GB 350 CASCIO FINAL EXAM FINAL STUDY
GUIDE 2026 PRACTICE QUESTIONS ANSWERS
◉ what is company culture Answer: the invisible set of rules which
guides behavior inside and company and therefore it's foundation
which business results rest on
◉ What is a cost competitive advantage? Answer: being the low-cost
competitor in an industry while maintaining satisfactory profit
margins
◉ what is product/service differentation competitive advantage?
Answer: value offering superior to what competitors provide
◉ What is a niche competitive advantage? Answer: the advantage
achieved when a firm seeks to target and effectively serve a small
segment of the market
◉ what is balance of trade Answer: import - exports
◉ what is gdp Answer: gross domestic product - the total value of all
final goods and services produced within a country in a year
,◉ what is real gdp Answer: GDP adjusted for inflation
◉ what are the five methods for entering the global market place
Answer: exporting
liscensing
contract manufacturing
joint venture
direct investment
◉ what is exporting Answer: produce product domestically and sell
internationally
◉ what is licensing? Answer: gives international entities the right to
sell a product under the brands business model
◉ what is contract manufacturing Answer: pays or contracts out the
production of its products to organizations in other countires
◉ what is joint venture Answer: partnerships between an entity in
one country and an entity in another
◉ what is direct investment? Answer: the company independently
establishes and maintains operations in other countries
, ◉ what factors influence the decison to enter the global market
Answer: culture; econmic development; global economy; politics;
demographics; natural resources
◉ How can a countries government affect global trade? Answer:
tarrif; quota; tarriff rate quota; embargo; trade agreement
◉ what is dumping? Answer: Selling goods in another country below
market prices
◉ what is consumer behavior? Answer: the study of consumers and
the processes they use to chose and dispose of products
◉ what behavior is not considered consumer behavior? Answer:
literally everything
◉ what is perceived vs derived value? Answer: what i think im going
to get from and exchange vs what i actually decided i got
◉ what is utilitarian vs hedonic value? Answer: a means to an end
(ex - putting gas in car) vs an end in itself ( ex - watching a scary
movie)
GUIDE 2026 PRACTICE QUESTIONS ANSWERS
◉ what is company culture Answer: the invisible set of rules which
guides behavior inside and company and therefore it's foundation
which business results rest on
◉ What is a cost competitive advantage? Answer: being the low-cost
competitor in an industry while maintaining satisfactory profit
margins
◉ what is product/service differentation competitive advantage?
Answer: value offering superior to what competitors provide
◉ What is a niche competitive advantage? Answer: the advantage
achieved when a firm seeks to target and effectively serve a small
segment of the market
◉ what is balance of trade Answer: import - exports
◉ what is gdp Answer: gross domestic product - the total value of all
final goods and services produced within a country in a year
,◉ what is real gdp Answer: GDP adjusted for inflation
◉ what are the five methods for entering the global market place
Answer: exporting
liscensing
contract manufacturing
joint venture
direct investment
◉ what is exporting Answer: produce product domestically and sell
internationally
◉ what is licensing? Answer: gives international entities the right to
sell a product under the brands business model
◉ what is contract manufacturing Answer: pays or contracts out the
production of its products to organizations in other countires
◉ what is joint venture Answer: partnerships between an entity in
one country and an entity in another
◉ what is direct investment? Answer: the company independently
establishes and maintains operations in other countries
, ◉ what factors influence the decison to enter the global market
Answer: culture; econmic development; global economy; politics;
demographics; natural resources
◉ How can a countries government affect global trade? Answer:
tarrif; quota; tarriff rate quota; embargo; trade agreement
◉ what is dumping? Answer: Selling goods in another country below
market prices
◉ what is consumer behavior? Answer: the study of consumers and
the processes they use to chose and dispose of products
◉ what behavior is not considered consumer behavior? Answer:
literally everything
◉ what is perceived vs derived value? Answer: what i think im going
to get from and exchange vs what i actually decided i got
◉ what is utilitarian vs hedonic value? Answer: a means to an end
(ex - putting gas in car) vs an end in itself ( ex - watching a scary
movie)
