Question 1

What are the strengths of each of the BRICS countries?

Accepted Answer

Brazil and South Africa are strong in co

Question 2

Dumping involves selling products at

Accepted Answer

A)  less than fair value. 
B)  less than what domestic producers charge. 
C)  less than what is reasonable. 
D)  a lower price than competitors. 
E)  less in one country than another. 
A)  less than fair value. 
B)  less than what domestic producers charge. 
C)  less than what is reasonable. 
D)  a lower price than competitors. 
E)  less in one country than another.

Question 3

When the value of the Canadian dollar rises

Accepted Answer

A)  both our imports and our exports become more expensive. 
B)  there is no change in the price of our imports and our exports. 
C)  our imports become more expensive and our exports become cheaper. 
D)  our imports become cheaper and our exports become more expensive. 
E)  both our imports and our exports become cheaper. 
A)  both our imports and our exports become more expensive. 
B)  there is no change in the price of our imports and our exports. 
C)  our imports become more expensive and our exports become cheaper. 
D)  our imports become cheaper and our exports become more expensive. 
E)  both our imports and our exports become cheaper.

Question 4

Citronel is a French company that markets a range of fashionable clothing to French consumers under its widely known brand name. The company wants to begin marketing its products worldwide and needs to decide on the most effective and profitable strategy. Citronel's CEO thinks that a market segment already exists worldwide that will be receptive to Citronel's product line. Which of the following, if true, would strengthen the CEO's position?

Accepted Answer

A)  People in different parts of the world tend to embrace their own clothing fashions. 
B)  Consumers in different parts of the world have varied spending power. 
C)  Clothing fashions that originate in France tend to appeal to different places in the world. 
D)  Citronel has accumulated extensive market data on French consumers. 
E)  Citronel has been in business for only a few years. 
A)  People in different parts of the world tend to embrace their own clothing fashions. 
B)  Consumers in different parts of the world have varied spending power. 
C)  Clothing fashions that originate in France tend to appeal to different places in the world. 
D)  Citronel has accumulated extensive market data on French consumers. 
E)  Citronel has been in business for only a few years.

Question 5

The status of the BRIC 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 6

What are the three basic levels of involvement in international business?

Accepted Answer

- Exporting/importing goods an

Question 7

Which of the following is correct with regard to Canada's balance of trade?

Accepted Answer

A)  Canada had a trade surplus of $4.6 billion in 2014. 
B)  The United Kingdom is Canada's largest trading partner. 
C)  Canada's generally favourable trade balance over the years has occurred because our unfavourable balance of trade with the United States is offset by our favourable balance of trade with most other countries. 
D)  Canada has generally had an unfavourable balance of trade. 
E)  None of these. 
A)  Canada had a trade surplus of $4.6 billion in 2014. 
B)  The United Kingdom is Canada's largest trading partner. 
C)  Canada's generally favourable trade balance over the years has occurred because our unfavourable balance of trade with the United States is offset by our favourable balance of trade with most other countries. 
D)  Canada has generally had an unfavourable balance of trade. 
E)  None of these.

Question 8

Local content laws state that

Accepted Answer

A)  products sold in a country should be at least partially made in that country. 
B)  an imported product must meet local standards before it can be brought in. 
C)  an imported product must include some raw materials from the domestic country. 
D)  an imported product must fit with the local culture before it can be brought in. 
E)  an imported product must abide by local bylaws before it can be brought in. 
A)  products sold in a country should be at least partially made in that country. 
B)  an imported product must meet local standards before it can be brought in. 
C)  an imported product must include some raw materials from the domestic country. 
D)  an imported product must fit with the local culture before it can be brought in. 
E)  an imported product must abide by local bylaws before it can be brought in.

Question 9

Biltmore Corp. is involved in a planning process for doing business internationally. They have already determined that their product can be modified to fit foreign markets. What should they do next?

Accepted Answer

A)  Determine if the company has the skills necessary to do business abroad 
B)  Determine if there is international demand for the product 
C)  Assess the business climate for receptivity to imports 
D)  Determine if the product needs to be modified to fit the foreign market 
E)  Conduct market research to determine potential sales 
A)  Determine if the company has the skills necessary to do business abroad 
B)  Determine if there is international demand for the product 
C)  Assess the business climate for receptivity to imports 
D)  Determine if the product needs to be modified to fit the foreign market 
E)  Conduct market research to determine potential sales

Question 10

Which of the following best describes a positive trade balance?

Accepted Answer

A)  The economic condition in which a country's exports exceed its imports 
B)  The economic condition in which a country's imports exceed its exports 
C)  The economic condition in which a country's inflow of money exceeds its outflow 
D)  The economic condition in which a country's outflow of money exceeds its inflow 
E)  The economic condition in which a country's natural resources exceed its human resources 
A)  The economic condition in which a country's exports exceed its imports 
B)  The economic condition in which a country's imports exceed its exports 
C)  The economic condition in which a country's inflow of money exceeds its outflow 
D)  The economic condition in which a country's outflow of money exceeds its inflow 
E)  The economic condition in which a country's natural resources exceed its human resources

Question 11

Selling a product abroad for less than the cost of production is referred to as

Accepted Answer

A)  direct foreign investment. 
B)  setting up a business office. 
C)  dumping. 
D)  imposing tariffs. 
E)  setting up quotas. 
A)  direct foreign investment. 
B)  setting up a business office. 
C)  dumping. 
D)  imposing tariffs. 
E)  setting up quotas.

Question 12

Which of the following is an example of importing a service?

Accepted Answer

A)  A Canadian purchases a ticket to see a performance by a Spanish singer 
B)  A Toronto taxi driver takes an American from Pearson airport to a downtown Toronto hotel 
C)  A Canadian engineer designs a bridge to be built in Australia 
D)  An accountant does financial statements for a Mexican company 
E)  A Canadian lawyer goes to California to work on a litigation case 
A)  A Canadian purchases a ticket to see a performance by a Spanish singer 
B)  A Toronto taxi driver takes an American from Pearson airport to a downtown Toronto hotel 
C)  A Canadian engineer designs a bridge to be built in Australia 
D)  An accountant does financial statements for a Mexican company 
E)  A Canadian lawyer goes to California to work on a litigation case

Question 13

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

Accepted Answer

Local-content laws require that products

Question 14

Exports are

Accepted Answer

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

Question 15

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 optimal route 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 16

Supporters of free trade in Canada argued all of the following except

Accepted Answer

A)  Canadian imports would increase because of free trade. 
B)  there is nothing in the free trade agreements that threatens Canada's control over its energy resources. 
C)  access to U.S. markets is guaranteed by free trade and is therefore crucial to protecting Canadian employment. 
D)  the environment is not covered in free trade agreements. 
E)  the free trade agreements are about trade and tariffs, not cultural sovereignty. 
A)  Canadian imports would increase because of free trade. 
B)  there is nothing in the free trade agreements that threatens Canada's control over its energy resources. 
C)  access to U.S. markets is guaranteed by free trade and is therefore crucial to protecting Canadian employment. 
D)  the environment is not covered in free trade agreements. 
E)  the free trade agreements are about trade and tariffs, not cultural sovereignty.

Question 17

Laura's Lights, Inc. has decided to expand business into Vietnam. Laura is looking for help with funding the operation and to share in the risk. She knows little about the customs and how to get things done in Vietnam. The best international structure for her is probably a(n)

Accepted Answer

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

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

Tariffs that are imposed strictly to raise money for the government are referred to as ________ tariffs.

Accepted Answer

A)  quota 
B)  revenue 
C)  protectionist 
D)  union 
E)  subsidy 
A)  quota 
B)  revenue 
C)  protectionist 
D)  union 
E)  subsidy

Question 20

BBX represents several firms at once and usually does not specialize in a particular product or market. It is a(n)

Accepted Answer

A)  independent agent. 
B)  royalty company. 
C)  licensing company. 
D)  branch office. 
E)  strategic alliance. 
A)  independent agent. 
B)  royalty company. 
C)  licensing company. 
D)  branch office. 
E)  strategic alliance.

What are the strengths of each of the BRICS countries?

Dumping involves selling products at

When the value of the Canadian dollar rises

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

What are the three basic levels of involvement in international business?

Which of the following is correct with regard to Canada's balance of trade?

Local content laws state that

Biltmore Corp. is involved in a planning process for doing business internationally. They have already determined that their product can be modified to fit foreign markets. What should they do next?

Which of the following best describes a positive trade balance?

Selling a product abroad for less than the cost of production is referred to as

Which of the following is an example of importing a service?

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

Exports are

Supporters of free trade in Canada argued all of the following except

Laura's Lights, Inc. has decided to expand business into Vietnam. Laura is looking for help with funding the operation and to share in the risk. She knows little about the customs and how to get things done in Vietnam. The best international structure for her is probably a(n)

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

Tariffs that are imposed strictly to raise money for the government are referred to as ________ tariffs.

BBX represents several firms at once and usually does not specialize in a particular product or market. It is a(n)

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, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters

Exam 5: The Global Context of Business

What are the strengths of each of the BRICS countries?

Dumping involves selling products at

When the value of the Canadian dollar rises

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

What are the three basic levels of involvement in international business?

Which of the following is correct with regard to Canada's balance of trade?

Local content laws state that

Biltmore Corp. is involved in a planning process for doing business internationally. They have already determined that their product can be modified to fit foreign markets. What should they do next?

Which of the following best describes a positive trade balance?

Selling a product abroad for less than the cost of production is referred to as

Which of the following is an example of importing a service?

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

Exports are

Supporters of free trade in Canada argued all of the following except

Laura's Lights, Inc. has decided to expand business into Vietnam. Laura is looking for help with funding the operation and to share in the risk. She knows little about the customs and how to get things done in Vietnam. The best international structure for her is probably a(n)

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

Tariffs that are imposed strictly to raise money for the government are referred to as ________ tariffs.

BBX represents several firms at once and usually does not specialize in a particular product or market. It is a(n)

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, Promotion, and Distributing Products

Money and Banking

Finacial Decisions and Risk Management

Filters