Question 1

The widening set of interdependent relationships among people from different parts of the world is known as ________.

Accepted Answer

A)  globalization 
B)  offshoring 
C)  franchising 
D)  outsourcing 
A)  globalization 
B)  offshoring 
C)  franchising 
D)  outsourcing

Question 2

Which of the following best defines international business?

Accepted Answer

A)  It includes all economic flows between two or more countries. 
B)  It includes all private economic flows between two or more countries. 
C)  It includes all business transactions involving two or more countries. 
D)  It includes all business transactions in countries other than your home country. 
A)  It includes all economic flows between two or more countries. 
B)  It includes all private economic flows between two or more countries. 
C)  It includes all business transactions involving two or more countries. 
D)  It includes all business transactions in countries other than your home country.

Question 3

Scenario: Topsy Turvey Toys and Ureshi Toys
Topsy Turvey Toys is a U.S.-based toy retailer that buys all its merchandise from Ureshi Toys, a Japan-based toy manufacturer with production facilities in twelve nations. Ureshi Toys markets its toys globally without modification.
-The products that Ureshi Toys manufactures are examples of ________.

Accepted Answer

A)  global products 
B)  niche products 
C)  intangible products 
D)  customized products 
A)  global products 
B)  niche products 
C)  intangible products 
D)  customized products

Question 4

Gross national product (GNP)is the value of all goods and services imported into a country over a one-year period.

Accepted Answer

A) True 
 B)False

Question 5

The purpose of the General Agreement on Tariffs and Trade (GATT)was to ________.

Accepted Answer

A)  create an international currency 
B)  regulate exchange rates 
C)  create regional trade organizations 
D)  promote free trade 
A)  create an international currency 
B)  regulate exchange rates 
C)  create regional trade organizations 
D)  promote free trade

Question 6

Kireki is a small country with a corrupt government.Its population is rural for most part and citizens have few or no legal rights.Which of the following is the type of market featured in Kireki?

Accepted Answer

A)  developed market 
B)  traditional market 
C)  emerging market 
D)  virtual market 
A)  developed market 
B)  traditional market 
C)  emerging market 
D)  virtual market

Question 7

Resistance to worldwide trade agreements has resulted in some nations placing greater emphasis on regional pacts.

Accepted Answer

A) True 
 B)False

Question 8

How might a company benefit from the globalization of production?

Accepted Answer

The globalization of production refers t

Question 9

Which of the following has NOT been a major force increasing globalization in recent decades?

Accepted Answer

A)  liberalization of cross-border trade 
B)  increase in and expansion of technology 
C)  growing pressure from consumers 
D)  decreasing prices of natural resources 
A)  liberalization of cross-border trade 
B)  increase in and expansion of technology 
C)  growing pressure from consumers 
D)  decreasing prices of natural resources

Question 10

The World Trade Organization's dispute settlement system has the ability to penalize offending nations.

Accepted Answer

A) True 
 B)False

Question 11

________ are all goods and services sold abroad and sent out of a country.

Accepted Answer

A)  Net national products 
B)  Exports 
C)  Gross domestic products 
D)  Imports 
A)  Net national products 
B)  Exports 
C)  Gross domestic products 
D)  Imports

Question 12

To minimize the economic inequality within developing nations,studies suggest that the nations can boost incomes of their poorest citizens by ________.

Accepted Answer

A)  rejecting globalization and sheltering themselves from exploitation 
B)  embracing globalization and integrating themselves into the global economy 
C)  fortifying trade barriers and discouraging exports 
D)  encouraging economic independence and restricting imports 
A)  rejecting globalization and sheltering themselves from exploitation 
B)  embracing globalization and integrating themselves into the global economy 
C)  fortifying trade barriers and discouraging exports 
D)  encouraging economic independence and restricting imports

Question 13

Scenario: Topsy Turvey Toys and Ureshi Toys
Topsy Turvey Toys is a U.S.-based toy retailer that buys all its merchandise from Ureshi Toys, a Japan-based toy manufacturer with production facilities in twelve nations. Ureshi Toys markets its toys globally without modification.
-Topsy Turvey Toys buying its merchandise from Ureshi Toys is an example of ________.

Accepted Answer

A)  importing 
B)  exporting 
C)  outsourcing 
D)  insourcing 
A)  importing 
B)  exporting 
C)  outsourcing 
D)  insourcing

Question 14

Multinational corporations (MNCs)have direct investments abroad in multiple countries.

Accepted Answer

A) True 
 B)False

Question 15

Goods and services purchased abroad and brought into a country are called ________.

Accepted Answer

A)  gross domestic products 
B)  exports 
C)  gross national products 
D)  imports 
A)  gross domestic products 
B)  exports 
C)  gross national products 
D)  imports

Question 16

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

Accepted Answer

A) True 
 B)False

Question 17

Small businesses will be completely immune to events in the international business environment.

Accepted Answer

A) True 
 B)False

Question 18

Gentian Violet is a dye manufacturing company that uses computer networks to sell its products,service customers,and collaborate with partners.Which of the following technologies is the company engaging in this scenario?

Accepted Answer

A)  rapid prototyping 
B)  e-business 
C)  simulation 
D)  console automation 
A)  rapid prototyping 
B)  e-business 
C)  simulation 
D)  console automation

Question 19

One argument in the debate surrounding globalization is about the inequality between nations.Discuss the major points of the inequality between nations argument and describe how falling barriers to trade and investment might help reduce the inequality between nations.

Accepted Answer

The inequality between nations debate qu

Question 20

________ place limits on the quantity of a product being imported.

Accepted Answer

A)  Embargoes 
B)  Trade blocs 
C)  Nontariff barriers (Quotas) 
D)  Anti-dumping duties 
A)  Embargoes 
B)  Trade blocs 
C)  Nontariff barriers (Quotas) 
D)  Anti-dumping duties

The widening set of interdependent relationships among people from different parts of the world is known as ________.

Which of the following best defines international business?

Gross national product (GNP)is the value of all goods and services imported into a country over a one-year period.

The purpose of the General Agreement on Tariffs and Trade (GATT)was to ________.

Kireki is a small country with a corrupt government.Its population is rural for most part and citizens have few or no legal rights.Which of the following is the type of market featured in Kireki?

Resistance to worldwide trade agreements has resulted in some nations placing greater emphasis on regional pacts.

How might a company benefit from the globalization of production?

Which of the following has NOT been a major force increasing globalization in recent decades?

The World Trade Organization's dispute settlement system has the ability to penalize offending nations.

________ are all goods and services sold abroad and sent out of a country.

To minimize the economic inequality within developing nations,studies suggest that the nations can boost incomes of their poorest citizens by ________.

Multinational corporations (MNCs)have direct investments abroad in multiple countries.

Goods and services purchased abroad and brought into a country are called ________.

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

Small businesses will be completely immune to events in the international business environment.

Gentian Violet is a dye manufacturing company that uses computer networks to sell its products,service customers,and collaborate with partners.Which of the following technologies is the company engaging in this scenario?

One argument in the debate surrounding globalization is about the inequality between nations.Discuss the major points of the inequality between nations argument and describe how falling barriers to trade and investment might help reduce the inequality between nations.

________ place limits on the quantity of a product being imported.

Cross-Cultural Business

Political Economy and Ethics

Economic Development of Nations

International Trade Theory

Political Economy of Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Monetary System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters

Exam 1: Globalization

The widening set of interdependent relationships among people from different parts of the world is known as ________.

Which of the following best defines international business?

Gross national product (GNP)is the value of all goods and services imported into a country over a one-year period.

The purpose of the General Agreement on Tariffs and Trade (GATT)was to ________.

Kireki is a small country with a corrupt government.Its population is rural for most part and citizens have few or no legal rights.Which of the following is the type of market featured in Kireki?

Resistance to worldwide trade agreements has resulted in some nations placing greater emphasis on regional pacts.

How might a company benefit from the globalization of production?

Which of the following has NOT been a major force increasing globalization in recent decades?

The World Trade Organization's dispute settlement system has the ability to penalize offending nations.

________ are all goods and services sold abroad and sent out of a country.

To minimize the economic inequality within developing nations,studies suggest that the nations can boost incomes of their poorest citizens by ________.

Multinational corporations (MNCs)have direct investments abroad in multiple countries.

Goods and services purchased abroad and brought into a country are called ________.

Extranets give distributors and suppliers access to a company's database to place orders or restock inventories electronically.

Small businesses will be completely immune to events in the international business environment.

Gentian Violet is a dye manufacturing company that uses computer networks to sell its products,service customers,and collaborate with partners.Which of the following technologies is the company engaging in this scenario?

One argument in the debate surrounding globalization is about the inequality between nations.Discuss the major points of the inequality between nations argument and describe how falling barriers to trade and investment might help reduce the inequality between nations.

________ place limits on the quantity of a product being imported.

Cross-Cultural Business

Political Economy and Ethics

Economic Development of Nations

International Trade Theory

Political Economy of Trade

Foreign Direct Investment

Regional Economic Integration

International Financial Markets

International Monetary System

International Strategy and Organization

Analyzing International Opportunities

Selecting and Managing Entry Modes

Developing and Marketing Products

Managing International Operations

Hiring and Managing Employees

Filters