Question 1

What are the different international barriers to trade? Give an example of each one.

Accepted Answer

The obstacles to international trade are

Question 2

A corporation that operates in several countries but without significant ties to any of them is a(n)

Accepted Answer

A)  joint venture. 
B)  exporter. 
C)  cartel. 
D)  multinational. 
E)  strategic alliance. 
A)  joint venture. 
B)  exporter. 
C)  cartel. 
D)  multinational. 
E)  strategic alliance.

Question 3

What is the International Monetary Fund (IMF)and what does it do?

Accepted Answer

The IMF is an organization established i

Question 4

To facilitate free trade among members,the European Union is working toward all of the following except

Accepted Answer

A)  the standardization of business regulations. 
B)  the standardization of import duties. 
C)  the elimination of customs checks. 
D)  the creation of opportunities to trade with countries in South America. 
E)  the creation of a standardized currency. 
A)  the standardization of business regulations. 
B)  the standardization of import duties. 
C)  the elimination of customs checks. 
D)  the creation of opportunities to trade with countries in South America. 
E)  the creation of a standardized currency.

Question 5

All multinationals are U.S.firms.

Accepted Answer

A) True 
 B)False

Question 6

Standardizing products for the whole world as if it were a single entity is a characteristic of which strategy?

Accepted Answer

A)  Global strategy 
B)  Multilevel strategy 
C)  Standardization strategy 
D)  Marketing strategy 
E)  National strategy 
A)  Global strategy 
B)  Multilevel strategy 
C)  Standardization strategy 
D)  Marketing strategy 
E)  National strategy

Question 7

Which trade alliance/agreement permits businesses to participate in a wide range of its activities?

Accepted Answer

A)  General Agreement on Tariffs and Trade 
B)  Asia-Pacific Economic Cooperation 
C)  North American Free Trade Agreement 
D)  European Union 
E)  Association of Southeast Asian Nations 
A)  General Agreement on Tariffs and Trade 
B)  Asia-Pacific Economic Cooperation 
C)  North American Free Trade Agreement 
D)  European Union 
E)  Association of Southeast Asian Nations

Question 8

A strategic alliance is a partnership formed to create competitive advantage on a worldwide basis.

Accepted Answer

A) True 
 B)False

Question 9

Licensing is a way of entering the international marketplace without spending large amounts of money abroad.

Accepted Answer

A) True 
 B)False

Question 10

Trading companies offer all of the following services except

Accepted Answer

A)  consulting. 
B)  advertising. 
C)  manufacturing. 
D)  warehousing. 
E)  foreign exchange. 
A)  consulting. 
B)  advertising. 
C)  manufacturing. 
D)  warehousing. 
E)  foreign exchange.

Question 11

In international trade,what is the difference between an absolute advantage and a comparative advantage?

Accepted Answer

An absolute advantage in trade exists wh

Question 12

Many businesspeople today try to "think locally,act globally."

Accepted Answer

A) True 
 B)False

Question 13

International business involves the buying,selling,and trading of goods and services across national boundaries.

Accepted Answer

A) True 
 B)False

Question 14

Customizing products,promotion,and distribution according to cultural,technological,and national differences indicates a

Accepted Answer

A)  globalization strategy. 
B)  multinational strategy. 
C)  strategic alliance. 
D)  multinational corporation. 
E)  joint venture. 
A)  globalization strategy. 
B)  multinational strategy. 
C)  strategic alliance. 
D)  multinational corporation. 
E)  joint venture.

Question 15

Which of the following is formally called the International Bank for Reconstruction and Development?

Accepted Answer

A)  World Bank 
B)  International Monetary Fund 
C)  European Union 
D)  North American Free Trade Agreement 
E)  World Trade Organization 
A)  World Bank 
B)  International Monetary Fund 
C)  European Union 
D)  North American Free Trade Agreement 
E)  World Trade Organization

Question 16

Which of the following makes short-term loans to member countries with trade deficits and provides foreign currencies to member nations?

Accepted Answer

A)  Foreign Credit Insurance Association 
B)  General Agreement on Tariffs and Trade 
C)  World Bank 
D)  World Trade Organization 
E)  International Monetary Fund 
A)  Foreign Credit Insurance Association 
B)  General Agreement on Tariffs and Trade 
C)  World Bank 
D)  World Trade Organization 
E)  International Monetary Fund

Question 17

Even when products are standardized,_____ often has to be modified internationally.

Accepted Answer

A)  formulas 
B)  fragrances 
C)  advertising 
D)  key ingredients 
E)  products can never be standardized 
A)  formulas 
B)  fragrances 
C)  advertising 
D)  key ingredients 
E)  products can never be standardized

Question 18

An intermediary,or middleman,that markets goods in another country is acting as a(n)

Accepted Answer

A)  licensing agent. 
B)  franchising agent. 
C)  export agent. 
D)  contract manufacturer. 
E)  direct investor. 
A)  licensing agent. 
B)  franchising agent. 
C)  export agent. 
D)  contract manufacturer. 
E)  direct investor.

Question 19

Because Colombia can produce coffee so much more efficiently than other items produced there,it has which of the following advantages?

Accepted Answer

A)  Absolute 
B)  Positive 
C)  Negative 
D)  Marginal 
E)  Comparative 
A)  Absolute 
B)  Positive 
C)  Negative 
D)  Marginal 
E)  Comparative

Question 20

Explain the different levels of organizational involvement in international trade.

Accepted Answer

Exporting occurs when a company sells it

What are the different international barriers to trade? Give an example of each one.

A corporation that operates in several countries but without significant ties to any of them is a(n)

What is the International Monetary Fund (IMF)and what does it do?

To facilitate free trade among members,the European Union is working toward all of the following except

All multinationals are U.S.firms.

Standardizing products for the whole world as if it were a single entity is a characteristic of which strategy?

Which trade alliance/agreement permits businesses to participate in a wide range of its activities?

A strategic alliance is a partnership formed to create competitive advantage on a worldwide basis.

Licensing is a way of entering the international marketplace without spending large amounts of money abroad.

Trading companies offer all of the following services except

In international trade,what is the difference between an absolute advantage and a comparative advantage?

Many businesspeople today try to "think locally,act globally."

International business involves the buying,selling,and trading of goods and services across national boundaries.

Customizing products,promotion,and distribution according to cultural,technological,and national differences indicates a

Which of the following is formally called the International Bank for Reconstruction and Development?

Which of the following makes short-term loans to member countries with trade deficits and provides foreign currencies to member nations?

Even when products are standardized,_____ often has to be modified internationally.

An intermediary,or middleman,that markets goods in another country is acting as a(n)

Because Colombia can produce coffee so much more efficiently than other items produced there,it has which of the following advantages?

Explain the different levels of organizational involvement in international trade.

The Dynamics of Business and Economics

Business Ethics and Social Responsibility

Options for Organizing Business

Small Business, entrepreneurship, and Franchising

The Nature of Management

Organization, teamwork, and Communication

Managing Service and Manufacturing Operations

Motivating the Workforce

Managing Human Resources

Customer-Driven Marketing

Dimensions of Marketing Strategy

Digital Marketing and Social Networking

Accounting and Financial Statements

Money and the Financial System

Financial Management and Securities Markets

Filters

Exam 3: Business in a Borderless World

What are the different international barriers to trade? Give an example of each one.

A corporation that operates in several countries but without significant ties to any of them is a(n)

What is the International Monetary Fund (IMF)and what does it do?

To facilitate free trade among members,the European Union is working toward all of the following except

All multinationals are U.S.firms.

Standardizing products for the whole world as if it were a single entity is a characteristic of which strategy?

Which trade alliance/agreement permits businesses to participate in a wide range of its activities?

A strategic alliance is a partnership formed to create competitive advantage on a worldwide basis.

Licensing is a way of entering the international marketplace without spending large amounts of money abroad.

Trading companies offer all of the following services except

In international trade,what is the difference between an absolute advantage and a comparative advantage?

Many businesspeople today try to "think locally,act globally."

International business involves the buying,selling,and trading of goods and services across national boundaries.

Customizing products,promotion,and distribution according to cultural,technological,and national differences indicates a

Which of the following is formally called the International Bank for Reconstruction and Development?

Which of the following makes short-term loans to member countries with trade deficits and provides foreign currencies to member nations?

Even when products are standardized,_____ often has to be modified internationally.

An intermediary,or middleman,that markets goods in another country is acting as a(n)

Because Colombia can produce coffee so much more efficiently than other items produced there,it has which of the following advantages?

Explain the different levels of organizational involvement in international trade.

The Dynamics of Business and Economics

Business Ethics and Social Responsibility

Options for Organizing Business

Small Business, entrepreneurship, and Franchising

The Nature of Management

Organization, teamwork, and Communication

Managing Service and Manufacturing Operations

Motivating the Workforce

Managing Human Resources

Customer-Driven Marketing

Dimensions of Marketing Strategy

Digital Marketing and Social Networking

Accounting and Financial Statements

Money and the Financial System

Financial Management and Securities Markets

Filters