A Quiz About The Global Business Environment
22 Questions
| Total Attempts: 1135
Questions and Answers
- 1.International companies face several challenges because of each country’s uniqueness: Laws, customs, consumer preferences, ethical standards, labor skills, political and economic stability, volatile currencies, and international trade relationships.
- A.
True
- B.
False
- 2.All U.S. companies doing international business must comply with the 1978 Foreign Corrupt Protection Act that prohibits any __________ to government officials abroad In addition,.
- 3.In most cases the opportunities of the global marketplace greatly outweigh the risks.
- A.
True
- B.
False
- 4.Some of the ways to handle cultural differences: (mark all that apply)
- A.
Adapt your products
- B.
Deal with the individual
- C.
Offer bribes to officials
- D.
Show respect
- 5.The buying of goods or services from a supplier in another country:
- A.
Exporting
- B.
Importing
- C.
Trafficing
- 6.The selling of products outside the country in which they are produced.
- A.
Exporting
- B.
Importing
- C.
Trafficing
- 7.An export trading company is a firm that specialize in performing international marketing services.
- A.
True
- B.
False
- 8._______________ __________________ entitle one company to use some or all of another firm’s intellectual property (patents, trademarks, brand names, copyrights, or trade secrets) in return for a royalty payment.
- 9.A ________________ enters into an agreement whereby the franchisee obtains the rights to duplicate a specific product or service e.g. KFC or McDonald’s.
- A.
Exporter
- B.
Franchiser
- C.
Importer
- 10.A long–term partnership between two or more companies to jointly develop, produce, or sell products in the global marketplace:
- A.
International Strategic Alliance
- B.
Franchise
- C.
Joint venture
- D.
Export management company
- 11.One reason why Nations trade is that no single country produces everything its citizens need.
- A.
True
- B.
False
- 12.________________ ___________________when a nation can produce a particular item more efficiently than all other nations, or it’s the only country producing that product.
- 13._______________ _________________ _________________is how a country chooses which items to produce and which items to trade for. This theory states that a country should sell to other countries those items it produces more efficiently, and it should trade for those it can't produce as economically.
- 14.Balance of trade means:
- A.
Total value of a country's exports minus the total value of imports
- B.
Total flow of money into the country minus the total flow of money out of the country
- C.
Unfavorable trade balance.
- 15.________________ ___________________ favorable trade balance created when a country exports more than it imports.
- 16._____________ _________________ unfavorable trade balance created when a country imports more than it exports.
- 17.Government policies aimed at shielding a countries industries from foreign competitors.
- 18.________ taxes, surcharges, or duties levied against imported goods.
- 19.________________ fixed limits on the quantity of imports a nation will allow for a specific product.
- 20._______ total ban on trade with a particular nation or of a particular product.
- 21.Unloading is the practice of selling large quantities of a product at a price lower than the cost of production.
- A.
True
- B.
False
- 22.____________ _________________ - the rate at which the money of one country is traded for the money of another.
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