A Quiz About The Global Business Environment

22 Questions | Total Attempts: 1135

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Business Environment Quizzes & Trivia

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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