Exam 14: Export and Import

Countertrade refers to any one of several different arrangements that parties negotiate so that they can trade goods and services with limited or no use of currency.

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?

Ultimately,countertrade is an inefficient way of doing business because it ________.

What is typically the most difficult aspect of an export plan for SMEs?

Why is countertrade considered inefficient?

An Australian company makes athletic wear for women,men,and adults.After several years of successfully exporting its products to the U.K.and the U.S.,the company began exporting to Japan.This is an example of ________.

Which of the following types of agents moves international cargo,facilitates shipment tracking,and handles product returns for exporters and importers?

Procter & Gamble exchanges cleaning products for machinery with Russia and Hungary.The nature of this transaction indicates that Procter & Gamble is engaging in ________.

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

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.

Boyce Dynamics,a U.S.maker of LED flashlights,fills unsolicited orders from foreign buyers.It has not proactively investigated international trade options.Boyce Dynamics is best categorized as a(n)________.

What is the difference between exporting and importing? What are the unique characteristics of service exports and service imports?

Export intensity,the percentage of total revenues coming from exports,is not always correlated with company size.

Vantex Fabrics is a U.S.firm that designs,manufactures,and sells high-quality fabrics used for home decor.Executives at the firm believe that Vantex could significantly increase its profitability by exporting fabrics to foreign markets.The vice president of marketing is in favor of exporting to England,while the vice president of finance asserts that the firm would benefit most from exporting to China.Which of the following,if true,best supports the vice president of marketing's suggestion?

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

The incremental internationalization view of exporting holds that companies first target countries that are ________ their home market.

Which of the following is NOT an example of a service export?

Indirect exporters sell goods to a foreign intermediary,who then sells the product in the domestic market to the final consumer.

What difficulties of exporting can be minimized by customs brokers?

Advocates of exporting e-waste assert that the activity helps entrepreneurs in developing countries create value by recovering and recycling scarce resources such as copper.