disney contracted with a firm in China to open a Disneyland theme park in Shanghai. This is an example of a joint venture.

A favorable balance of trade occurs when the value of a country's exports exceeds the value of its exports.

American companies that produce sophisticated military weaponry are prohibited from exporting that equipment to unfriendly governments, such as Iran. This complete ban on exporting sensitive technology to specific countries is an example of a(n)

What is a benefit of contracting with export trading companies?

Don was messing around with his new tablet and checking out its features, but he was struggling. His warranty gave him three months of free technical support, so he quickly called the tech support number. After waiting on hold, he finally got through to a technician but though they were both speaking English, the technician's accent was difficult for Don to understand. As he listened carefully to every word the technician provided, he thought to himself, "There are some pros and cons to outsourcing. I'm not certain the service is adding value for the customer." Don was correct.

Serentia, a small nation, has a small automotive industry and is struggling to keep up with larger international automobile manufacturers. Other countries in Serentia's trading bloc have agreed on an import quota on other nations, which limits the number of cars that any country in the trading bloc can buy from other auto manufacturers. This strategy is necessary to help Serentia's auto manufacturer while it is in its infancy.

Nicky Larson, a well-known American celebrity, promoted a line of clothing that was accused of supporting child labor in a Bangladesh factory. Although her image was immediately tarnished, she quickly was able to close down the unethical operation due to a violation of international law.

The federal government created ________ to help small and medium-sized businesses get involved in exporting.

In order to level the playing field in trade between the U.S. and China, U.S. policymakers have called upon China's government to allow the yuan to float freely, as other world currencies. Through government regulation, China maintains an undervalued currency, which results in

An example of a U.S. import would be the purchase of oil by U.S. companies from Saudi Arabia.

A major concern voiced by U.S. critics of the North American Free Trade Agreement (NAFTA) was that it would result in

When foreign firms build production facilities in the United States, they are engaging in

As a business strategy, the strategy behind dumping is to

Foreign travel can help in identifying global business opportunities.