Exam 8: Importing, Exporting, and Sourcing

If the dollar, the yen, or the mark becomes seriously overvalued, a company with production capacity in other locations can achieve competitive advantage by shifting its production among several different sites.

A nontariff barrier (NTB) is a hidden trade barrier that is a deterrent or obstacle to the sale of products in a foreign market.

What are some of the advantages of exporting and what is needed to be successful in export marketing?

Restrictive administrative and technical regulations can create barriers to trade which may take all of the following forms except:

A company that assigns a sufficiently high priority to its export business will establish an in-house organization. It then faces the question of how to organize it effectively.

The Common Agricultural Policy (CAP) determines the level of subsidies granted to farmers in Latin America.

Research discovered that even the most experienced exporters express lack of confidence in their knowledge about shipping arrangements, payment procedures, and regulations.

After the research effort has zeroed in on potential markets, marketers should:

Even today, the managerial mind-set in many companies still favors export selling rather than export marketing.

Which of the following methods of financing would be used if the exporting and importing parties had a strong, long-standing relationship?

Any government concerned with trade deficits or economic development should focus on educating firms about the potential gains from exporting.

Export marketing requires all of the following except:

The sale of merchandise in export markets at unfair prices is known as:

Which of the following is not true about a personal visit to size up the market firsthand and begin the development of an actual export-marketing program?

"Piggyback exporter," "cooperative exporter," and "export vendor" are all terms used to describe an export broker.

Governmental actions that discourage imports and block markets include all of the following except:

After research has zeroed in on potential markets, there is no substitute for a personal visit to size up the market firsthand and begin the development of an actual export-marketing program.

How can restrictive administrative and technical regulations create barriers to trade?

Sweden applies a system to certain categories of imported agricultural products referred to as:

In an effort to facilitate exports, countries are designating certain areas as "free trade zones" (FTZ) or "special economic zones" (SEZ).