Question 1

Imports are

Accepted Answer

A) services that are created in Canada and sold abroad. 
B) products that are made or grown abroad and sold in Canada;services cannot be imported. 
C) goods and services that are made or grown in Canada and sold abroad. 
D) products that are made or grown in Canada and sold abroad;services cannot be imported. 
E) goods and services that are made or grown abroad and sold in Canada. 
A) services that are created in Canada and sold abroad. 
B) products that are made or grown abroad and sold in Canada;services cannot be imported. 
C) goods and services that are made or grown in Canada and sold abroad. 
D) products that are made or grown in Canada and sold abroad;services cannot be imported. 
E) goods and services that are made or grown abroad and sold in Canada.

Question 2

"All this talk about a global economy is relevant only for big firms.My company is too small for that type of thinking." Agree or disagree with this statement and support your position.

Accepted Answer

Conclusions will vary,but shou

Question 3

Which of the following items is least likely to impact a nation's balance of payments?

Accepted Answer

A) Gains or losses in exchanges of international currencies 
B) An increase in the GDP 
C) Money spent by tourists 
D) Trade deficits or surpluses 
E) Foreign aid programs 
A) Gains or losses in exchanges of international currencies 
B) An increase in the GDP 
C) Money spent by tourists 
D) Trade deficits or surpluses 
E) Foreign aid programs

Question 4

Algoma Treasures,a gift-wrap manufacturer,is considering expanding its business into the international market.What key question must have a positive answer before a company begins international operations?

Accepted Answer

A) Is there a demand for its products abroad? 
B) Is there a favourable balance of trade? 
C) What is the currency exchange rate? 
D) Is there a favourable balance of payments? 
E) Is local culture compatible? 
A) Is there a demand for its products abroad? 
B) Is there a favourable balance of trade? 
C) What is the currency exchange rate? 
D) Is there a favourable balance of payments? 
E) Is local culture compatible?

Question 5

Explain the two forms of competitive advantage and provide examples of each.

Accepted Answer

Absolute advantage refers to a nation's

Question 6

Which of the following is correct with regard to the balance of trade and the balance of payments?

Accepted Answer

A) If a country has a favourable balance of trade,it will also have a favourable balance of payments. 
B) The balance of payments is computed by dividing the value of a country's currency by the number of currency transactions that took place in the previous year. 
C) A country that imports more than it exports has a favourable balance of trade. 
D) Countries used to strive to have a favourable balance of trade,but governments no longer worry about that issue because of globalization. 
E) Canada has generally had a favourable balance of trade during the last few decades. 
A) If a country has a favourable balance of trade,it will also have a favourable balance of payments. 
B) The balance of payments is computed by dividing the value of a country's currency by the number of currency transactions that took place in the previous year. 
C) A country that imports more than it exports has a favourable balance of trade. 
D) Countries used to strive to have a favourable balance of trade,but governments no longer worry about that issue because of globalization. 
E) Canada has generally had a favourable balance of trade during the last few decades.

Question 7

What is the implication for a manufacturer of electrically powered equipment contemplating international operation upon learning of the wide variety of electric outlets around the world?

Accepted Answer

A) Modify the product to meet the standards of different countries 
B) Deal with independent agents 
C) Delay international operations until the currency exchange rate is favourable 
D) Drop the idea of international operation 
E) None of these 
A) Modify the product to meet the standards of different countries 
B) Deal with independent agents 
C) Delay international operations until the currency exchange rate is favourable 
D) Drop the idea of international operation 
E) None of these

Question 8

Lite Foods is a producer of breakfast cereals such as oatmeal and cornflakes,and its products can be found in nearly all supermarkets across Canada.Lite Foods now has its sights set on international shores,specifically the large Chinese consumer market.Company executives are currently debating the best way for the firm to enter the market. Which of the following,if true,would weaken the argument for exporting the company's products to China?

Accepted Answer

A) Lite Foods will have to make significant investments if it decides to enter a joint venture in China. 
B) Lite Foods would have to hire sales personnel from the host country if it opts for direct export. 
C) Lite Foods is a risk-averse organization. 
D) Lite Foods lacks Chinese market expertise and has not found reliable intermediaries with expertise in the market. 
E) Lite Foods will export its products as is,as more and more Chinese consumers are adopting breakfast cereals. 
A) Lite Foods will have to make significant investments if it decides to enter a joint venture in China. 
B) Lite Foods would have to hire sales personnel from the host country if it opts for direct export. 
C) Lite Foods is a risk-averse organization. 
D) Lite Foods lacks Chinese market expertise and has not found reliable intermediaries with expertise in the market. 
E) Lite Foods will export its products as is,as more and more Chinese consumers are adopting breakfast cereals.

Question 9

What organization was founded in Pacific Asia for economic,political,social,and cultural cooperation?

Accepted Answer

A) CENTO 
B) ASEAN 
C) Warsaw Pact 
D) NATO 
E) SEATO 
A) CENTO 
B) ASEAN 
C) Warsaw Pact 
D) NATO 
E) SEATO

Question 10

International trade improves peoples' standard of living,yet countries often put up trade barriers? Why is this?

Accepted Answer

A) Goods that are imported compete with domestic products and put pressure on domestic businesses. 
B) The quality of imported products is usually lower than the quality of domestically produced products. 
C) Generating government revenue is often more economically valuable than free trade. 
D) It is an effort to keep a country's currency strong. 
E) International trade causes political tensions to develop. 
A) Goods that are imported compete with domestic products and put pressure on domestic businesses. 
B) The quality of imported products is usually lower than the quality of domestically produced products. 
C) Generating government revenue is often more economically valuable than free trade. 
D) It is an effort to keep a country's currency strong. 
E) International trade causes political tensions to develop.

Question 11

What is a tariff?

Accepted Answer

A tariff i

Question 12

What are some advantages for businesses that engage in strategic alliances?

Accepted Answer

Such businesses benefit from t

Question 13

The status of the BRICS nations has risen in international trade for one main reason: they all are big exporters of the commodities that the advanced industrialized nations need.

Accepted Answer

A) True 
 B)False

Question 14

How might the international market specifically affect the success of a local coffee shop in Regina?

Accepted Answer

The price and availability of coffee bea

Question 15

What is globalization?

Accepted Answer

Globalization refers to the pr

Question 16

Describe the relationship of exports and imports in a country's balance of trade and its balance of payments.

Accepted Answer

Exports are products created domesticall

Question 17

According to the World Bank,Canada,South Korea,and Kuwait are all considered high-income countries.

Accepted Answer

A) True 
 B)False

Question 18

Why does the contemporary world economy revolve around three major marketplaces: North America,Europe,and Asia-Pacific?

Accepted Answer

These three geographic regions

Question 19

Which of the following is not one of the goals of the WTO?

Accepted Answer

A) To promote trade by encouraging members to adopt fair trade practices 
B) To promote multilateral negotiations regarding trade 
C) To reduce the amount of corruption in countries that score poorly on the Corruption Perceptions Index of Transparency International 
D) To establish fair procedures for resolving disputes among members 
E) To reduce trade barriers 
A) To promote trade by encouraging members to adopt fair trade practices 
B) To promote multilateral negotiations regarding trade 
C) To reduce the amount of corruption in countries that score poorly on the Corruption Perceptions Index of Transparency International 
D) To establish fair procedures for resolving disputes among members 
E) To reduce trade barriers

Question 20

In which international structure would royalties likely be paid to the exporter?

Accepted Answer

A) By a branch office 
B) Under a licensing arrangement 
C) By a subsidiary manufacturing plant 
D) In a joint venture 
E) In a strategic alliance 
A) By a branch office 
B) Under a licensing arrangement 
C) By a subsidiary manufacturing plant 
D) In a joint venture 
E) In a strategic alliance

Imports are

"All this talk about a global economy is relevant only for big firms.My company is too small for that type of thinking." Agree or disagree with this statement and support your position.

Which of the following items is least likely to impact a nation's balance of payments?

Algoma Treasures,a gift-wrap manufacturer,is considering expanding its business into the international market.What key question must have a positive answer before a company begins international operations?

Explain the two forms of competitive advantage and provide examples of each.

Which of the following is correct with regard to the balance of trade and the balance of payments?

What is the implication for a manufacturer of electrically powered equipment contemplating international operation upon learning of the wide variety of electric outlets around the world?

What organization was founded in Pacific Asia for economic,political,social,and cultural cooperation?

International trade improves peoples' standard of living,yet countries often put up trade barriers? Why is this?

What is a tariff?

What are some advantages for businesses that engage in strategic alliances?

The status of the BRICS nations has risen in international trade for one main reason: they all are big exporters of the commodities that the advanced industrialized nations need.

How might the international market specifically affect the success of a local coffee shop in Regina?

What is globalization?

Describe the relationship of exports and imports in a country's balance of trade and its balance of payments.

According to the World Bank,Canada,South Korea,and Kuwait are all considered high-income countries.

Why does the contemporary world economy revolve around three major marketplaces: North America,Europe,and Asia-Pacific?

Which of the following is not one of the goals of the WTO?

In which international structure would royalties likely be paid to the exporter?

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

Imports are

"All this talk about a global economy is relevant only for big firms.My company is too small for that type of thinking." Agree or disagree with this statement and support your position.

Which of the following items is least likely to impact a nation's balance of payments?

Algoma Treasures,a gift-wrap manufacturer,is considering expanding its business into the international market.What key question must have a positive answer before a company begins international operations?

Explain the two forms of competitive advantage and provide examples of each.

Which of the following is correct with regard to the balance of trade and the balance of payments?

What is the implication for a manufacturer of electrically powered equipment contemplating international operation upon learning of the wide variety of electric outlets around the world?

What organization was founded in Pacific Asia for economic,political,social,and cultural cooperation?

International trade improves peoples' standard of living,yet countries often put up trade barriers? Why is this?

What is a tariff?

What are some advantages for businesses that engage in strategic alliances?

The status of the BRICS nations has risen in international trade for one main reason: they all are big exporters of the commodities that the advanced industrialized nations need.

How might the international market specifically affect the success of a local coffee shop in Regina?

What is globalization?

Describe the relationship of exports and imports in a country's balance of trade and its balance of payments.

According to the World Bank,Canada,South Korea,and Kuwait are all considered high-income countries.

Why does the contemporary world economy revolve around three major marketplaces: North America,Europe,and Asia-Pacific?

Which of the following is not one of the goals of the WTO?

In which international structure would royalties likely be paid to the exporter?

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