Question 1

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 2

Local content laws cannot exist within a single country.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Mega Computers has decided to expand operations overseas. In order to give foreign customers a sense of security, Mega has chosen to send several of its own managers and technicians to the country as part of the start-up operations. In addition, this will give Mega more control over making sure that top quality service is given to the new customers. Mega has chosen the organizational strategy known as a(n)

Accepted Answer

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

Question 5

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 6

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 strengthen the argument for exporting the company's products to China?

Accepted Answer

A)  Lite Foods has a large budget set aside for foreign direct investments. 
B)  Lite Foods wants to have strict control over its international operations. 
C)  Lite Foods has to modify its product line to suit Chinese tastes and preferences. 
D)  Lite Foods' products do not have a "healthy" reputation in the United States. 
E)  Lite Foods has significant excess capacity that results in production overruns. 
A)  Lite Foods has a large budget set aside for foreign direct investments. 
B)  Lite Foods wants to have strict control over its international operations. 
C)  Lite Foods has to modify its product line to suit Chinese tastes and preferences. 
D)  Lite Foods' products do not have a "healthy" reputation in the United States. 
E)  Lite Foods has significant excess capacity that results in production overruns.

Question 7

When Bob began exporting his famous barbecue beef he found that one country would let him bring only 1000 pounds of beef into the country each year. Bob had just discovered a(n)

Accepted Answer

A)  embargo. 
B)  local content law. 
C)  quota. 
D)  tariff. 
E)  subsidy. 
A)  embargo. 
B)  local content law. 
C)  quota. 
D)  tariff. 
E)  subsidy.

Question 8

11.A country has an absolute advantage in goods that it can produce more efficiently than most other countries.

Accepted Answer

A) True 
 B)False

Question 9

What is the purpose of tariffs on imports?

Accepted Answer

A)  Maintaining domestic competitiveness 
B)  Decreasing exports 
C)  Increasing imports 
D)  Subsidizing domestic industry 
E)  Promoting free trade 
A)  Maintaining domestic competitiveness 
B)  Decreasing exports 
C)  Increasing imports 
D)  Subsidizing domestic industry 
E)  Promoting free trade

Question 10

Countries tend to export products that they can produce better or less expensively than other countries and import products they cannot produce as effectively.

Accepted Answer

A) True 
 B)False

Question 11

Lack of knowledge of foreign customs has led most Canadian companies doing business in Japan to select this form of international organization. What is it?

Accepted Answer

A)  Strategic alliances 
B)  Licensing arrangements 
C)  Independent agents 
D)  Direct investments 
E)  Branch offices 
A)  Strategic alliances 
B)  Licensing arrangements 
C)  Independent agents 
D)  Direct investments 
E)  Branch offices

Question 12

A foreign individual or organization that agrees to represent an exporter's interest in foreign markets is called a(n)

Accepted Answer

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

Question 13

Marketing a specific product to two or more countries is relatively easy since it is increasingly the case with globalization that the same marketing strategy will usually work for both countries.

Accepted Answer

A) True 
 B)False

Question 14

What is a trade surplus?

Accepted Answer

A trade surplus is a situation

Question 15

Country Z can produce pig iron more efficiently than any other product. Which type of advantage in pig iron does Country Z have?

Accepted Answer

A)  Absolute advantage 
B)  National competitive advantage 
C)  Comparative advantage 
D)  Trade balance advantage 
E)  Resource advantage 
A)  Absolute advantage 
B)  National competitive advantage 
C)  Comparative advantage 
D)  Trade balance advantage 
E)  Resource advantage

Question 16

Might getting involved in a strategic alliance be considered more risky, more involved, and more complex than operating under a licensing arrangement? Explain.

Accepted Answer

With a licensing arrangement, a firm giv

Question 17

Which of the following types of firms have planning and decision-making functions that are geared to international markets?

Accepted Answer

A)  Exporting firms 
B)  International firms 
C)  Multinational firms 
D)  Domestic firms 
E)  None of these 
A)  Exporting firms 
B)  International firms 
C)  Multinational firms 
D)  Domestic firms 
E)  None of these

Question 18

Which type of firm is one in which management doesn't think of itself as having domestic and international operations but rather as a firm that designs, makes, and markets products in many nations?

Accepted Answer

A)  An exporter 
B)  An importer 
C)  An international firm 
D)  A multinational firm 
E)  Mininational 
A)  An exporter 
B)  An importer 
C)  An international firm 
D)  A multinational firm 
E)  Mininational

Question 19

If the Canadian dollar becomes stronger in relation to the Japanese yen

Accepted Answer

A)  the prices of all Canadian-made products would rise in Japan and the prices of all Japanese-made products would fall in Canada. 
B)  there would be no effect on the prices of Canadian-made products sold in Japan. 
C)  the prices of all Canadian-made products would fall in Japan and the prices of all Japanese-made products would rise in Canada. 
D)  the prices of all Canadian-made products would fall in Japan and the prices of all Japanese-made products would fall in Canada. 
E)  the prices of all Canadian-made products would rise in Japan and the prices of all Japanese-made products would rise in Canada. 
A)  the prices of all Canadian-made products would rise in Japan and the prices of all Japanese-made products would fall in Canada. 
B)  there would be no effect on the prices of Canadian-made products sold in Japan. 
C)  the prices of all Canadian-made products would fall in Japan and the prices of all Japanese-made products would rise in Canada. 
D)  the prices of all Canadian-made products would fall in Japan and the prices of all Japanese-made products would fall in Canada. 
E)  the prices of all Canadian-made products would rise in Japan and the prices of all Japanese-made products would rise in Canada.

Question 20

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

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

Local content laws cannot exist within a single country.

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

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

When Bob began exporting his famous barbecue beef he found that one country would let him bring only 1000 pounds of beef into the country each year. Bob had just discovered a(n)

11.A country has an absolute advantage in goods that it can produce more efficiently than most other countries.

What is the purpose of tariffs on imports?

Countries tend to export products that they can produce better or less expensively than other countries and import products they cannot produce as effectively.

Lack of knowledge of foreign customs has led most Canadian companies doing business in Japan to select this form of international organization. What is it?

A foreign individual or organization that agrees to represent an exporter's interest in foreign markets is called a(n)

Marketing a specific product to two or more countries is relatively easy since it is increasingly the case with globalization that the same marketing strategy will usually work for both countries.

What is a trade surplus?

Country Z can produce pig iron more efficiently than any other product. Which type of advantage in pig iron does Country Z have?

Might getting involved in a strategic alliance be considered more risky, more involved, and more complex than operating under a licensing arrangement? Explain.

Which of the following types of firms have planning and decision-making functions that are geared to international markets?

Which type of firm is one in which management doesn't think of itself as having domestic and international operations but rather as a firm that designs, makes, and markets products in many nations?

If the Canadian dollar becomes stronger in relation to the Japanese yen

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

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

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

Local content laws cannot exist within a single country.

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

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

When Bob began exporting his famous barbecue beef he found that one country would let him bring only 1000 pounds of beef into the country each year. Bob had just discovered a(n)

11.A country has an absolute advantage in goods that it can produce more efficiently than most other countries.

What is the purpose of tariffs on imports?

Countries tend to export products that they can produce better or less expensively than other countries and import products they cannot produce as effectively.

Lack of knowledge of foreign customs has led most Canadian companies doing business in Japan to select this form of international organization. What is it?

A foreign individual or organization that agrees to represent an exporter's interest in foreign markets is called a(n)

Marketing a specific product to two or more countries is relatively easy since it is increasingly the case with globalization that the same marketing strategy will usually work for both countries.

What is a trade surplus?

Country Z can produce pig iron more efficiently than any other product. Which type of advantage in pig iron does Country Z have?

Might getting involved in a strategic alliance be considered more risky, more involved, and more complex than operating under a licensing arrangement? Explain.

Which of the following types of firms have planning and decision-making functions that are geared to international markets?

Which type of firm is one in which management doesn't think of itself as having domestic and international operations but rather as a firm that designs, makes, and markets products in many nations?

If the Canadian dollar becomes stronger in relation to the Japanese yen

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

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