Question 1

What might be inferred if a nation has a continual deficit in its balance of payments?

Accepted Answer

A continual deficit in the balance of pa

Question 2

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Accepted Answer

A)  a company advantage 
B)  an absolute advantage 
C)  a comparative advantage 
D)  an effective manufacturing system 
E)  very low labor costs 
A)  a company advantage 
B)  an absolute advantage 
C)  a comparative advantage 
D)  an effective manufacturing system 
E)  very low labor costs

Question 3

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

Accepted Answer

A)  License the company's brand name and products to foreign manufacturers. 
B)  Contact Sears World Trade to find foreign consumers. 
C)  Open new facilities around the world. 
D)  Form a joint venture with a complementary company in a foreign country. 
E)  Sell the company's products to an export-import merchant. 
A)  License the company's brand name and products to foreign manufacturers. 
B)  Contact Sears World Trade to find foreign consumers. 
C)  Open new facilities around the world. 
D)  Form a joint venture with a complementary company in a foreign country. 
E)  Sell the company's products to an export-import merchant.

Question 4

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

Accepted Answer

A)  licensees. 
B)  export agents. 
C)  strategic alliances. 
D)  trading companies. 
E)  countertraders. 
A)  licensees. 
B)  export agents. 
C)  strategic alliances. 
D)  trading companies. 
E)  countertraders.

Question 5

____ is the ability to produce a specific product more efficiently than any other product.

Accepted Answer

A)  Absolute advantage 
B)  Specialization 
C)  Relative advantage 
D)  Dominant advantage 
E)  Comparative advantage 
A)  Absolute advantage 
B)  Specialization 
C)  Relative advantage 
D)  Dominant advantage 
E)  Comparative advantage

Question 6

What are the arguments against trade restrictions? Are these arguments valid? Explain.

Accepted Answer

There are several arguments against trad

Question 7

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Accepted Answer

A)  exporting. 
B)  importing. 
C)  an embargo. 
D)  dropping. 
E)  dumping. 
A)  exporting. 
B)  importing. 
C)  an embargo. 
D)  dropping. 
E)  dumping.

What might be inferred if a nation has a continual deficit in its balance of payments?

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

____ is the ability to produce a specific product more efficiently than any other product.

What are the arguments against trade restrictions? Are these arguments valid? Explain.

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Exploring the World of Business and Economics

A: Being Ethical and Socially Responsible

B: Being Ethical and Socially Responsible

B: Exploring Global Business

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Enhancing Union-Management Relations

Building Customer Relationships Through Effective Marketing

A: Creating and Pricing Products That Satisfy Customers

B: Creating and Pricing Products That Satisfy Customers

Wholesaling, Retailing, and Physical Distribution

Developing Integrated Marketing Communications

Social Media, E-Business, and Accounting

Using Management and Accounting Information

Understanding Money, Banking, and Credit

Mastering Financial Management

A: Understanding Personal Finances and Investments

B: Understanding Personal Finances and Investments

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Exam 3: A: Exploring Global Business

What might be inferred if a nation has a continual deficit in its balance of payments?

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

____ is the ability to produce a specific product more efficiently than any other product.

What are the arguments against trade restrictions? Are these arguments valid? Explain.

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Exploring the World of Business and Economics

A: Being Ethical and Socially Responsible

B: Being Ethical and Socially Responsible

B: Exploring Global Business

Choosing a Form of Business Ownership

Small Business, Entrepreneurship, and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating and Satisfying Employees and Teams

Enhancing Union-Management Relations

Building Customer Relationships Through Effective Marketing

A: Creating and Pricing Products That Satisfy Customers

B: Creating and Pricing Products That Satisfy Customers

Wholesaling, Retailing, and Physical Distribution

Developing Integrated Marketing Communications

Social Media, E-Business, and Accounting

Using Management and Accounting Information

Understanding Money, Banking, and Credit

Mastering Financial Management

A: Understanding Personal Finances and Investments

B: Understanding Personal Finances and Investments

Filters