Question 1

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets, they are using a _____.

Accepted Answer

A)  global business strategy 
B)  free trade strategy 
C)  uniform strategy 
D)  multidomestic strategy 
A)  global business strategy 
B)  free trade strategy 
C)  uniform strategy 
D)  multidomestic strategy

Question 2

Spanish is the most widely spoken language in the world.

Accepted Answer

A) True 
 B)False

Question 3

MATCHING
Complete the following using the terms listed.
-_____ are foreign-made products purchased by domestic consumers.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage 
A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 4

Which of the following is the first step in the decision for a business to expand globally?

Accepted Answer

A)  determining which foreign markets to enter 
B)  determining how much it will cost to enter a new market 
C)  deciding how to organize the overseas operations 
D)  applying for special export credits 
A)  determining which foreign markets to enter 
B)  determining how much it will cost to enter a new market 
C)  deciding how to organize the overseas operations 
D)  applying for special export credits

Question 5

In recent years, Canada's economy has been growing at a faster rate than the U.S.'s economy.

Accepted Answer

A) True 
 B)False

Question 6

A U.S. clothing manufacturer allows a foreign producer to use its designs and specifications to make clothes. This is an example of _____.

Accepted Answer

A)  countertrade 
B)  direct exporting 
C)  foreign licensing 
D)  subcontracting 
A)  countertrade 
B)  direct exporting 
C)  foreign licensing 
D)  subcontracting

Question 7

A Canadian software company that specializes in developing computer games enters into an agreement with a Japanese software company. Under this agreement, the Japanese firm has the right to manufacture and sell the Canadian firm's games in Japan. This agreement is an example of _____.

Accepted Answer

A)  countertrade 
B)  foreign licensing 
C)  international production 
D)  direct exporting 
A)  countertrade 
B)  foreign licensing 
C)  international production 
D)  direct exporting

Question 8

Dumping _____domestic consumers and _____domestic producers in an importing market.

Accepted Answer

A)  harms, benefits 
B)  harms, harms 
C)  benefits, harms 
D)  benefits, benefits 
A)  harms, benefits 
B)  harms, harms 
C)  benefits, harms 
D)  benefits, benefits

Question 9

MATCHING
Complete the following using the terms listed.
-A(n) _____ uses a standardized product and marketing strategy worldwide.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage 
A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 10

A major concern of labor unions regarding trade agreements is:

Accepted Answer

A)  loss of U.S. jobs 
B)  higher prices on imported goods 
C)  a decrease in U.S. exports 
D)  a decrease in U.S. imports 
A)  loss of U.S. jobs 
B)  higher prices on imported goods 
C)  a decrease in U.S. exports 
D)  a decrease in U.S. imports

Question 11

Western European countries that were a part of the European Union (EU) were at first hesitant towards inviting Eastern European countries to join.

Accepted Answer

A) True 
 B)False

Question 12

The most common first step for companies entering foreign markets is _________.

Accepted Answer

A)  Countertrade 
B)  foreign licensing 
C)  indirect exporting 
D)  direct exporting 
A)  Countertrade 
B)  foreign licensing 
C)  indirect exporting 
D)  direct exporting

Question 13

Assume a nation has a comparative advantage in the production of clothing. If the value of this country's currency rises, _____.

Accepted Answer

A)  its comparative advantage will decrease 
B)  its comparative advantage will stay the same 
C)  its comparative advantage will increase 
D)  an absolute advantage will be created 
A)  its comparative advantage will decrease 
B)  its comparative advantage will stay the same 
C)  its comparative advantage will increase 
D)  an absolute advantage will be created

Question 14

The International Monetary Fund (IMF) was created to promote trade through financial cooperation.

Accepted Answer

A) True 
 B)False

Question 15

MATCHING
Complete the following using the terms listed.
-Countries establish a(n) ______where they can trade among themselves without trade barriers.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage 
A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 16

MATCHING
Complete the following using the terms listed.
-A(n) _____ allows a company to share risks, costs, profits, and management responsibilities with another company.

Accepted Answer

A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage 
A) offshoring 
B) balance of trade 
C) joint venture 
D) Dumping 
E) Imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)Devaluation
K)exchange rate
L)absolute advantage
M)global business strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question 17

All of the following are included in the top five nations the United States trades with EXCEPT _____.

Accepted Answer

A)  China 
B)  Spain 
C)  Mexico 
D)  Canada 
A)  China 
B)  Spain 
C)  Mexico 
D)  Canada

Question 18

Less-developed countries represent a lucrative market for U.S. firms because of their huge population.

Accepted Answer

A) True 
 B)False

Question 19

If an imported product sells for more in the United States than it does in the producing country, the producing country could be accused of dumping.

Accepted Answer

A) True 
 B)False

Question 20

Describe three contractual agreements firms can enter into when going global.

Accepted Answer

The three contractual agreements are fra

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets, they are using a _____.

Spanish is the most widely spoken language in the world.

MATCHING Complete the following using the terms listed. -_____ are foreign-made products purchased by domestic consumers.

Which of the following is the first step in the decision for a business to expand globally?

In recent years, Canada's economy has been growing at a faster rate than the U.S.'s economy.

A U.S. clothing manufacturer allows a foreign producer to use its designs and specifications to make clothes. This is an example of _____.

A Canadian software company that specializes in developing computer games enters into an agreement with a Japanese software company. Under this agreement, the Japanese firm has the right to manufacture and sell the Canadian firm's games in Japan. This agreement is an example of _____.

Dumping _domestic consumers and _domestic producers in an importing market.

MATCHING Complete the following using the terms listed. -A(n) _____ uses a standardized product and marketing strategy worldwide.

A major concern of labor unions regarding trade agreements is:

Western European countries that were a part of the European Union (EU) were at first hesitant towards inviting Eastern European countries to join.

The most common first step for companies entering foreign markets is _________.

Assume a nation has a comparative advantage in the production of clothing. If the value of this country's currency rises, _____.

The International Monetary Fund (IMF) was created to promote trade through financial cooperation.

MATCHING Complete the following using the terms listed. -Countries establish a(n) ______where they can trade among themselves without trade barriers.

MATCHING Complete the following using the terms listed. -A(n) _____ allows a company to share risks, costs, profits, and management responsibilities with another company.

All of the following are included in the top five nations the United States trades with EXCEPT _____.

Less-developed countries represent a lucrative market for U.S. firms because of their huge population.

If an imported product sells for more in the United States than it does in the producing country, the producing country could be accused of dumping.

Describe three contractual agreements firms can enter into when going global.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 4: Competing in World Markets

When firms develop products and marketing strategies that appeal to the customer tastes and buying habits of particular national markets, they are using a _____.

Spanish is the most widely spoken language in the world.

MATCHING Complete the following using the terms listed. -_____ are foreign-made products purchased by domestic consumers.

Which of the following is the first step in the decision for a business to expand globally?

In recent years, Canada's economy has been growing at a faster rate than the U.S.'s economy.

A U.S. clothing manufacturer allows a foreign producer to use its designs and specifications to make clothes. This is an example of _____.

A Canadian software company that specializes in developing computer games enters into an agreement with a Japanese software company. Under this agreement, the Japanese firm has the right to manufacture and sell the Canadian firm's games in Japan. This agreement is an example of _____.

Dumping _____domestic consumers and _____domestic producers in an importing market.

MATCHING Complete the following using the terms listed. -A(n) _____ uses a standardized product and marketing strategy worldwide.

A major concern of labor unions regarding trade agreements is:

Western European countries that were a part of the European Union (EU) were at first hesitant towards inviting Eastern European countries to join.

The most common first step for companies entering foreign markets is _________.

Assume a nation has a comparative advantage in the production of clothing. If the value of this country's currency rises, _____.

The International Monetary Fund (IMF) was created to promote trade through financial cooperation.

MATCHING Complete the following using the terms listed. -Countries establish a(n) ______where they can trade among themselves without trade barriers.

MATCHING Complete the following using the terms listed. -A(n) _____ allows a company to share risks, costs, profits, and management responsibilities with another company.

All of the following are included in the top five nations the United States trades with EXCEPT _____.

Less-developed countries represent a lucrative market for U.S. firms because of their huge population.

If an imported product sells for more in the United States than it does in the producing country, the producing country could be accused of dumping.

Describe three contractual agreements firms can enter into when going global.

The Changing Face of Business

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Dumping _domestic consumers and _domestic producers in an importing market.