Exam 4: Business in a Global Economy

If a restaurant chain sells the use of its brand name to a Singaporean investor in exchange for a fee and a percentage of sales,the restaurant is entering a foreign market through exporting.

If Ecuador has a dispute with France over the importation of bananas,from which agency can Ecuador seek arbitration?

Give an example of globalization of markets.

Which of the following BEST demonstrates that different countries have different attitudes toward work?

Which is better: a strong U.S.dollar or a weak U.S.dollar?

A term that describes the movement of production away from a domestic production site to a foreign location is ________ outsourcing.

A business can create a competitive or comparative advantage by doing all of the following EXCEPT ________.

A U.S.company exports products to Russia.The prices of the U.S.products in Russia are going up because the value of the dollar has ________ against Russia's currency.

All of the following contribute to accelerating globalization EXCEPT ________.

Airbus competes on the basis of price while selling a standardized or homogeneous product.The company is using a ________ strategy.

When a country drops its rule preventing the imports of foreign-made cars,it is increasing globalization through technological innovation.

What are multinational enterprises? How have they contributed to the growth of globalization?

When the value of a country's imports exceeds the value of its exports,the country is said to have a trade deficit.

In addition to exchange rates,what are three economic challenges to conducting international business?

What would cause a nation to lose its comparative (or competitive)advantage?

How do most economists feel about protectionist trade barriers?

A quota is a total restriction on an import or export.

Bribery is illegal all around the world.

In what way does a demand for a bribe by an international business partner present an ethical challenge to a U.S.businessperson?

Global companies can still do business with countries that have nonconvertible currencies through the use of ________.