Question 1

Which of the following correctly defines the role of an export broker?

Accepted Answer

A)   An export broker is an intermediary who plays the traditional broker's role by bringing buyer and seller together.
B)   An export broker is an intermediary who acts like a manufacturer's agent for the exporter; the export agent lives in the foreign market.
C)   An export broker is an intermediary in the global market that assumes all ownership risks and sells globally for its own account.
D)   An export broker is an intermediary who sells domestically produced products to buyers in other countries.E) A) and C)
F) C) and D)

Question 2

Which of the following is a tool that governments use to exclude companies from countries with which they have a political dispute?

Accepted Answer

A)   Exchange control
B)   Market grouping
C)   Boycott
D)   TariffE) A) and B)
F) A) and C)

Question 3

Which of the following indicates a benefit of outsourcing?

Accepted Answer

A)   Increased corporate growth
B)   Chances of increased production delays
C)   Rising wages in the developing world
D)   Decreases efficiencyE) B) and D)
F) None of the above

Question 4

Which of the following refers to the total market value of all final goods and services produced in a country during a given time period?

Accepted Answer

A)   Gross domestic product
B)   Intermediate product
C)   Final product
D)   International commerceE) All of the above
F) None of the above

Question 5

Companies at the fourth stage of developing their global business:

Accepted Answer

A)   set up foreign subsidiaries to handle sales in one country.
B)   operate in one country and sell into others.
C)   operate an entire line of business in another country.
D)   have their top executives and core corporate functions located in different countries.E) A) and B)
F) None of the above

Question 6

Which of the following statements is true of third-stage multinational companies?

Accepted Answer

A)   They sell products only in one country.
B)   Their top executives and core corporate functions are in different countries.
C)   They operate an entire line of business in another country.
D)   They set up foreign subsidiaries to handle sales in one country.E) B) and D)
F) None of the above

Question 7

Opening an e-commerce site on the Internet makes it difficult for a company to gain profit in the international marketplace.

Accepted Answer

A) True 
 B)False

Question 8

A(n) _____ is an intermediary who brings a buyer and a seller together.

Accepted Answer

A)   licensor
B)   export broker
C)   contract manufacturer
D)   export merchantE) A) and D)
F) A) and C)

Question 9

Maria Apparel is a well-known apparel store.The owners of the store want the store to go global; hence,they have opened a website.In this scenario,doing business online:

Accepted Answer

A)   makes it difficult for Maria Apparel to access customers through the Internet.
B)   frees Maria Apparel from old brick-and-mortar rules,regulations,and habits.
C)   immediately puts Maria Apparel in the international marketplace.
D)   stops Maria Apparel from selling products in its physical stores.E) C) and D)
F) B) and C)

Question 10

Which statement correctly states the relationship between a country's political structure and actions and businesses?

Accepted Answer

A)   Regulation does not burden businesses or make it difficult for them operate.
B)   International politics rarely affect business laws.
C)   Government-owned industries and centralized planning tend to decrease as rights of private property increase.
D)   Regulations do not help businesses grow and prosper.E) A) and C)
F) B) and C)

Question 11

Generally,complex and sophisticated industries are found in developed countries,and more basic industries are found in less developed nations.

Accepted Answer

A) True 
 B)False

Question 12

GE has been in the news lately for _____,or bringing back the production of GE appliances to its Louisville,Kentucky plant from China.

Accepted Answer

A)   inshoring
B)   offshoring
C)   insourcing
D)   importingE) B) and D)
F) B) and C)

Question 13

Marketing that aims at markets across the world is called _________.

Accepted Answer

A)   global marketing
B)   outsourcing
C)   inshoring
D)   regional marketingE) A) and B)
F) A) and D)

Question 14

Which of the following is a similarity between joint ventures and licensing agreements?

Accepted Answer

A)   Both involve joining with a foreign company to create a new entity.
B)   Both depend heavily on contract manufacturing.
C)   Both are free from government interference.
D)   Both are free from risks.E) None of the above
F) All of the above

Question 15

Which of the following is NOT true about culture from the perspective of a global marketer?

Accepted Answer

A)   Culture underlies the family,the educational system,religion,and the social class system.
B)   A company that does not understand a country's culture may try other means to succeed in the country.
C)   Cultural blunders lead to misunderstandings and often perceptions of rudeness or even incompetence.
D)   Culture is the common set of values shared by its citizens that determines what is socially acceptable.E) A) and D)
F) B) and D)

Question 16

How is a marketing mix relevant for firms entering the global market,and what are the steps to creating that successful marketing mix?

Accepted Answer

Answers will vary.To succeed,firms seeki...

Question 17

A company that is heavily engaged in global trade,beyond exporting and importing,is called ___________.

Accepted Answer

A)   a regional firm
B)   a multinational corporation
C)   a capital intensive firm
D)   an export agentE) All of the above
F) A) and B)

Question 18

Discuss the impact of international trade on the United States.

Accepted Answer

Answers will vary.Although some countrie...

Question 19

Which of the following refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currency?

Accepted Answer

A)   Floating exchange rates
B)   Dumping
C)   Countertrade
D)   Trade exchangeE) A) and B)
F) None of the above

Question 20

Discuss the most common legal structures that affect international trade.

Accepted Answer

Answers will vary. Many legal structures...

Exam 5: Developing a Global Vision

Discuss the most common legal structures that affect international trade.

Correct AnswerverifiedAnswers will vary. Many legal structures...View AnswerShow Answer

Which of the following is a similarity between joint ventures and licensing agreements?

Correct AnswerverifiedShow Answer

Discuss the impact of international trade on the United States.

Correct AnswerverifiedAnswers will vary.Although some countrie...View AnswerShow Answer

Which of the following refers to the total market value of all final goods and services produced in a country during a given time period?

Correct AnswerverifiedShow Answer

Which of the following statements is true of third-stage multinational companies?

Correct AnswerverifiedShow Answer

Which of the following indicates a benefit of outsourcing?

Correct AnswerverifiedShow Answer

Which of the following correctly defines the role of an export broker?

Correct AnswerverifiedShow Answer

Which statement correctly states the relationship between a country's political structure and actions and businesses?

Correct AnswerverifiedShow Answer

A(n) _____ is an intermediary who brings a buyer and a seller together.

Correct AnswerverifiedShow Answer

Which of the following is a tool that governments use to exclude companies from countries with which they have a political dispute?

Correct AnswerverifiedShow Answer

A company that is heavily engaged in global trade,beyond exporting and importing,is called ___________.

Correct AnswerverifiedShow Answer

GE has been in the news lately for _____,or bringing back the production of GE appliances to its Louisville,Kentucky plant from China.

Correct AnswerverifiedShow Answer

Marketing that aims at markets across the world is called _________.

Correct AnswerverifiedShow Answer

Companies at the fourth stage of developing their global business:

Correct AnswerverifiedShow Answer

How is a marketing mix relevant for firms entering the global market,and what are the steps to creating that successful marketing mix?

Correct AnswerverifiedAnswers will vary.To succeed,firms seeki...View AnswerShow Answer

Maria Apparel is a well-known apparel store.The owners of the store want the store to go global; hence,they have opened a website.In this scenario,doing business online:

Correct AnswerverifiedShow Answer

Which of the following is NOT true about culture from the perspective of a global marketer?

Correct AnswerverifiedShow Answer

Which of the following refers to a system in which prices of different currencies move up and down based on the demand for and the supply of each currency?

Correct AnswerverifiedShow Answer

Generally,complex and sophisticated industries are found in developed countries,and more basic industries are found in less developed nations.

Correct AnswerverifiedShow Answer

Opening an e-commerce site on the Internet makes it difficult for a company to gain profit in the international marketplace.

Correct AnswerverifiedShow Answer

Correct Answer
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Answers will vary. Many legal structures...
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Answers will vary.Although some countrie...
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Answers will vary.To succeed,firms seeki...
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