GB 350 EXAM 2 CASCIO EXAM
QUESTIONS AND ANSWERS
Global vision - Correct Answers -recognizing and reacting to international marketing
opportunities
Gross domestic product - Correct Answers -the total market value of all final goods and
services produced in a country for a given period
Top 5 import partners 2019 - Correct Answers -china
canada
mexico
japan
germany
Top 5 export partners 2019 - Correct Answers -mexico
canda
china
japan
germany
Culture - Correct Answers -"the collective programming of the mind distinguishing the
members of one group or category of people from others"
Ethnocentrism - Correct Answers -viewing outside others and their cultural traditions
through the lens of our own culture
Multinationals - Correct Answers -firms that engage in international trade beyond
exporting and importing
Tariff - Correct Answers -tax on particular class of product or service to protect domestic
competition
Absolute quota - Correct Answers -maximum number of products that can be imported
in a given time period
Tariff rate quota - Correct Answers -maximum number of products that can be imported
at a reduced tariff
Embargo - Correct Answers -ban on product/service trade activity with another country
, US economic factors and natural resources - Correct Answers -large land mass not
bordered by hostile governments
expansive coastline, farmland, water, coal, oil and gas, people
Five methods of entering the global marketplace - Correct Answers -exporting
licensing
contract manufacturing
joint venture
direct investment
Exporting - Correct Answers -offers the lowest risk primarily because the company does
not assume the cost of operating in another country
Licensing - Correct Answers -agreements that give people/organizations in other
countries the right to use a domestic companies resources to do business or operate
under a domestic business model
ex. Chick Fil A
Contract manufacturing - Correct Answers -involves outsourcing production of a
domestic product to an independent international business
ex. H&M
Joint ventures - Correct Answers -happen when organizations partner to form a new
business or one buys stake in the other
ex. Delta, KLM, Air France
Direct investments - Correct Answers -a domestic company's its up shop in an
International; market
ex. General Motors having 27 manufacturing plants in China
Dumping - Correct Answers -sale of an exported product at a lower price than that
charged for a similar product in the "home" market of the exporter
Individual/psychological influences - Correct Answers -traits/personality
perception
motivation
learning
beliefs and attitudes
Personality/traits - Correct Answers -enduring manner of how a person typically reacts
to situations
Perception - Correct Answers -comprised of three stages:
exposure, attention, and retention
QUESTIONS AND ANSWERS
Global vision - Correct Answers -recognizing and reacting to international marketing
opportunities
Gross domestic product - Correct Answers -the total market value of all final goods and
services produced in a country for a given period
Top 5 import partners 2019 - Correct Answers -china
canada
mexico
japan
germany
Top 5 export partners 2019 - Correct Answers -mexico
canda
china
japan
germany
Culture - Correct Answers -"the collective programming of the mind distinguishing the
members of one group or category of people from others"
Ethnocentrism - Correct Answers -viewing outside others and their cultural traditions
through the lens of our own culture
Multinationals - Correct Answers -firms that engage in international trade beyond
exporting and importing
Tariff - Correct Answers -tax on particular class of product or service to protect domestic
competition
Absolute quota - Correct Answers -maximum number of products that can be imported
in a given time period
Tariff rate quota - Correct Answers -maximum number of products that can be imported
at a reduced tariff
Embargo - Correct Answers -ban on product/service trade activity with another country
, US economic factors and natural resources - Correct Answers -large land mass not
bordered by hostile governments
expansive coastline, farmland, water, coal, oil and gas, people
Five methods of entering the global marketplace - Correct Answers -exporting
licensing
contract manufacturing
joint venture
direct investment
Exporting - Correct Answers -offers the lowest risk primarily because the company does
not assume the cost of operating in another country
Licensing - Correct Answers -agreements that give people/organizations in other
countries the right to use a domestic companies resources to do business or operate
under a domestic business model
ex. Chick Fil A
Contract manufacturing - Correct Answers -involves outsourcing production of a
domestic product to an independent international business
ex. H&M
Joint ventures - Correct Answers -happen when organizations partner to form a new
business or one buys stake in the other
ex. Delta, KLM, Air France
Direct investments - Correct Answers -a domestic company's its up shop in an
International; market
ex. General Motors having 27 manufacturing plants in China
Dumping - Correct Answers -sale of an exported product at a lower price than that
charged for a similar product in the "home" market of the exporter
Individual/psychological influences - Correct Answers -traits/personality
perception
motivation
learning
beliefs and attitudes
Personality/traits - Correct Answers -enduring manner of how a person typically reacts
to situations
Perception - Correct Answers -comprised of three stages:
exposure, attention, and retention
