Symvoulous || Round I
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Which of these factors did not affect the trade balance of a company during the medieval period to increase the nation’s wealth?
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Change in Government regulations
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Limiting imports and maximising exports
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Change in rule
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Implementation of laissez faire economics
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About This Quiz
Explore key economic concepts and strategies affecting global trade and innovation. Dive into theories by Friedman and others, analyzing factors like trade balance and technological connectivity.
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- 2.
Which of the following statements is/are true?i) Countries produce and export goods that require resources (factors) in abundanceii) Import goods that require resources in long term supply
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Both i & ii
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Only ii
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Only ii is true & i is false
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Only i is true & ii is false
Correct Answer
A. Only i is true & ii is falseExplanation
This answer states that only statement i is true and statement ii is false. According to statement i, countries produce and export goods that require resources in abundance, which means they specialize in producing goods that they have an abundance of resources for. This is a common practice in international trade. However, statement ii states that countries import goods that require resources in long term supply, which is not necessarily true. Countries may import goods that they do not have the resources for, but this does not mean that the resources required for those goods are in long term supply. Therefore, statement ii is false.Rate this question:
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- 3.
Which of the following is true regarding an Industry’s capacity to innovate and upgrade?
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Industries related to the product affect other supporting industry
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Demand conditions of the industry
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Economic and strategic advantage of being first to enter an industry
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Competitor’s strategy and firm’s strategy
Correct Answer
A. Competitor’s strategy and firm’s strategyExplanation
Competitor's strategy and firm's strategy are true regarding an industry's capacity to innovate and upgrade. This means that the strategies implemented by both the competitors and the firm itself play a crucial role in driving innovation and upgrading within the industry. These strategies may involve adopting new technologies, improving product offerings, enhancing operational efficiency, or exploring new markets. By constantly monitoring and responding to the strategies of competitors and formulating effective strategies internally, an industry can stay competitive and drive innovation and upgrades to meet evolving market demands.Rate this question:
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- 4.
Which one of the following determines Friedman’s flatteners?
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Offshoring
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Delocation of strategy
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Insourcing
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Informing
Correct Answer
A. Delocation of strategyExplanation
Friedman's flatteners refer to the factors that have contributed to the globalization and flattening of the world. Delocation of strategy, which involves companies shifting their operations and strategies to different locations around the world, is one of these factors. It represents the idea that companies are no longer confined to a single location and can strategically move their activities to different parts of the world to take advantage of various resources and markets. This process has been facilitated by advancements in technology and communication, enabling companies to operate globally and compete on a larger scale.Rate this question:
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- 5.
Which one of the following indices do these factors determine?a) Technological Connectivityb) Political Engagementc) Personal Contactd) Economic Integration
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A.T. Kearney index
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KOF Index
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CPI
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Human Development Index
Correct Answer
A. A.T. Kearney indexExplanation
The factors mentioned, such as technological connectivity, political engagement, personal contact, and economic integration, are used to determine the A.T. Kearney index. This index is a measure of a country's attractiveness for foreign direct investment (FDI) and evaluates various factors that contribute to a favorable investment environment. Therefore, the factors listed are used to assess a country's technological connectivity, political engagement, personal contact, and economic integration, which ultimately determine its ranking on the A.T. Kearney index.Rate this question:
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- 6.
Who gave the theory of triple convergence?
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Michael Porter
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Thomas Friedman
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Zurich
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Hoku
Correct Answer
A. Thomas FriedmanExplanation
Thomas Friedman is the correct answer because he is the author of the book "The World is Flat," in which he introduced the theory of triple convergence. This theory explains how globalization, technology, and the empowerment of individuals have converged to create a level playing field in the global economy. Friedman argues that these convergences have led to increased competition, innovation, and opportunities for individuals and businesses around the world.Rate this question:
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- 7.
Which of these statements is/are true regarding TRIPS?i) The most developed countries are allowed a longer transition period in which to comply with the provisions of the agreementii) Agreement on trade has great implications for the production of and access to drugs, especially in developing countries
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Only i
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Only ii
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Both i & ii
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Neither i nor ii
Correct Answer
A. Only iiExplanation
The correct answer is "Only ii." This means that statement ii) is true regarding TRIPS. The Agreement on trade has significant implications for the production of and access to drugs, particularly in developing countries. Statement i) is not true because the most developed countries are not allowed a longer transition period to comply with the provisions of the agreement.Rate this question:
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- 8.
Which among the following will not take care of the purchasing decisions of a company?
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Influencers
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Followers
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Gatekeepers
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Initiators
Correct Answer
A. FollowersExplanation
Followers will not take care of the purchasing decisions of a company. Followers are individuals who observe and imitate the actions of influencers or other individuals within a social network. They do not have the authority or responsibility to make purchasing decisions on behalf of a company. Influencers, gatekeepers, and initiators, on the other hand, play active roles in the purchasing decision-making process and have the ability to influence or make decisions regarding purchases.Rate this question:
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- 9.
Which of the following is not a criteria for shelf registration by companies?
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The company should not have defaulted on its debt for the past three years
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The firm must not have violated the Securities Exchange Act of 1934 in the past three years
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The company must not be rated investment grade
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The aggregate market value of the firm’s outstanding stock must be more than $150 million
Correct Answer
A. The company must not be rated investment gradeExplanation
The criteria for shelf registration by companies include not having defaulted on debt for the past three years, not having violated the Securities Exchange Act of 1934 in the past three years, and having an aggregate market value of outstanding stock of more than $150 million. However, being rated investment grade is not a criteria for shelf registration.Rate this question:
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- 10.
Which of the following factors does not affect the strategy process of a firm that is going international?
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Geographic areas
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Alliances & Acquisitions
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Price to be charged & cost of production
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No sequence of entry tactics
Correct Answer
A. No sequence of entry tacticsExplanation
The strategy process of a firm that is going international is influenced by various factors such as geographic areas, alliances & acquisitions, and the price to be charged & cost of production. However, the absence of a sequence of entry tactics does not affect the strategy process. This means that the firm can choose to enter different markets in any order without it impacting the overall strategy.Rate this question:
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- 11.
Which of the following is not a risk for internationalization of a company?
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Price of the product in the national market
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Exchange rate fluctuations
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Lack of governmental assistance in overcoming export barriers
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Difficulties in finding the right distributor
Correct Answer
A. Price of the product in the national marketExplanation
The price of the product in the national market is not a risk for internationalization of a company because it is a factor that can be controlled and adjusted by the company. When a company decides to expand internationally, they can set the price of their product in the international market based on factors such as production costs, competition, and target market demand. Therefore, the price of the product in the national market does not pose a risk to the internationalization process.Rate this question:
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- 12.
Which of these is not a phase in evolution of formal strategic planning?
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Financial Planning
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Forecast planning
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Strategic management
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Internally oriented planning
Correct Answer
A. Internally oriented planningExplanation
Internally oriented planning is not a phase in the evolution of formal strategic planning. The other options, financial planning, forecast planning, and strategic management, are all recognized phases in the evolution of formal strategic planning. Internally oriented planning refers to the process of focusing on internal factors and resources within an organization, rather than external factors and market dynamics. While it may be an important aspect of overall planning and decision-making within an organization, it is not specifically considered a phase in the evolution of formal strategic planning.Rate this question:
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- 13.
Which of the following is not a Hofstede’s dimension?
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Power distance
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Uncertainty avoidance
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Individualism and collectivism
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Social hierarchy
Correct Answer
A. Social hierarchyExplanation
Hofstede's dimensions are a framework used to understand cultural differences. They include power distance, uncertainty avoidance, and individualism and collectivism. However, "social hierarchy" is not one of Hofstede's dimensions. While social hierarchy can be related to power distance, it is not explicitly listed as a separate dimension in Hofstede's framework.Rate this question:
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- 14.
A. T. Kearney Index focuses on which aspect of economic integration?
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Free trade
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FDI
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Trade diversion
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Coherence of policies
Correct Answer
A. FDIExplanation
The A. T. Kearney Index focuses on the aspect of economic integration related to Foreign Direct Investment (FDI). This means that the index measures and evaluates the attractiveness of different countries for foreign investment, considering factors such as policies, regulations, and market conditions. The index provides insights into the level of FDI in different countries and helps investors make informed decisions regarding investment opportunities.Rate this question:
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- 15.
What are the risk management strategies while exporting to foreign markets?i) Exporting to high-risk marketsii) Diversify overseas marketsiii) Insure risks when possibleiv) Structure export business so that buyer bears most risk
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I and ii
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Ii and iii
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I, iii and iv
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Ii, iii and iv
Correct Answer
A. Ii, iii and ivExplanation
The correct answer is ii, iii and iv. Exporting to high-risk markets can be a risk management strategy as it allows the business to diversify its overseas markets, reducing the impact of any potential risks. Insuring risks when possible can also mitigate the financial impact of any unforeseen events. Structuring the export business so that the buyer bears most of the risk can further protect the business from potential losses. Therefore, implementing all three strategies (ii, iii, and iv) can help manage risks while exporting to foreign markets.Rate this question:
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- 16.
Nestle entered into a strategic alliance with which company for production of a cereal?
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Chromocell Corporation
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Coca cola
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General mills
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Yunnan Dashan Drinks Ltd
Correct Answer
A. General millsExplanation
Nestle entered into a strategic alliance with General Mills for the production of a cereal. This partnership allows Nestle to leverage General Mills' expertise in cereal production and distribution, while also expanding their product offerings in the cereal market. By collaborating with General Mills, Nestle can tap into their established network and resources to enhance their cereal production capabilities and reach a wider consumer base. This strategic alliance enables both companies to benefit from each other's strengths and create a mutually beneficial partnership in the cereal industry.Rate this question:
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- 17.
Which company in the business of electric scooters is planning to invest in green field projects in India in 2015?
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Honda
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TII
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Electrotherm (India) Ltd
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Eko vehicles
Correct Answer
A. TIIExplanation
TII, also known as Tube Investments of India, is the correct answer. The question is asking which company is planning to invest in green field projects in India in 2015. TII is a company that is involved in the business of electric scooters and has expressed its intention to invest in green field projects in India in 2015.Rate this question:
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- 18.
Which company was responsible for the colony collapse disorder across Europe and North America in 2006-2007?
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Agrichem Limited
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Suterra
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Auxein Corporation
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Bayer Corp Science
Correct Answer
A. Auxein CorporationExplanation
The Auxein Corporation was responsible for the colony collapse disorder across Europe and North America in 2006-2007.Rate this question:
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- 19.
Which Norwegian food major acquired an Indian foods company in 2007 and followed its multilocal model which ultimately lead to exponential growth of the Indian foods company?
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Nortura
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Isklar
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SalMar
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Orkla Group
Correct Answer
A. Orkla GroupExplanation
In 2007, Orkla Group, a Norwegian food major, acquired an Indian foods company and implemented its multilocal model. This strategy resulted in the exponential growth of the Indian foods company.Rate this question:
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- 20.
Employees born and raised in a country in which a Multinational firm seeks to locate or has already located a facility are called?
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Parent-country nationals
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Host-country nationals
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Third-country nationals
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None of the above
Correct Answer
A. Host-country nationalsExplanation
Host-country nationals are employees who are born and raised in the country where a multinational firm seeks to locate or has already located a facility. These individuals have a deep understanding of the local culture, language, and business practices, which can be advantageous for the company's operations in that specific country. They are often hired to fill positions that require local knowledge and expertise. Parent-country nationals, on the other hand, are employees from the company's home country, while third-country nationals are individuals from neither the home country nor the host country.Rate this question:
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- 21.
According to Thomas L. Friedman what phase of globalization are we currently going through at present?
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Globalization of countries
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Globalization of individuals
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Globalization of companies
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Globalization of markets
Correct Answer
A. Globalization of individualsExplanation
According to Thomas L. Friedman, we are currently going through the phase of globalization of individuals. This means that individuals are becoming more interconnected and interdependent across borders, thanks to advancements in technology and communication. People are now able to connect, collaborate, and share information on a global scale, leading to increased cultural exchange, economic opportunities, and social interactions. This phase emphasizes the empowerment and integration of individuals in the global economy and society.Rate this question:
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- 22.
Which country is highest on economic integration according to A.T Kearney Index?
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Netherland
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Ireland
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Singapore
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Sweden
Correct Answer
A. SingaporeExplanation
Singapore is the correct answer because according to the A.T. Kearney Index, it is ranked highest on economic integration. This means that Singapore has a high level of interconnectedness and integration with the global economy, including factors such as trade, investment, and financial flows. Singapore's strategic location, well-developed infrastructure, and business-friendly policies have contributed to its strong economic integration and attractiveness as a global hub for trade and investment.Rate this question:
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- 23.
Which agreement is responsible for enforcing international patents?
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TRIMS
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GATT
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TRIPS
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GATS
Correct Answer
A. TRIPSExplanation
TRIPS stands for Trade-Related Aspects of Intellectual Property Rights. It is an agreement that is responsible for enforcing international patents. TRIPS sets out minimum standards for protecting and enforcing intellectual property rights, including patents, on a global scale. It provides a framework for member countries to establish effective and balanced intellectual property systems, ensuring that patents are respected and enforced internationally.Rate this question:
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- 24.
Which of the following blocs or countries is involved in bilateral trade agreements with India?I SAFTAII CARICOMIII AIFTAIV El Salvador
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I and II
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I and III
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II and IV
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III and IV
Correct Answer
A. I and IIIExplanation
India is involved in bilateral trade agreements with SAFTA (South Asian Free Trade Area) and AIFTA (ASEAN-India Free Trade Agreement). SAFTA is a trade agreement between the South Asian countries, including India, aimed at promoting economic cooperation and reducing trade barriers. AIFTA is a trade agreement between India and ASEAN (Association of Southeast Asian Nations) countries, aiming to enhance trade and investment between the regions. Therefore, the correct answer is I and III.Rate this question:
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Current Version
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May 08, 2023Quiz Edited by
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Sep 20, 2015Quiz Created by
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