Question 1

With regard to the BRICS nations,it is correct to say that

Accepted Answer

A) they all emphasize the export of raw materials. 
B) they all have a low level of industrialization at the moment but are progressing rapidly. 
C) Russia is the strongest in terms of manufacturing. 
D) Brazil is strong in agriculture and commodities. 
E) All of these statements are correct. 
A) they all emphasize the export of raw materials. 
B) they all have a low level of industrialization at the moment but are progressing rapidly. 
C) Russia is the strongest in terms of manufacturing. 
D) Brazil is strong in agriculture and commodities. 
E) All of these statements are correct. D

Question 2

Levi Strauss has an organization in a foreign country that has agreed to sell their products,to collect payments from the buyers,and to make sure that the buyers are satisfied.The organization is not part of Levi Strauss and may represent several non-competing firms at the same time.The organizational structure that Levi Strauss has selected is called a(n)

Accepted Answer

A) strategic alliance. 
B) independent agent. 
C) branch office. 
D) licensing agreement. 
E) direct investment. 
A) strategic alliance. 
B) independent agent. 
C) branch office. 
D) licensing agreement. 
E) direct investment. B

Question 3

Licensing arrangements are arrangements

Accepted Answer

A) by a creator of a musical or artistic work to allow another person to use,produce,distribute,or market it for a fee or royalty. 
B) by a supplier to allow another company the right to install or modify products produced by the supplier for a fee or royalty. 
C) by a general contractor to allow international subcontractors to build a building for a fee or royalty. 
D) by an owner of a process or product to allow another business to produce,distribute,or market it for a fee or royalty. 
E) by an owner of a patent to allow another business to produce,distribute,or market the product covered by the patent for a fee or royalty. 
A) by a creator of a musical or artistic work to allow another person to use,produce,distribute,or market it for a fee or royalty. 
B) by a supplier to allow another company the right to install or modify products produced by the supplier for a fee or royalty. 
C) by a general contractor to allow international subcontractors to build a building for a fee or royalty. 
D) by an owner of a process or product to allow another business to produce,distribute,or market it for a fee or royalty. 
E) by an owner of a patent to allow another business to produce,distribute,or market the product covered by the patent for a fee or royalty. D

Question 4

What is a product made or grown abroad but sold domestically called?

Accepted Answer

A) International merchandise 
B) Import 
C) Ethnic brand 
D) Global commodity 
E) Export 
A) International merchandise 
B) Import 
C) Ethnic brand 
D) Global commodity 
E) Export

Question 5

Why might a company decide not to conduct business internationally?

Accepted Answer

A company may decide not to "go internat

Question 6

The rate of exchange of a nation's currency has a noticeable effect upon the competitive advantages or disadvantages of its companies.

Accepted Answer

A) True 
 B)False

Question 7

Farmer Sal grows strawberries.The berries are shipped to a local manufacturing plant where they are made into jam,labeled "Country Recipe Strawberry Jam," and boxed for shipment overseas.This product of Ontario is also referred to as a(n)

Accepted Answer

A) export. 
B) import. 
C) trade product. 
D) absolute product. 
E) competitive advantage. 
A) export. 
B) import. 
C) trade product. 
D) absolute product. 
E) competitive advantage.

Question 8

In some countries,it may be legal to bribe businesses and government officials,but this practice is illegal in Canada.This barrier to international trade is known as

Accepted Answer

A) imposing tariffs. 
B) quotas. 
C) local content laws. 
D) business practice laws. 
E) cartelling. 
A) imposing tariffs. 
B) quotas. 
C) local content laws. 
D) business practice laws. 
E) cartelling.

Question 9

If Trinidad could produce cheaper and better tasting mangos than any other country due to its climate,then it would have an absolute advantage over any other country.

Accepted Answer

A) True 
 B)False

Question 10

The most fundamental goal of the WTO is to open world markets to international trade.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following is correct regarding the levels of foreign involvement a business can exhibit?

Accepted Answer

A) Importing and exporting represent the highest level of involvement in international operations. 
B) Exporters and importers tend to conduct most of their business in foreign markets. 
C) Only large companies are exporters. 
D) An international firm conducts a significant portion of its business abroad,and it usually manufactures most of its products in foreign countries. 
E) For multinational firms,the location of its head office is largely irrelevant. 
A) Importing and exporting represent the highest level of involvement in international operations. 
B) Exporters and importers tend to conduct most of their business in foreign markets. 
C) Only large companies are exporters. 
D) An international firm conducts a significant portion of its business abroad,and it usually manufactures most of its products in foreign countries. 
E) For multinational firms,the location of its head office is largely irrelevant.

Question 12

International trade is important for manufactured goods,but not for services.

Accepted Answer

A) True 
 B)False

Question 13

What actions can a government take to discourage trade?

Accepted Answer

A government may impose a quota (a restr

Question 14

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

Accepted Answer

A) Demand for goods would be unaffected by currency changes. 
B) Japanese products would become cheaper in Canada. 
C) It would take fewer dollars to buy the same number of yen. 
D) Canadian products would become less expensive in Japan. 
E) Japanese demand for goods from Canada would fall. 
A) Demand for goods would be unaffected by currency changes. 
B) Japanese products would become cheaper in Canada. 
C) It would take fewer dollars to buy the same number of yen. 
D) Canadian products would become less expensive in Japan. 
E) Japanese demand for goods from Canada would fall.

Question 15

Laura's Lights began shipping products to its new partner in a foreign nation only to find out that before the products would be let into the country a tax of $1.00 per unit had to be paid.This tax is known as a(n)

Accepted Answer

A) subsidy. 
B) local content law. 
C) quota. 
D) embargo. 
E) tariff. 
A) subsidy. 
B) local content law. 
C) quota. 
D) embargo. 
E) tariff.

Question 16

What are local-content laws? What do they usually imply?

Accepted Answer

Local-content laws require that products

Question 17

What is a government payment to help domestic business compete with foreign firms called?

Accepted Answer

A) Grant 
B) Incentive 
C) Subsidy 
D) Assistance 
E) Aid 
A) Grant 
B) Incentive 
C) Subsidy 
D) Assistance 
E) Aid

Question 18

Can-Eng Manufacturing,Canada's largest supplier of industrial furnaces,exports its furnaces to companies in Japan,Brazil,Germany,Korea,Taiwan,and Mexico.Can-Eng has an agreement with foreign companies in these countries called a(n)

Accepted Answer

A) international mandate. 
B) licensing arrangement. 
C) independent agency. 
D) export agreement. 
E) strategic alliance. 
A) international mandate. 
B) licensing arrangement. 
C) independent agency. 
D) export agreement. 
E) strategic alliance.

Question 19

When Bob began exporting his famous barbecue beef,he found that one country would let him bring only 1000 pounds of beef into the country each year.Bob had just discovered a(n)

Accepted Answer

A) embargo. 
B) local content law. 
C) quota. 
D) tariff. 
E) subsidy. 
A) embargo. 
B) local content law. 
C) quota. 
D) tariff. 
E) subsidy.

Question 20

Sometimes foreign companies have many problems in complying with stringent and often changing regulations and bureaucratic obstacles known as

Accepted Answer

A) business practice laws. 
B) cartels. 
C) dumping. 
D) local content laws. 
E) local practices. 
A) business practice laws. 
B) cartels. 
C) dumping. 
D) local content laws. 
E) local practices.

With regard to the BRICS nations,it is correct to say that

Licensing arrangements are arrangements

What is a product made or grown abroad but sold domestically called?

Why might a company decide not to conduct business internationally?

The rate of exchange of a nation's currency has a noticeable effect upon the competitive advantages or disadvantages of its companies.

Farmer Sal grows strawberries.The berries are shipped to a local manufacturing plant where they are made into jam,labeled "Country Recipe Strawberry Jam," and boxed for shipment overseas.This product of Ontario is also referred to as a(n)

In some countries,it may be legal to bribe businesses and government officials,but this practice is illegal in Canada.This barrier to international trade is known as

If Trinidad could produce cheaper and better tasting mangos than any other country due to its climate,then it would have an absolute advantage over any other country.

The most fundamental goal of the WTO is to open world markets to international trade.

Which of the following is correct regarding the levels of foreign involvement a business can exhibit?

International trade is important for manufactured goods,but not for services.

What actions can a government take to discourage trade?

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

Laura's Lights began shipping products to its new partner in a foreign nation only to find out that before the products would be let into the country a tax of $1.00 per unit had to be paid.This tax is known as a(n)

What are local-content laws? What do they usually imply?

What is a government payment to help domestic business compete with foreign firms called?

Can-Eng Manufacturing,Canada's largest supplier of industrial furnaces,exports its furnaces to companies in Japan,Brazil,Germany,Korea,Taiwan,and Mexico.Can-Eng has an agreement with foreign companies in these countries called a(n)

When Bob began exporting his famous barbecue beef,he found that one country would let him bring only 1000 pounds of beef into the country each year.Bob had just discovered a(n)

Sometimes foreign companies have many problems in complying with stringent and often changing regulations and bureaucratic obstacles known as

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 5: The Global Context of Business

With regard to the BRICS nations,it is correct to say that

Licensing arrangements are arrangements

What is a product made or grown abroad but sold domestically called?

Why might a company decide not to conduct business internationally?

The rate of exchange of a nation's currency has a noticeable effect upon the competitive advantages or disadvantages of its companies.

Farmer Sal grows strawberries.The berries are shipped to a local manufacturing plant where they are made into jam,labeled "Country Recipe Strawberry Jam," and boxed for shipment overseas.This product of Ontario is also referred to as a(n)

In some countries,it may be legal to bribe businesses and government officials,but this practice is illegal in Canada.This barrier to international trade is known as

If Trinidad could produce cheaper and better tasting mangos than any other country due to its climate,then it would have an absolute advantage over any other country.

The most fundamental goal of the WTO is to open world markets to international trade.

Which of the following is correct regarding the levels of foreign involvement a business can exhibit?

International trade is important for manufactured goods,but not for services.

What actions can a government take to discourage trade?

If the Canadian dollar becomes weak compared to the Japanese yen,which of the following is likely to occur?

Laura's Lights began shipping products to its new partner in a foreign nation only to find out that before the products would be let into the country a tax of $1.00 per unit had to be paid.This tax is known as a(n)

What are local-content laws? What do they usually imply?

What is a government payment to help domestic business compete with foreign firms called?

Can-Eng Manufacturing,Canada's largest supplier of industrial furnaces,exports its furnaces to companies in Japan,Brazil,Germany,Korea,Taiwan,and Mexico.Can-Eng has an agreement with foreign companies in these countries called a(n)

When Bob began exporting his famous barbecue beef,he found that one country would let him bring only 1000 pounds of beef into the country each year.Bob had just discovered a(n)

Sometimes foreign companies have many problems in complying with stringent and often changing regulations and bureaucratic obstacles known as

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Understanding Marketing Principles and Developing Products

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters