Business Quiz: Managing In A Global Environment Test

33 Questions | Total Attempts: 80

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Business Management Quizzes & Trivia

When it comes to having a business, managing in a global environment is not easy; there are some things about the economy you need to conversant with, this includes the laws governing trade within different countries. So, what do you understand by this? Or how much do you know about this? Well, take the test below and find out.


Questions and Answers
  • 1. 
    ----------------------- (E): Selling abroad, either directly to target customers or indirectly by retaining foreign sales agents and distributors.
  • 2. 
    --------------------- (L): an arrangement whereby a firm (the licensor) grants a foreign firm the right to use intangible property.
  • 3. 
    -------------------- (F): The granting of a right by a parent company to another firm to do business in a prescribed manner.
  • 4. 
    --------------------- (FDI): Operations in one country controlled by entities in a foreign country.
  • 5. 
    ---------------------- (SA): An agreement between potential or actual competitors to achieve common objectives.
  • 6. 
    ------------------------ (JV): The participation of two or more companies in an enterprise such that each party contributes assets, owns the entity to some degree, and shares risk.
  • 7. 
    ------------------------- (WOS): a firm that is owned 100% by a foreign firm.
  • 8. 
    ---------------------- (IT): The export or import of goods or services to consumers in another country.
  • 9. 
    ------------------------- (IB): Any firm that engages in international trade or investment; also refers to business activities that involve the movement of resources, goods, services, and skills across national boundaries.
  • 10. 
    ----------------------- (IM): The performance of the management process across national boundaries.
  • 11. 
    --------------------- (MNC): A company that operates manufacturing and marketing facilities in two or more countries: managers of the parent firm, whose owners are mostly in the firm's home country, coordinate the MNCs operation.
  • 12. 
    -------------------- (ME): Supply and demand determine what is produced, in what quantities and at what prices.
  • 13. 
    --------------------- (CE): Yearly targets on five-year plans with specific production goals are set by the government which also sets prices for each sector of the economy.
  • 14. 
    ------------------------ (ME): Some sectors are left to private ownership and free market mechanisms, while others are largely owned and managed by the government.
  • 15. 
    --------------------- (ED): A measure of the how extensively the industrial infrastructure is developed for a given country.
  • 16. 
    ------------------------- (GDP): The market value of all goods and services that have been bought for final use during a period of time, and, therefore, is the basic measure of a nation's economic activity.
  • 17. 
    ------------------------- (ER): The rate at which one country's currency can be exchanged for another country's currency.
  • 18. 
    --------------------- (TB): A governmental influence that is usually aimed at reducing the competitiveness of imported products or services.
  • 19. 
    ---------------------- (T): A government tax on imports.
  • 20. 
    ---------------- (Q): A legal restriction on the import of particular goods.
  • 21. 
    --------------------- (FT): All trade barriers among participating countries are removed, so there is an unrestricted exchange of goods among these countries.
  • 22. 
    ----------------------- (EI): The result of two or more nations minimizing trade restrictions to obtain the advantages of free trade.
  • 23. 
    -------------------- (FTA): A type of economic integration in which all barriers to trade among members are removed.
  • 24. 
    ----------------------- (CU): A situation in which trade barriers among members are removed and a common trade policy exists with respect to nonmembers.
  • 25. 
    --------------------------- (CM): A system in which no barriers to trade exist among member countries, and a common external trade policy is in force that governs trade wiht nonmembers.