Question 1

Weigh the risks and benefits of entering the international market with those of entering or doing business in the domestic market.

Accepted Answer

Weighing the risks and benefits of enter

Question 2

In Gaskin v.Stumm Handel GmbH,the District Court ruled:

Accepted Answer

A)  that employment contracts must be in writing. 
B)  that the plaintiff was excused from performing a contract written in German because he understood only English. 
C)  that the contract was unconscionable because it was written in a language foreign to the plaintiff. 
D)  that the plaintiff's signing of a jural document makes the signatory conclusively bound. 
A)  that employment contracts must be in writing. 
B)  that the plaintiff was excused from performing a contract written in German because he understood only English. 
C)  that the contract was unconscionable because it was written in a language foreign to the plaintiff. 
D)  that the plaintiff's signing of a jural document makes the signatory conclusively bound.

Question 3

Tariffs on imported products are imposed for which of the following reasons?

Accepted Answer

A)  Collection of revenue 
B)  Protection of domestic industries 
C)  To assert political objectives 
D)  All of the these are correct 
A)  Collection of revenue 
B)  Protection of domestic industries 
C)  To assert political objectives 
D)  All of the these are correct

Question 4

Design a business plan for doing business in the Middle East,addressing religious and cultural differences.

Accepted Answer

When creating a business plan for doing

Question 5

Which of the following does not generally characterize foreign distributors?

Accepted Answer

A)  They are independent firms. 
B)  They are usually located in the country from which the goods are exported. 
C)  They assume the risks of warehousing the goods. 
D)  The often trail end users of the product. 
A)  They are independent firms. 
B)  They are usually located in the country from which the goods are exported. 
C)  They assume the risks of warehousing the goods. 
D)  The often trail end users of the product.

Question 6

Compare and contrast the three basic forms of international business or market entry strategies.

Accepted Answer

The three basic forms of international b

Question 7

The concept of local participation refers to:

Accepted Answer

A)  a portion of the employees of the business in the host country will be nationals of the home country. 
B)  employees of the business contribute a certain number of hours to community service. 
C)  a portion of the business must be owned by nationals of the host country. 
D)  the host country retains mineral rights. 
A)  a portion of the employees of the business in the host country will be nationals of the home country. 
B)  employees of the business contribute a certain number of hours to community service. 
C)  a portion of the business must be owned by nationals of the host country. 
D)  the host country retains mineral rights.

Question 8

Indirect exporting but not direct exporting involves sales through sales agents or to foreign distributors.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is NOT an example of the transfer of technology?

Accepted Answer

A)  Medical researchers at a university providing research data to a pharmaceutical company as part of an effort to find a cure for cancer. 
B)  A computer programmer sharing her source code with the public via the Internet. 
C)  A website designer downloading a copy of a photograph for use on a website, without the photographer's knowledge or permission. 
D)  A franchisor teaching a new franchise owner how to set up and run his franchise, using the franchisor's methods and materials. 
A)  Medical researchers at a university providing research data to a pharmaceutical company as part of an effort to find a cure for cancer. 
B)  A computer programmer sharing her source code with the public via the Internet. 
C)  A website designer downloading a copy of a photograph for use on a website, without the photographer's knowledge or permission. 
D)  A franchisor teaching a new franchise owner how to set up and run his franchise, using the franchisor's methods and materials.

Question 10

Freight forwarders are regulated by the Department of State and arrange the transportation of goods for the importer and represent the importer with customs.

Accepted Answer

A) True 
 B)False

Question 11

Freight forwarders act as the seller's or exporter's agent.

Accepted Answer

A) True 
 B)False

Question 12

A sovereign nation has the power to nationalize a foreign private enterprise without compensation.

Accepted Answer

A) True 
 B)False

Question 13

In what ways is doing business in the developing nations of Eastern Europe both similar and different from doing business in the United States? Western Europe?

Accepted Answer

Doing business in the developing nations

Question 14

Choose a product and a country to which you wish to export that product.Prepare an export plan,identifying in particular the factors that would need to be addressed in order to ensure a successful venture.

Accepted Answer

I choose to export organic skincare prod

Question 15

Which of the following does not accurately characterize export management companies?

Accepted Answer

A)  They act as advisors or consultants. 
B)  They engage in foreign market research. 
C)  They exhibit goods at foreign trade shows. 
D)  They use their extensive sales contracts to market the products of other companies. 
A)  They act as advisors or consultants. 
B)  They engage in foreign market research. 
C)  They exhibit goods at foreign trade shows. 
D)  They use their extensive sales contracts to market the products of other companies.

Question 16

Which of the following is not a characteristic of multinational corporations?

Accepted Answer

A)  The United States is usually their home nation. 
B)  They derive capital resources worldwide. 
C)  They operate facilities of production in more than one country. 
D)  They move production, technology, and capital to those countries with the most hospitable environment. 
A)  The United States is usually their home nation. 
B)  They derive capital resources worldwide. 
C)  They operate facilities of production in more than one country. 
D)  They move production, technology, and capital to those countries with the most hospitable environment.

Question 17

Non-tariff barriers,such as technical standards,do not have a significant influence on how firms make their trade and investment decisions.

Accepted Answer

A) True 
 B)False

Question 18

Customs brokers are government inspection officials who have the responsibilities of inspecting and regulating the shipment of goods and services imported into the United States.

Accepted Answer

A) True 
 B)False

Question 19

A home country refers to the country under whose laws the investing corporation was created or is incorporated.

Accepted Answer

A) True 
 B)False

Question 20

Firms that assist indirect exporters and are licensed to operate under the antitrust laws of the U.S.are:

Accepted Answer

A)  export management companies. 
B)  indirect exporter merchants. 
C)  export trading companies. 
D)  none of the above. 
A)  export management companies. 
B)  indirect exporter merchants. 
C)  export trading companies. 
D)  none of the above.

Exam 1: Introduction to International Business

Weigh the risks and benefits of entering the international market with those of entering or doing business in the domestic market.

In Gaskin v.Stumm Handel GmbH,the District Court ruled:

Tariffs on imported products are imposed for which of the following reasons?

Design a business plan for doing business in the Middle East,addressing religious and cultural differences.

Which of the following does not generally characterize foreign distributors?

Compare and contrast the three basic forms of international business or market entry strategies.

The concept of local participation refers to:

Indirect exporting but not direct exporting involves sales through sales agents or to foreign distributors.

Which of the following is NOT an example of the transfer of technology?

Freight forwarders are regulated by the Department of State and arrange the transportation of goods for the importer and represent the importer with customs.

Freight forwarders act as the seller's or exporter's agent.

A sovereign nation has the power to nationalize a foreign private enterprise without compensation.

In what ways is doing business in the developing nations of Eastern Europe both similar and different from doing business in the United States? Western Europe?

Choose a product and a country to which you wish to export that product.Prepare an export plan,identifying in particular the factors that would need to be addressed in order to ensure a successful venture.

Which of the following does not accurately characterize export management companies?

Which of the following is not a characteristic of multinational corporations?

Non-tariff barriers,such as technical standards,do not have a significant influence on how firms make their trade and investment decisions.

Customs brokers are government inspection officials who have the responsibilities of inspecting and regulating the shipment of goods and services imported into the United States.

A home country refers to the country under whose laws the investing corporation was created or is incorporated.

Firms that assist indirect exporters and are licensed to operate under the antitrust laws of the U.S.are:

International Law and the World's Legal Systems

Resolving International Commercial Disputes

The Formation and Performance of Contracts for the Sale of Goods

The Documentary Sale and Terms of Trade

Legal Issues in International Transportation

Bank Collections and Letters of Credit

National Lawmaking Powers and the Regulation of U.S.Trade

The World Trade Organization: Basic Legal Principles

Laws Governing Access to Foreign Markets

Regulating Import Competition and Unfair Trade

Imports,Customs,and Tariff Law

Export Controls and Sanctions

North American Free Trade Law

The European Union

Marketing: Representatives,Advertising,and Anti-Corruption

Protection and Licensing of Intellectual Property

The Legal Environment of Foreign Direct Investment

Labor and Employment Discrimination Law

Environmental Law

Regulating the Competitive Environment

Filters