Exam 14: Export and Import

The perspective of ________ holds that as a company gains experience, resources, and confidence, it progressively increases its scope of countries to which it exports.

Barton Accessories has two retail stores and one production facility where the firm's line of leather belts and purses are assembled.Barton employs 430 people and generates nearly $1 million in revenue each year through domestic and international sales.Which term best describes the status of Barton?

The U.S.government has more than 10,000 tariff classifications and more than half of them are subject to interpretation.

Smithson Pottery is considered a regular exporter because the firm fills unsolicited orders from foreign buyers and passively investigates international trade options.

Which of the following is NOT a primary duty of the U.S.Customs and Border Protection?

Countertrade is an alternative means of structuring an international sale when ________.

Which of the following transactions refers to the sale of goods or services produced by a company based in one country to customers that reside in a different country?

The primary duty of the customs agency of a government is the assessment and collection of all duties, taxes, and fees on imported merchandise.

In the U.S., international trade is hampered by homeland security issues and delays.

A company classified as a small and medium-sized enterprise (SME)has fewer than 500 employees.

Fundamentally, countertrade is best described as a(n)________ transaction.

The ________ of a firm is the share of its total output that is exported.

Serendipity is often an export trigger for companies that purposefully look to internationalize their operations.

Exporters employ an export management company as part of an indirect exporting strategy.

An exporter that implements a(n)________ strategy does so with the intent to develop its own international marketing capability.

A(n)________ operates on a contractual basis and provides exclusive representation for an exporter's goods and services in a foreign market.

The basis for designing an effective export strategy most likely begins with ________.

Discuss the various ways a broker or other import consultant can help an importer minimize import duties.

Ownership advantages refer to a firm's specific assets, international experience, and the ability to develop either low-cost or highly differentiated products within the context of its particular value chain.

What are some reasons that firms decide to export their products or services? What does a firm need to consider when developing an export plan?