Question 1

The purpose of ______ is to make imports more expensive for domestic buyers.

Accepted Answer

A)  dumping 
B)  exchange controls 
C)  embargos 
D)  tariffs 
A)  dumping 
B)  exchange controls 
C)  embargos 
D)  tariffs B

Question 2

The International Monetary Fund (IMF) provides emergency loans to member nations which are NOT able to meet its expenses.

Accepted Answer

A) True 
 B)False  True

Question 3

Patents, trademarks, and intellectual property are important concerns in the ______ environment.

Accepted Answer

A)  economic 
B)  political 
C)  legal 
D)  cultural 
A)  economic 
B)  political 
C)  legal 
D)  cultural C

Question 4

What economic factors do firms evaluate when making decisions to operate in other countries?

Accepted Answer

Business decisions to operate abroad dep

Question 5

Complete the following using the terms listed below.
-______ monitors agreements among member nations, mediates disputes, and works to reduce trade barriers throughout the world.

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 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 strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)Comparative advantage

Question 6

Explain at least three nontariff barriers and their impact on international trade.

Accepted Answer

Nontariff barriers, also called administ

Question 7

One strategy for entering international market is by franchising.

Accepted Answer

A) True 
 B)False

Question 8

Maria is the Middle Eastern sales manager for a large company. She avoids giving pork products and wine to Arab customers as gifts. Maria is being sensitive to ______.

Accepted Answer

A)  religious differences 
B)  language differences 
C)  differences in consumer habits 
D)  differences in business practices 
A)  religious differences 
B)  language differences 
C)  differences in consumer habits 
D)  differences in business practices

Question 9

A country has a good chance of selling more of its goods abroad if it ______.

Accepted Answer

A)  increases the value of its currency 
B)  more tourists decide to travel abroad 
C)  devalues its currency 
D)  sets high tariffs on imported goods 
A)  increases the value of its currency 
B)  more tourists decide to travel abroad 
C)  devalues its currency 
D)  sets high tariffs on imported goods

Question 10

National governments sometimes take deliberate action to devalue their currencies as a way to increase exports and stimulate foreign investment.

Accepted Answer

A) True 
 B)False

Question 11

A favourable balance of trade is known as a trade surplus.

Accepted Answer

A) True 
 B)False

Question 12

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 13

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

Accepted Answer

A)  water supply 
B)  trademarks 
C)  taxes 
D)  patents 
A)  water supply 
B)  trademarks 
C)  taxes 
D)  patents

Question 14

The ______ promotes trade by providing financial assistance and waiving debt payments.

Accepted Answer

A)  United Nations 
B)  European Union 
C)  World Bank 
D)  International Monetary Fund 
A)  United Nations 
B)  European Union 
C)  World Bank 
D)  International Monetary Fund

Question 15

AusterTech, a German company, produces computer parts and sells them to South American countries. AusterTech is engaging in the international business activity known as ______.

Accepted Answer

A)  dumping 
B)  exporting 
C)  countertrade 
D)  importing 
A)  dumping 
B)  exporting 
C)  countertrade 
D)  importing

Question 16

Complete the following using the terms listed below.
-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 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 strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)Comparative advantage

Question 17

The sale by Toyota of its Camry model throughout the world is an example of a global business strategy.

Accepted Answer

A) True 
 B)False

Question 18

Tyra spent a two-week vacation in Italy and purchased more than $1,000 worth of Venetian glass. Upon returning to Canada, she was required to pay a ______ on the items.

Accepted Answer

A)  customs tax 
B)  protective tariff 
C)  revenue tariff 
D)  exchange rate tax 
A)  customs tax 
B)  protective tariff 
C)  revenue tariff 
D)  exchange rate tax

Question 19

Which of the following should a company evaluate when developing a framework for international operations?

Accepted Answer

A)  the company's objectives 
B)  the company's strengths and weaknesses 
C)  the company's strategies for product development and marketing 
D)  all of these should be evaluated 
A)  the company's objectives 
B)  the company's strengths and weaknesses 
C)  the company's strategies for product development and marketing 
D)  all of these should be evaluated

Question 20

Distinguish between absolute advantage and comparative advantage. Provide an example of each.

Accepted Answer

Absolute advantage is when a country mak

The purpose of ______ is to make imports more expensive for domestic buyers.

The International Monetary Fund (IMF) provides emergency loans to member nations which are NOT able to meet its expenses.

Patents, trademarks, and intellectual property are important concerns in the ______ environment.

What economic factors do firms evaluate when making decisions to operate in other countries?

Complete the following using the terms listed below. -______ monitors agreements among member nations, mediates disputes, and works to reduce trade barriers throughout the world.

Explain at least three nontariff barriers and their impact on international trade.

One strategy for entering international market is by franchising.

Maria is the Middle Eastern sales manager for a large company. She avoids giving pork products and wine to Arab customers as gifts. Maria is being sensitive to ______.

A country has a good chance of selling more of its goods abroad if it ______.

National governments sometimes take deliberate action to devalue their currencies as a way to increase exports and stimulate foreign investment.

A favourable balance of trade is known as a trade surplus.

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 ______.

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

The ______ promotes trade by providing financial assistance and waiving debt payments.

AusterTech, a German company, produces computer parts and sells them to South American countries. AusterTech is engaging in the international business activity known as ______.

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

The sale by Toyota of its Camry model throughout the world is an example of a global business strategy.

Tyra spent a two-week vacation in Italy and purchased more than $1,000 worth of Venetian glass. Upon returning to Canada, she was required to pay a ______ on the items.

Which of the following should a company evaluate when developing a framework for international operations?

Distinguish between absolute advantage and comparative advantage. Provide an example of each.

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 Labour 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

The purpose of ______ is to make imports more expensive for domestic buyers.

The International Monetary Fund (IMF) provides emergency loans to member nations which are NOT able to meet its expenses.

Patents, trademarks, and intellectual property are important concerns in the ______ environment.

What economic factors do firms evaluate when making decisions to operate in other countries?

Complete the following using the terms listed below. -______ monitors agreements among member nations, mediates disputes, and works to reduce trade barriers throughout the world.

Explain at least three nontariff barriers and their impact on international trade.

One strategy for entering international market is by franchising.

Maria is the Middle Eastern sales manager for a large company. She avoids giving pork products and wine to Arab customers as gifts. Maria is being sensitive to ______.

A country has a good chance of selling more of its goods abroad if it ______.

National governments sometimes take deliberate action to devalue their currencies as a way to increase exports and stimulate foreign investment.

A favourable balance of trade is known as a trade surplus.

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 ______.

International trade agreements outline the conduct expected by the partners when trading with each other. One resource that has no international regulation though is ______.

The ______ promotes trade by providing financial assistance and waiving debt payments.

AusterTech, a German company, produces computer parts and sells them to South American countries. AusterTech is engaging in the international business activity known as ______.

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

The sale by Toyota of its Camry model throughout the world is an example of a global business strategy.

Tyra spent a two-week vacation in Italy and purchased more than $1,000 worth of Venetian glass. Upon returning to Canada, she was required to pay a ______ on the items.

Which of the following should a company evaluate when developing a framework for international operations?

Distinguish between absolute advantage and comparative advantage. Provide an example of each.

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 Labour 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