Exam 9: Business in a Global Environment

Although regional trade agreements exist around the world,we still don't have a solid answer to the question of whether they're moving the world closer to free trade on a global scale.

When it sets controls to protect domestic industries by reducing foreign competition,the federal government is _____.

In a _____ culture,the numerous interlocking personal and family connections that hold people together have an effect on almost all interactions.

According to the concept of opportunity cost,a country that decides to specialize in the production of a particular product may sacrifice the production of another.

With a troubled economy and the prospect of devastating economic times ahead,the Central European country of Westphalia should look to _____ for a major loan.

In many countries,American firms may be at a disadvantage in communicating with the general public because only ____ speak English.

McDonald's,Burger King,Pizza Hut,and KFC restaurants,all of which operate in many different countries,are best characterized as _____ corporations.

Many people support increased MNC activities because infant mortality rates have decreased,literacy has improved,and the standard of living has risen in many countries where multinationals operate.

In high-context cultures,business-people don't need to know much about the personal life of a person in order to deal with him or her in a business setting.

Entrée Specialités,which produces food products and ships them to several independent buyers throughout Western Europe,is in the _____ business.

Most experts believe that trade controls,such as tariffs,quotas,and subsidies,are beneficial to the world economy.

Having set up factories,sales offices,and branch stores in several foreign nations,U.S. based Crenco has gone global through a form of expansion called a "joint venture."

To offset the dumping of goods on its soil,a country will usually _____.

A strategic alliance is a working partnership between companies in different countries who pool resources to achieve goals and benefits for both firms.

Generally speaking,nations don't exploit production and trade advantages because they prefer to protect their international images.

The largest factors in a country's balance of payments consist of revenues from tourism and welfare benefits paid to citizens and immigrants.

Cajun Chicken, a growing franchise chain based in Lafayette, Louisiana, has expanded to 185 locations in the United States. Because they realize that domestic growth is limited, the owners are contemplating expansion to selected foreign countries. Thus far, research has shown that the rights to use many of the firm’s recipes can be sold to other restaurants, cafeterias, and food stores. Cajun can also sell prepackaged food products, complete with spices, to other markets. At this point, whether to start by opening company-owned outlets or selling franchises is still a toss up. In any case, the long-term picture looks good. -RJR Nabisco (a U.S.company)allows a company in Singapore to use its brand name and recipe to produce and sell one of its products- Planters Nuts.In return RJR Nabisco receives a royalty fee.This type of international arrangement is called _______

When Whitlock Clothiers began overseas operations,top management had to learn to appreciate the _____ environments of other countries-that is,other people's systems of shared beliefs,values,customs,and behaviors.

An absolute quota (as opposed to a quota)puts an upper limit on the quantity of a good that can be imported during a given period of time.

The West European buyers who purchase and resell Entrée Specialités' food products in their home countries are in the _____ business.