Exam 8: Importing, Exporting, and Sourcing

Governments in Japan, Singapore, South Korea, and China have supported exports for years, which have tremendously helped their economies. Since exporting is a very important component of a country's business strategy, many government programs are offered that support exports. Describe ways by which governments can support exports.

An irrevocable letter of credit transfers the payment obligation for an export deal from the buyer to the buyer's:

The Ministry of International Trade and Industry (MITI) has helped devise export strategies for companies in:

The so-called "China triangle" includes:

Potential export problems include packaging, government red tape, warehousing, advertising, and trade restrictions.

Which of the following can be referred to as a "buyer for export" or an "export commission house" and operates on behalf of a buyer from a foreign country?

Agricultural subsidies are particularly controversial because, although they protect the interests of farmers in some countries, they work to the detriment of farmers in countries such as:

Which of the following refers to a system of farm subsidies in Europe?

What is the impact of tariffs imposed by U.S. Donald Trump's "America First" policy on imports of steel and aluminum?

The four tigers-Singapore, South Korea, Taiwan, and Hong Kong-learned from the Japanese experience and built strong export-based economies of their own.

Governments commonly use activities to support and encourage firms that engage in exporting. Such activities include all of the following except:

In general, the greater the distance between the product source and the target market, the greater the time delay for delivery and the lower the transportation cost.

The export marketer takes the domestic product "as is" and sells it to international customers.

The Customs Trade Partnership Against Terrorism (C-TPAT) recognizes that U.S. Customs and Border Protection (CBP) is responsible for screening import cargo transactions.

Research has shown that exporting is essentially a developmental process that proceeds in different stages. Before a firm reaches stage 4, it must do which one of the following activities?

The Harmonized Tariff System (HTS) has eliminated virtually all problems associated with assigning tariff classifications to new products.

Which of the following financing methods would be used by an exporter that enjoys good relations with a buyer in a well-established market?

What are customs duties? How do they work in controlling imported goods?

Which of the following correctly states the role of banks in import/export transactions involving a letter of credit (L/C)?

Governmental actions at times are designed to discourage imports and block market access. Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.