Exam 2: An Overview of the International Marketing Environment

What traits are characteristic of emerging markets?

According to TRIPS, patents can be granted for any new technological process or product, and the protection lasts ____ years from the date of application.

The Marxist-Leninist (Maoist) model competes with market-oriented capitalist philosophies.

More than half of the 100 biggest economies in the world are now corporations, not nations.

_________________________ is based on prior court rulings (legal precedent).

Which type of law is based on prior court rulings (i.e., legal precedent)?

Lower middle income countries comprise the transition economies of Central and Eastern Europe: Estonia, Hungary, Latvia, Lithuania, Poland, and the Russian Federation, among others..

Protection of the rights of the inventor or of the firm employing the inventor to use and sell the invention for a specified period of time is known as a ____.

In contrast to high-income countries, low-income countries do not present opportunities for firms operating in the areas of infrastructure development.

Domestication occurs when the local government requires a gradual transfer of ownership and management to locals.

U. S. companies must abide by international trade laws and host country laws when operating in foreign countries, but do not need to consider home-country laws.

Which of the following refers to "the seizing of company assets and/or investors' assets without any compensation."

Expropriation refers to the seizing of company assets and/or investors's assets without any compensation.

Internal diversity and incongruent interests are elements of political risk within a country.

Trade secrets are not protected by law.

Under older Western classification, socialist countries used to be referred to as Second World.

This government agency is used to evaluate a country's political risk:

Modern technology is fully adopted in all economic activity and new leading sectors emerge in the "drive to maturity" stage of the Rostow Modernization model.

During downturns in the local economy, governments are unlikely to control foreign investment through taxation.

Countries in the "traditional society" stage of economic development are characterized by an economic structure that is dominated by technology.