Question 1

The six countries in the Gulf Cooperation Council (GCC)hold about 45% of the world's known oil reserves,but production is only about 18% of world oil output.

Accepted Answer

A) True 
 B)False

Question 2

A preferential trade agreement is a mechanism that confirms special treatment on select trading partners,thereby at times discriminating against other trading partners.

Accepted Answer

A) True 
 B)False

Question 3

The "Common Market of the South" in Latin America is used to describe:

Accepted Answer

A) SICA. 
B) Mercosur. 
C) Andean Community. 
D) CARICOM. 
E) FTAA. 
A) SICA. 
B) Mercosur. 
C) Andean Community. 
D) CARICOM. 
E) FTAA.

Question 4

The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:

Accepted Answer

A) Russia. 
B) China. 
C) the United States. 
D) the United Kingdom. 
E) Australia. 
A) Russia. 
B) China. 
C) the United States. 
D) the United Kingdom. 
E) Australia.

Question 5

Arrange the following in order from lowest to highest level of economic integration.

Accepted Answer

A) customs union→economic union→free trade area→common market 
B) economic union→customs union→common market→free trade area 
C) common market→free trade area→economic union→customs union 
D) free trade area→customs union→common market→economic union 
E) common market→economic union→customs union→free trade area 
A) customs union→economic union→free trade area→common market 
B) economic union→customs union→common market→free trade area 
C) common market→free trade area→economic union→customs union 
D) free trade area→customs union→common market→economic union 
E) common market→economic union→customs union→free trade area

Question 6

The form of economic cooperation that calls for 1)eliminating internal barriers to trade and 2)establishing common external barriers is known as a(n):

Accepted Answer

A) European Union. 
B) Economic union. 
C) Customs union. 
D) Free trade area. 
E) Common market. 
A) European Union. 
B) Economic union. 
C) Customs union. 
D) Free trade area. 
E) Common market.

Question 7

The World Trade Organization,which came into existence on January 1,1995,is the successor of another organization with the abbreviation:

Accepted Answer

A) DSB. 
B) GATT. 
C) FTAA. 
D) NAFTA. 
E) ASEAN. 
A) DSB. 
B) GATT. 
C) FTAA. 
D) NAFTA. 
E) ASEAN.

Question 8

The Vatican City uses the euro although it is not a part of the European Union.

Accepted Answer

A) True 
 B)False

Question 9

________ builds upon the elimination of internal tariff barriers,the establishment of common external barriers,and the free flow of factors.

Accepted Answer

A) European Union 
B) Economic union 
C) Customs union 
D) Free trade area 
E) Common market 
A) European Union 
B) Economic union 
C) Customs union 
D) Free trade area 
E) Common market

Question 10

The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:

Accepted Answer

A) their location being close to the sea. 
B) the cultural similarities. 
C) wage rates being lower than in Spain,Portugal and Greece. 
D) strict laws and regulations. 
E) prohibitive tariffs and export restrictions. 
A) their location being close to the sea. 
B) the cultural similarities. 
C) wage rates being lower than in Spain,Portugal and Greece. 
D) strict laws and regulations. 
E) prohibitive tariffs and export restrictions.

Question 11

The most important preferential trading arrangements in Latin America do not include:

Accepted Answer

A) SICA. 
B) the Andean Community. 
C) CARICOM. 
D) Mercosur. 
E) BRIC. 
A) SICA. 
B) the Andean Community. 
C) CARICOM. 
D) Mercosur. 
E) BRIC.

Question 12

Coca-Cola had to delay launching its Powerade sports drink in Europe due to the lack of uniform food safety laws in the European Union.

Accepted Answer

A) True 
 B)False

Question 13

Bhutan has relied on a measure besides economic growth referred to as the Gross National Happiness (GNH).

Accepted Answer

A) True 
 B)False

Question 14

The Middle East and North Africa are sometimes viewed as a regional entity known as "Mena."

Accepted Answer

A) True 
 B)False

Question 15

With the global economic crisis as a backdrop,the first-ever Happiness Congress was held in:

Accepted Answer

A) Sweden. 
B) Austria. 
C) Spain. 
D) Italy. 
E) Greece. 
A) Sweden. 
B) Austria. 
C) Spain. 
D) Italy. 
E) Greece.

Question 16

African companies will find it easier to gain access to financing from the U.S.Export-Import Bank due to:

Accepted Answer

A) AGOA. 
B) GATT. 
C) SADC. 
D) TDCA. 
E) SACU. 
A) AGOA. 
B) GATT. 
C) SADC. 
D) TDCA. 
E) SACU.

Question 17

According to experts,mastering the Japanese market is considered to be a very difficult task.However,with the lucrative market in Japan,it is imperative to understand the intricacies in order to be successful in business.What are some of the factors that need to be considered by corporations that would like to conduct business in Japan?

Accepted Answer

Conducting business in the Japanese mark

Question 18

A free trade area represents the most fully developed form of preferential trade agreement among nations.

Accepted Answer

A) True 
 B)False

Question 19

In addition to eliminating internal barriers to trade,members of a customs union agree to the establishment of common external tariffs.

Accepted Answer

A) True 
 B)False

Question 20

The original six members of the ASEAN (Association of Southeast Asian Nations)included all of the following countries except:

Accepted Answer

A) Singapore. 
B) Thailand. 
C) India. 
D) Philippines. 
E) Brunei. 
A) Singapore. 
B) Thailand. 
C) India. 
D) Philippines. 
E) Brunei.

The six countries in the Gulf Cooperation Council (GCC)hold about 45% of the world's known oil reserves,but production is only about 18% of world oil output.

A preferential trade agreement is a mechanism that confirms special treatment on select trading partners,thereby at times discriminating against other trading partners.

The "Common Market of the South" in Latin America is used to describe:

The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:

Arrange the following in order from lowest to highest level of economic integration.

The form of economic cooperation that calls for 1)eliminating internal barriers to trade and 2)establishing common external barriers is known as a(n):

The World Trade Organization,which came into existence on January 1,1995,is the successor of another organization with the abbreviation:

The Vatican City uses the euro although it is not a part of the European Union.

________ builds upon the elimination of internal tariff barriers,the establishment of common external barriers,and the free flow of factors.

The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:

The most important preferential trading arrangements in Latin America do not include:

Coca-Cola had to delay launching its Powerade sports drink in Europe due to the lack of uniform food safety laws in the European Union.

Bhutan has relied on a measure besides economic growth referred to as the Gross National Happiness (GNH).

The Middle East and North Africa are sometimes viewed as a regional entity known as "Mena."

With the global economic crisis as a backdrop,the first-ever Happiness Congress was held in:

African companies will find it easier to gain access to financing from the U.S.Export-Import Bank due to:

A free trade area represents the most fully developed form of preferential trade agreement among nations.

In addition to eliminating internal barriers to trade,members of a customs union agree to the establishment of common external tariffs.

The original six members of the ASEAN (Association of Southeast Asian Nations)included all of the following countries except:

Introduction to Global Marketing

The Global Economic Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Importing,exporting,and Sourcing

Global Market Entry Strategies: Licensing,investment,and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, organization, and Corporate Social Responsibility

Filters

Exam 3: The Global Trade Environment

The six countries in the Gulf Cooperation Council (GCC)hold about 45% of the world's known oil reserves,but production is only about 18% of world oil output.

A preferential trade agreement is a mechanism that confirms special treatment on select trading partners,thereby at times discriminating against other trading partners.

The "Common Market of the South" in Latin America is used to describe:

The English-speaking CARICOM members in the eastern Caribbean are concerned with defending their privileged trading position with:

Arrange the following in order from lowest to highest level of economic integration.

The form of economic cooperation that calls for 1)eliminating internal barriers to trade and 2)establishing common external barriers is known as a(n):

The World Trade Organization,which came into existence on January 1,1995,is the successor of another organization with the abbreviation:

The Vatican City uses the euro although it is not a part of the European Union.

________ builds upon the elimination of internal tariff barriers,the establishment of common external barriers,and the free flow of factors.

The markets of Central and Eastern Europe present interesting opportunities and offer attractive locations for low-cost manufacturing due to:

The most important preferential trading arrangements in Latin America do not include:

Coca-Cola had to delay launching its Powerade sports drink in Europe due to the lack of uniform food safety laws in the European Union.

Bhutan has relied on a measure besides economic growth referred to as the Gross National Happiness (GNH).

The Middle East and North Africa are sometimes viewed as a regional entity known as "Mena."

With the global economic crisis as a backdrop,the first-ever Happiness Congress was held in:

African companies will find it easier to gain access to financing from the U.S.Export-Import Bank due to:

A free trade area represents the most fully developed form of preferential trade agreement among nations.

In addition to eliminating internal barriers to trade,members of a customs union agree to the establishment of common external tariffs.

The original six members of the ASEAN (Association of Southeast Asian Nations)included all of the following countries except:

Introduction to Global Marketing

The Global Economic Environment

Social and Cultural Environments

The Political,legal,and Regulatory Environments

Global Information Systems and Market Research

Segmentation,targeting,and Positioning

Importing,exporting,and Sourcing

Global Market Entry Strategies: Licensing,investment,and Strategic Alliances

Brand and Product Decisions in Global Marketing

Pricing Decisions

Global Marketing Channels and Physical Distribution

Global Marketing Communications Decisions I: Advertising and Public Relations

Global Marketing Communications Decisions Ii: Sales Promotion, personal Selling, and Special Forms of Marketing Communication

Global Marketing and the Digital Revolution

Strategic Elements of Competitive Advantage

Leadership, organization, and Corporate Social Responsibility

Filters