BCOR 350 PRACTICE TEST3 QUESTIONS AND
CORRECT ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS) LATEST UPDATE 2024/2025
Which of the following statements about the global marketplace is correct? -
✔✔Domestic firms need to internationalize to take advantage of growing markets
throughout the world.
One barrier to international trade is when a country imposes biases against bids,
restrictive product standards, or excessive host-country regulations or enforcement.
These actions represent __________. - ✔✔nontariff trade barriers
Which organization was designed to reassess trade barriers, establish new rules for
international trade, impose international trade sanctions, and mediate global trade
disputes? - ✔✔The World Trade Organization (WTO)
What are the two economic factors that reflect a country's attractiveness as a market? -
✔✔Industrial structure and income distribution
Free trade zones can be described as __________. - ✔✔groups of nations organized
to work toward common goals in the regulation of international trade
Which type of industrial structure offers the fewest marketing opportunities? -
✔✔Subsistence economies
To assess the impact of __________ on global markets, marketers would look to a
country's norms, folkways, and taboos. - ✔✔culture
, Nations that have too little hard currency to pay for their purchases from other
countries will often use which method of international trade? - ✔✔Barter
A country's attractiveness depends on the product, geographical factors, income and
population, political climate, and other considerations. These factors relate to the
importance of which of the following decisions? - ✔✔The types of countries to enter
What is the simplest way to enter a foreign market? - ✔✔Through exporting
Which joint venturing method typically involves fees and royalty payments? -
✔✔Licensing
Which market entry strategy has the greatest amount of commitment, risk, control, and
profit potential? - ✔✔Direct investment
One market entry strategy is __________, in which the company makes agreements
with companies in the foreign market to produce its product or provide its service. -
✔✔contract manufacturing
What is the main disadvantage of direct investment? - ✔✔The risks the firm faces
One factor that makes management contracting an attractive entry strategy is that
__________. - ✔✔it yields immediate income
Apple iPads, Gillette razors, and Black & Decker tools are all sold successfully in about
the same form around the world. This is an example of which global strategy? - ✔✔A
straight product extension
CORRECT ANSWERS (VERIFIED AND WELL
DETAILED ANSWERS) LATEST UPDATE 2024/2025
Which of the following statements about the global marketplace is correct? -
✔✔Domestic firms need to internationalize to take advantage of growing markets
throughout the world.
One barrier to international trade is when a country imposes biases against bids,
restrictive product standards, or excessive host-country regulations or enforcement.
These actions represent __________. - ✔✔nontariff trade barriers
Which organization was designed to reassess trade barriers, establish new rules for
international trade, impose international trade sanctions, and mediate global trade
disputes? - ✔✔The World Trade Organization (WTO)
What are the two economic factors that reflect a country's attractiveness as a market? -
✔✔Industrial structure and income distribution
Free trade zones can be described as __________. - ✔✔groups of nations organized
to work toward common goals in the regulation of international trade
Which type of industrial structure offers the fewest marketing opportunities? -
✔✔Subsistence economies
To assess the impact of __________ on global markets, marketers would look to a
country's norms, folkways, and taboos. - ✔✔culture
, Nations that have too little hard currency to pay for their purchases from other
countries will often use which method of international trade? - ✔✔Barter
A country's attractiveness depends on the product, geographical factors, income and
population, political climate, and other considerations. These factors relate to the
importance of which of the following decisions? - ✔✔The types of countries to enter
What is the simplest way to enter a foreign market? - ✔✔Through exporting
Which joint venturing method typically involves fees and royalty payments? -
✔✔Licensing
Which market entry strategy has the greatest amount of commitment, risk, control, and
profit potential? - ✔✔Direct investment
One market entry strategy is __________, in which the company makes agreements
with companies in the foreign market to produce its product or provide its service. -
✔✔contract manufacturing
What is the main disadvantage of direct investment? - ✔✔The risks the firm faces
One factor that makes management contracting an attractive entry strategy is that
__________. - ✔✔it yields immediate income
Apple iPads, Gillette razors, and Black & Decker tools are all sold successfully in about
the same form around the world. This is an example of which global strategy? - ✔✔A
straight product extension
