Exam 3: Competing in Global Markets

Maureen,a Canadian resident,was surprised to see that her home computer was actually made in Japan.Maureen did not know she had purchased a(n):

Most governments prohibit their citizens from participating in joint ventures.

Which of the following strategies for competing in the global markets involves the lowest risk and offers the lowest profit potential?

The value of goods imported into France exceeds the value of French exports.This indicates that France:

Export trading companies assist businesses in getting paid for export transactions.

Canada,as of 2009,enjoys a trade surplus in the global market.

A favourable balance of trade occurs when the value of a country's imports exceeds the value of its exports.

An import quota is a complete ban on the import or export of certain products.

The two basic types of tariffs are:

A country has an absolute advantage if it has a monopoly in the production of a specific product or is able to produce it more efficiently than all other nations.

While China presents an important source of Canadian imports,few export opportunities exist for Canadian firms to sell goods and services to Asian consumers.

Last year,the nation of Kwansai reported that it had a favourable balance of trade even though it imported $11 billion worth of goods.This indicates that Kwansai:

Many countries use ________________ policies as a way to protect their domestic industries from unfair foreign competition.

The fee paid to a firm in a licensing agreement that gives another firm the right to manufacture their product or use its trademark is called:

A major concern voiced by Canadian critics of the North American Free Trade Agreement (NAFTA)is that it would result in:

Which theory states that a nation should produce and sell goods to other countries that it produces most efficiently,and buy goods produced more efficiently by other countries?

All of the following are objectives of the North American Free Trade Agreement (NAFTA)except:

The European Union is an example of a common market.

The complete ban on the sale of ivory in Canada is an example of an import quota.

A Mexican firm has agreed to trade petroleum to an American importer in return for Canadian made computers.This arrangement is an example of: