UTAMPA BUS 101: CHAPTER
6-9 EXAM WITH VERIFIED
SOLUTIONS
Exports b- b bcorrect banswer- bAny bgoods bor bservices bproduced bwithin bthe
bdomestic bcountry, bbut bsold bin ba bforeign bcountry.
Imports b- b bcorrect banswer- bAny bgoods bor bservices bproduced bin ba
bforeign bcountry bbut bpurchased bdomestically
Balance bof btrade b- b bcorrect banswer- bthe bdifference bbetween ba bcountry's
btotal bexports band btotal bimports
Trade bsurplus b- b bcorrect banswer- bwhen ba bcountry bexports bmore bthan bit
bimports
Trade bdeficit b- b bcorrect banswer- bAn bexcess bof bimports bover bexports
Comparative badvantage b- b bcorrect banswer- bThe bidea bthat bcountries band
bbusinesses bshould bspecialize bin bthe bproduction bof bgoods bin bwhich bthey
bhave ba blower bopportunity bcost.
Absolute badvantage b- b bcorrect banswer- bIn bthe btheory bof binternational
btrade, ba bcountry bor bfirm bhas ban babsolute badvantage bif bit bcan bproduce
ba bproduct b(good bor bservice) bmore b'efficiently' b(cheaply) bthan bothers.
Pollution bhaven b- b bcorrect banswer- bWhen blarge bindustrialized bnations
bseek bto bset bup bfactories bor boffices babroad, bthey bwill boften blook bfor
bthe bcheapest boption bin bterms bof bresources band blabor bthat boffers bthe
bland band bmaterial baccess bthey brequire.
Licensing b- b bcorrect banswer- bOccurs bwhen ba bfirm b(i.e., bthe blicensor)
ballows ba bforeign bcompany b(i.e., bthe blicensee) bto bproduce bits bproducts
band butilize bits btrademarks bfor ba broyalty bfee.
International bfranchise b- b bcorrect banswer- bAllows bthe bfranchisee bto butilize
bthe bbusiness bname band bsell bthe bproduct bin ba bgiven bmarket barea.
Contract bmanufacturing b- b bcorrect banswer- bAllows bfor bmore bcontrol bin
baccessing binternational bmarkets bby bsimply ballowing ba bforeign bcompany
bthe bability bto bproduce btheir bproduct.
, International bjoint bventures b- b bcorrect banswer- bA bspecial btype bof
bpartnership bbetween btwo bor bmore bcompanies bin bdifferent bcountries.
International bstrategic balliance b- b bcorrect banswer- bA bless bformal
bpartnership, bdone bwithout bsharing bof bprofits band brisks.
Foreign bdirect binvestment b(FDI) b- b bcorrect banswer- bThe bpurchase bof
bpermanent bcapital bgoods, bsuch bas ba bmanufacturing bfactory bor ba
bbusiness bin ba bdifferent bcountry.
Foreign bsubsidiary b- b bcorrect banswer- bWhen ba bparent bcompany bin bthe
bhome bcountry bpurchases ba bcompany bin banother bcountry.
Multinational bcorporation b- b bcorrect banswer- bThe bbusiness bmust bown ba
bphysical bpresence bin bforeign bcountry.
Non-tradable bgoods band bservices b- b bcorrect banswer- bProducts bthat bare
bnot beasily btradable bdue bto btheir binherent bcharacteristics.
Trade bprotection b- b bcorrect banswer- bA bbarrier binstituted bby ba
bgovernmental bentity bdesigned bto bshield bdomestic bindustries band btheir
bworkers bfrom bglobal bcompetition.
Tariffs b- b bcorrect banswer- bTaxes bplaced bon bimported bgoods.
Quota b- b bcorrect banswer- bA brestriction bon bthe boverall bquantity bof ba
bcertain bgood bthat bcan bbe bimported binto ba bcountry.
Non-tariff bbarriers b- b bcorrect banswer- bA bform bof brestrictive btrade bwhere
btrade bbarriers bare bset bup band btake ba bform bother bthan ba btariff.
World bTrade bOrganization b(WTO) b- b bcorrect banswer- bThe bWTO bis ba
bforum bfor bnations bto bnegotiate bthe brules bof binternational btrade, bwith bthe
boverall bpurpose bof bthe borganization bbeing bto bfacilitate ba bharmonious
bflow bof bglobal btrade.
Founded: bJanuary b1st, b1995
High-performance bwork bsystems b- b bcorrect banswer- bFocusing bon
bstrategies bthat bcapitalize bon bpeople.
Employer battractiveness b- b bcorrect banswer- bEnvisioned bbenefits bthat ba
bpotential bemployee bsees bin bworking bfor ba bspecific borganization.
Qualifications b- b bcorrect banswer- bA bjob bapplicant's bknowledge, babilities,
bskills, band bother bcharacteristics.
Validated bselection btools b- b bcorrect banswer- bTools bthat bhave bbeen
bshown bto bpredict bvarious baspects bof bperformance.
6-9 EXAM WITH VERIFIED
SOLUTIONS
Exports b- b bcorrect banswer- bAny bgoods bor bservices bproduced bwithin bthe
bdomestic bcountry, bbut bsold bin ba bforeign bcountry.
Imports b- b bcorrect banswer- bAny bgoods bor bservices bproduced bin ba
bforeign bcountry bbut bpurchased bdomestically
Balance bof btrade b- b bcorrect banswer- bthe bdifference bbetween ba bcountry's
btotal bexports band btotal bimports
Trade bsurplus b- b bcorrect banswer- bwhen ba bcountry bexports bmore bthan bit
bimports
Trade bdeficit b- b bcorrect banswer- bAn bexcess bof bimports bover bexports
Comparative badvantage b- b bcorrect banswer- bThe bidea bthat bcountries band
bbusinesses bshould bspecialize bin bthe bproduction bof bgoods bin bwhich bthey
bhave ba blower bopportunity bcost.
Absolute badvantage b- b bcorrect banswer- bIn bthe btheory bof binternational
btrade, ba bcountry bor bfirm bhas ban babsolute badvantage bif bit bcan bproduce
ba bproduct b(good bor bservice) bmore b'efficiently' b(cheaply) bthan bothers.
Pollution bhaven b- b bcorrect banswer- bWhen blarge bindustrialized bnations
bseek bto bset bup bfactories bor boffices babroad, bthey bwill boften blook bfor
bthe bcheapest boption bin bterms bof bresources band blabor bthat boffers bthe
bland band bmaterial baccess bthey brequire.
Licensing b- b bcorrect banswer- bOccurs bwhen ba bfirm b(i.e., bthe blicensor)
ballows ba bforeign bcompany b(i.e., bthe blicensee) bto bproduce bits bproducts
band butilize bits btrademarks bfor ba broyalty bfee.
International bfranchise b- b bcorrect banswer- bAllows bthe bfranchisee bto butilize
bthe bbusiness bname band bsell bthe bproduct bin ba bgiven bmarket barea.
Contract bmanufacturing b- b bcorrect banswer- bAllows bfor bmore bcontrol bin
baccessing binternational bmarkets bby bsimply ballowing ba bforeign bcompany
bthe bability bto bproduce btheir bproduct.
, International bjoint bventures b- b bcorrect banswer- bA bspecial btype bof
bpartnership bbetween btwo bor bmore bcompanies bin bdifferent bcountries.
International bstrategic balliance b- b bcorrect banswer- bA bless bformal
bpartnership, bdone bwithout bsharing bof bprofits band brisks.
Foreign bdirect binvestment b(FDI) b- b bcorrect banswer- bThe bpurchase bof
bpermanent bcapital bgoods, bsuch bas ba bmanufacturing bfactory bor ba
bbusiness bin ba bdifferent bcountry.
Foreign bsubsidiary b- b bcorrect banswer- bWhen ba bparent bcompany bin bthe
bhome bcountry bpurchases ba bcompany bin banother bcountry.
Multinational bcorporation b- b bcorrect banswer- bThe bbusiness bmust bown ba
bphysical bpresence bin bforeign bcountry.
Non-tradable bgoods band bservices b- b bcorrect banswer- bProducts bthat bare
bnot beasily btradable bdue bto btheir binherent bcharacteristics.
Trade bprotection b- b bcorrect banswer- bA bbarrier binstituted bby ba
bgovernmental bentity bdesigned bto bshield bdomestic bindustries band btheir
bworkers bfrom bglobal bcompetition.
Tariffs b- b bcorrect banswer- bTaxes bplaced bon bimported bgoods.
Quota b- b bcorrect banswer- bA brestriction bon bthe boverall bquantity bof ba
bcertain bgood bthat bcan bbe bimported binto ba bcountry.
Non-tariff bbarriers b- b bcorrect banswer- bA bform bof brestrictive btrade bwhere
btrade bbarriers bare bset bup band btake ba bform bother bthan ba btariff.
World bTrade bOrganization b(WTO) b- b bcorrect banswer- bThe bWTO bis ba
bforum bfor bnations bto bnegotiate bthe brules bof binternational btrade, bwith bthe
boverall bpurpose bof bthe borganization bbeing bto bfacilitate ba bharmonious
bflow bof bglobal btrade.
Founded: bJanuary b1st, b1995
High-performance bwork bsystems b- b bcorrect banswer- bFocusing bon
bstrategies bthat bcapitalize bon bpeople.
Employer battractiveness b- b bcorrect banswer- bEnvisioned bbenefits bthat ba
bpotential bemployee bsees bin bworking bfor ba bspecific borganization.
Qualifications b- b bcorrect banswer- bA bjob bapplicant's bknowledge, babilities,
bskills, band bother bcharacteristics.
Validated bselection btools b- b bcorrect banswer- bTools bthat bhave bbeen
bshown bto bpredict bvarious baspects bof bperformance.
