LATEST BUS 280 EXAM 1 QUESTIONS AND
ANSWERS
Any commercial transaction that crosses the borders of two or more
nations is known as ________. - ANSWER international business
Goods and services purchased abroad and brought into a country are
called ________. - ANSWER imports
________ are all goods and services sold abroad and sent out of a
country. - ANSWER exports
A business that has direct investments (in the form of marketing or
manufacturing subsidiaries) abroad in several countries is called a
________. - ANSWER multinational corporation
The rise of a new international entity called the ________ suggests that
any company, regardless of age, experience, and resources, can
engage in international business. - ANSWER born global firm
________ is the trend toward greater economic, cultural, political, and
technological interdependence among national institutions and
economies. - ANSWER Globalization
Globalization is characterized by - ANSWER national boundaries
becoming less relevant
which of the following refers to convergence in buyer preferences in
markets around the world? - ANSWER globalization of markets
9) Which of the following refers to the use of computer networks to
purchase, sell, or exchange products; service customers; and
collaborate with partners? - ANSWER e-commerce
, ________ is defined as the dispersal of production activities to locations
that help a company achieve its cost-minimization or quality-
maximization objectives for a good or service. - ANSWER globalization
of production
Which of the following is an example of globalization of production? -
ANSWER a U.S. company that builds a computer hardware
manufacturing facility in India
The purpose of the General Agreement on Tariffs and Trade (GATT)
was to - ANSWER promote free trade
________ place limits on the quantity of a product being imported. -
ANSWER nontariff barriers
A major flaw of the original General Agreement on Tariffs and Trade
(GATT) was that it lacked the power to ________. - ANSWER enforce
world trade rules
The ________ replaced the institution of GATT while retaining all of the
former GATT agreements. - ANSWER World Trade Organization
The value of all goods and services produced by a country's domestic
and international activities over a one-year period is the country's
________. - ANSWER Gross National Product (GNP)
Opponents argue that globalization ________. - ANSWER eliminates
manufacturing jobs in developed nations
Globalization is criticized because it ________. - ANSWER exploits
workers in low-wage nations
Which of the following is defined as a group of people who share a
unique way of life within a larger, dominant culture? - ANSWER sub
culture
Which of the following is a cultural component that implies gauging the
beauty and appeal of artwork? - ANSWER aesthetics
ANSWERS
Any commercial transaction that crosses the borders of two or more
nations is known as ________. - ANSWER international business
Goods and services purchased abroad and brought into a country are
called ________. - ANSWER imports
________ are all goods and services sold abroad and sent out of a
country. - ANSWER exports
A business that has direct investments (in the form of marketing or
manufacturing subsidiaries) abroad in several countries is called a
________. - ANSWER multinational corporation
The rise of a new international entity called the ________ suggests that
any company, regardless of age, experience, and resources, can
engage in international business. - ANSWER born global firm
________ is the trend toward greater economic, cultural, political, and
technological interdependence among national institutions and
economies. - ANSWER Globalization
Globalization is characterized by - ANSWER national boundaries
becoming less relevant
which of the following refers to convergence in buyer preferences in
markets around the world? - ANSWER globalization of markets
9) Which of the following refers to the use of computer networks to
purchase, sell, or exchange products; service customers; and
collaborate with partners? - ANSWER e-commerce
, ________ is defined as the dispersal of production activities to locations
that help a company achieve its cost-minimization or quality-
maximization objectives for a good or service. - ANSWER globalization
of production
Which of the following is an example of globalization of production? -
ANSWER a U.S. company that builds a computer hardware
manufacturing facility in India
The purpose of the General Agreement on Tariffs and Trade (GATT)
was to - ANSWER promote free trade
________ place limits on the quantity of a product being imported. -
ANSWER nontariff barriers
A major flaw of the original General Agreement on Tariffs and Trade
(GATT) was that it lacked the power to ________. - ANSWER enforce
world trade rules
The ________ replaced the institution of GATT while retaining all of the
former GATT agreements. - ANSWER World Trade Organization
The value of all goods and services produced by a country's domestic
and international activities over a one-year period is the country's
________. - ANSWER Gross National Product (GNP)
Opponents argue that globalization ________. - ANSWER eliminates
manufacturing jobs in developed nations
Globalization is criticized because it ________. - ANSWER exploits
workers in low-wage nations
Which of the following is defined as a group of people who share a
unique way of life within a larger, dominant culture? - ANSWER sub
culture
Which of the following is a cultural component that implies gauging the
beauty and appeal of artwork? - ANSWER aesthetics
