Exam 11: Creating Products and Pricing Strategies to Meet Customers Needs

The attitude that one's own culture is superior to all others is called __________.

A trade __________ occurs when the value of the country's imports exceeds that of its exports.

The __________ includes tariff costs for every product from every country.

A trade __________ occurs when the value of the country's exports exceeds that of its imports.

Two key indicators of the effectiveness of global trade are:

When a host government takes over a foreign subsidiary in a country it is called expropriation.

__________ is the practice of selling products in a foreign country at lower prices than those charged in the producing country.

Global trade is the exchange of goods and services across national borders.

Over __________ percent of the exporters in the U.S.are small and medium-size businesses.

One objective of NAFTA is to promote conditions of fair competition between Canada,the U.S.and Mexico.

Ethnocentricity is an attitude that one's own culture is superior to all others.

Keiretsu are "corporate families" in Japan.

The EU began as an alliance of six trading partners in the late 1950s and by 2007 had grown to a group of 27 countries,with several more poised to join.

Licensing refers to selling the right to manufacture a product or use a trademark to a foreign company for a fee.

A company that develops a product concept and sells other the rights to make and sell the product is called a(n):

Which of the following is the organization that works collectively for oil interests?

Joint ventures can be mandated by governments as a condition of doing business in their country.

Global business is the study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals.

Countertrading is a complex form of bartering,which occurs between two people in the same country.

The U.S.is the world's largest exporting nation.