Question 1

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

Accepted Answer

A) True 
 B)False

Question 2

A trade advantage with the best chance of surviving is one based on

Accepted Answer

A)  worker knowledge. 
B)  technology. 
C)  a monopoly of a resource. 
D)  production efficiency. 
E)  lack of a resource. 
A)  worker knowledge. 
B)  technology. 
C)  a monopoly of a resource. 
D)  production efficiency. 
E)  lack of a resource.

Question 3

What does the WTO stand for and what does it do?

Accepted Answer

WTO stands for the World Trade Organizat

Question 4

Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods.

Accepted Answer

A) True 
 B)False

Question 5

When a firm's products are standardized in all countries,

Accepted Answer

A)  advertising cannot be used. 
B)  only publicity can be used for promotion. 
C)  different ads are illegal. 
D)  distribution is more expensive. 
E)  advertising may have to be modified. 
A)  advertising cannot be used. 
B)  only publicity can be used for promotion. 
C)  different ads are illegal. 
D)  distribution is more expensive. 
E)  advertising may have to be modified.

Question 6

More companies are moving away from a _______ strategy to globalization.

Accepted Answer

A)  personalization 
B)  customization 
C)  standardization 
D)  tailored 
E)  individualized 
A)  personalization 
B)  customization 
C)  standardization 
D)  tailored 
E)  individualized

Question 7

Coca-Cola allows a Mexican firm to use its name,formula,and brands in return for a royalty.This arrangement is known as

Accepted Answer

A)  exporting. 
B)  licensing. 
C)  direct investment. 
D)  contract manufacturing. 
E)  a joint venture. 
A)  exporting. 
B)  licensing. 
C)  direct investment. 
D)  contract manufacturing. 
E)  a joint venture.

Question 8

When Nike has its athletic shoes produced by companies in Asia,the Nike name still appears on the shoes.This illustrates

Accepted Answer

A)  contract manufacturing. 
B)  licensing. 
C)  direct investment. 
D)  exporting. 
E)  importing. 
A)  contract manufacturing. 
B)  licensing. 
C)  direct investment. 
D)  exporting. 
E)  importing.

Question 9

A favorable balance of trade exists when a country

Accepted Answer

A)  imports more than it exports. 
B)  exports more than it imports. 
C)  sends out more cash than it takes in. 
D)  spends more than it saves. 
E)  saves more than it spends. 
A)  imports more than it exports. 
B)  exports more than it imports. 
C)  sends out more cash than it takes in. 
D)  spends more than it saves. 
E)  saves more than it spends.

Question 10

The Association of Southeast Asian Nations (ASEAN)effectively united Singapore,Britain,and Japan into one market.

Accepted Answer

A) True 
 B)False

Question 11

Sociocultural differences,such as variations in spoken language and body language,have no impact on international business.

Accepted Answer

A) True 
 B)False

Question 12

Companies should conduct environmental analyses before beginning to do business internationally in order to evaluate potential for problems associated with different markets and to develop a _______ for those markets.

Accepted Answer

A)  SWOT matrix 
B)  plan 
C)  strategy 
D)  market 
E)  product 
A)  SWOT matrix 
B)  plan 
C)  strategy 
D)  market 
E)  product

Question 13

Companies doing business internationally have traditionally used a globalization strategy.

Accepted Answer

A) True 
 B)False

Question 14

Nations trade with other nations to obtain resources that would otherwise be unavailable to them.

Accepted Answer

A) True 
 B)False

Question 15

What cultural issues should a manager consider before doing business in a foreign country?

Accepted Answer

It is important for the manager to under

Question 16

Because it virtually controls the world's deposits of gem-quality diamonds,DeBeers Consolidated Mines,Ltd.has a(n)

Accepted Answer

A)  absolute advantage. 
B)  comparative advantage. 
C)  advantage based on efficient production. 
D)  trade deficit. 
E)  balance of payment. 
A)  absolute advantage. 
B)  comparative advantage. 
C)  advantage based on efficient production. 
D)  trade deficit. 
E)  balance of payment.

Question 17

What are some of the unique problems that a small business might face in global expansion that larger firms would not?

Accepted Answer

Smaller firms are more likely to find th

Question 18

What does Audiotech electronics produce?

Accepted Answer

A)  Car stereos 
B)  Widgets 
C)  Control consoles 
D)  Surround sound systems 
E)  Smartphones 
A)  Car stereos 
B)  Widgets 
C)  Control consoles 
D)  Surround sound systems 
E)  Smartphones

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Should Audiotech consider a joint venture? Should it hire a sales force of people native to the countries it enters?

Accepted Answer

A joint venture would enable Audiotech t

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

A trade advantage with the best chance of surviving is one based on

What does the WTO stand for and what does it do?

Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods.

When a firm's products are standardized in all countries,

More companies are moving away from a _______ strategy to globalization.

Coca-Cola allows a Mexican firm to use its name,formula,and brands in return for a royalty.This arrangement is known as

When Nike has its athletic shoes produced by companies in Asia,the Nike name still appears on the shoes.This illustrates

A favorable balance of trade exists when a country

The Association of Southeast Asian Nations (ASEAN)effectively united Singapore,Britain,and Japan into one market.

Sociocultural differences,such as variations in spoken language and body language,have no impact on international business.

Companies should conduct environmental analyses before beginning to do business internationally in order to evaluate potential for problems associated with different markets and to develop a _______ for those markets.

Companies doing business internationally have traditionally used a globalization strategy.

Nations trade with other nations to obtain resources that would otherwise be unavailable to them.

What cultural issues should a manager consider before doing business in a foreign country?

Because it virtually controls the world's deposits of gem-quality diamonds,DeBeers Consolidated Mines,Ltd.has a(n)

What are some of the unique problems that a small business might face in global expansion that larger firms would not?

What does Audiotech electronics produce?

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

Should Audiotech consider a joint venture? Should it hire a sales force of people native to the countries it enters?

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

A multinational strategy involves customizing products,promotion,and distribution according to cultural,technological,regional,and national differences.

A trade advantage with the best chance of surviving is one based on

What does the WTO stand for and what does it do?

Protective tariffs raise the price of foreign goods to allow competition with more expensive domestic goods.

When a firm's products are standardized in all countries,

More companies are moving away from a _______ strategy to globalization.

Coca-Cola allows a Mexican firm to use its name,formula,and brands in return for a royalty.This arrangement is known as

When Nike has its athletic shoes produced by companies in Asia,the Nike name still appears on the shoes.This illustrates

A favorable balance of trade exists when a country

The Association of Southeast Asian Nations (ASEAN)effectively united Singapore,Britain,and Japan into one market.

Sociocultural differences,such as variations in spoken language and body language,have no impact on international business.

Companies should conduct environmental analyses before beginning to do business internationally in order to evaluate potential for problems associated with different markets and to develop a _______ for those markets.

Companies doing business internationally have traditionally used a globalization strategy.

Nations trade with other nations to obtain resources that would otherwise be unavailable to them.

What cultural issues should a manager consider before doing business in a foreign country?

Because it virtually controls the world's deposits of gem-quality diamonds,DeBeers Consolidated Mines,Ltd.has a(n)

What are some of the unique problems that a small business might face in global expansion that larger firms would not?

What does Audiotech electronics produce?

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

Should Audiotech consider a joint venture? Should it hire a sales force of people native to the countries it enters?

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