A Quiz About The Global Business Environment

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Questions: 22 | Attempts: 1,938 | Updated: Mar 22, 2023

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Mar 22, 2023

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Dec 04, 2011

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A Quiz About The Global Business Environment

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.

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,.

In most cases the opportunities of the global marketplace greatly outweigh the risks.

Some of the ways to handle cultural differences: (mark all that apply)

The buying of goods or services from a supplier in another country:

The selling of products outside the country in which they are produced.

An export trading company is a firm that specialize in performing international marketing services.

_ ____ 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.

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 long–term partnership between two or more companies to jointly develop, produce, or sell products in the global marketplace:

One reason why Nations trade is that no single country produces everything its citizens need.

___when a nation can produce a particular item more efficiently than all other nations, or it’s the only country producing that product.

_______ _ _________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.

Balance of trade means:

___ favorable trade balance created when a country exports more than it imports.

_ _____ unfavorable trade balance created when a country imports more than it exports.

Government policies aimed at shielding a countries industries from foreign competitors.

________ taxes, surcharges, or duties levied against imported goods.

________________ fixed limits on the quantity of imports a nation will allow for a specific product.

_______ total ban on trade with a particular nation or of a particular product.

Unloading is the practice of selling large quantities of a product at a price lower than the cost of production.

_____ - the rate at which the money of one country is traded for the money of another.

A Quiz About The Global Business Environment

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.

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,.

In most cases the opportunities of the global marketplace greatly outweigh the risks.

Some of the ways to handle cultural differences: (mark all that apply)

The buying of goods or services from a supplier in another country:

The selling of products outside the country in which they are produced.

An export trading company is a firm that specialize in performing international marketing services.

_______________ __________________ 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.

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 long–term partnership between two or more companies to jointly develop, produce, or sell products in the global marketplace:

One reason why Nations trade is that no single country produces everything its citizens need.

________________ ___________________when a nation can produce a particular item more efficiently than all other nations, or it’s the only country producing that product.

_______________ _________________ _________________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.

Balance of trade means:

________________ ___________________ favorable trade balance created when a country exports more than it imports.

_____________ _________________ unfavorable trade balance created when a country imports more than it exports.

Government policies aimed at shielding a countries industries from foreign competitors.

________ taxes, surcharges, or duties levied against imported goods.

________________ fixed limits on the quantity of imports a nation will allow for a specific product.

_______ total ban on trade with a particular nation or of a particular product.

Unloading is the practice of selling large quantities of a product at a price lower than the cost of production.

____________ _________________ - the rate at which the money of one country is traded for the money of another.

_ ____ 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.

___when a nation can produce a particular item more efficiently than all other nations, or it’s the only country producing that product.

_______ _ _________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.

___ favorable trade balance created when a country exports more than it imports.

_ _____ unfavorable trade balance created when a country imports more than it exports.

_____ - the rate at which the money of one country is traded for the money of another.