Exam 11: Competing in the Global Environment

_______ refers to the act of exporting goods and services to foreign countries at very low prices, sometimes even below cost, in order to increase market share and potentially leading to putting competitors out of business and then raising prices.

Which of the following is not true of the EU?

The EU has three important systems that improve trade for member countries, and those who conduct business in the EU. Describe how the EU benefits from these systems.

Which of the following is not part of the World Bank Group?

Which statements about the WTO, World Bank, and IMF are true?

Bribes are commonly given to high-level officials to buy products, but they are also given to avoid taxes, to stop unfavorable government intervention, and to gain favorable treatment.

Central state control does not allow, or limits, private ownership of businesses, and markets are closed because only the government operates all business.

The International Trade Administration of the Department of Commerce and the International Trade Commission administer certain aspects of trade law.

Which statements about grease payments, bribes, and offsets are true?

Transparency International has a vision of a world in which government, politics, business, civil society, and the daily lives of people are free of corruption.

Discuss ethical imperialism as opposed to cultural relativism.

Which statements about who benefits and pays the cost of protectionism are true?

Explain competitive theory.

Protectionism works in the long-run.

Which of the following is not true of a democracy?

Discuss the concepts of trade deficit and trade surplus and describe the relationship between the two.

________ holds that international trade is based on gains from trade.