international logistics exam 1 with verified
| | | | | |
answers
In |1995, |the |World |Trade |Organization |succeeded |the |____________________ |that |had |been
created |at |the |Bretton |Woods |Conference |in |1944. |- |CORRECT |ANSWER-General |Agreement |on |Tariffs
|and |Trade |(GATT)
The |General |Agreement |on |Tariffs |and |Trade |was |an |effort |at |reducing |tariffs |and |non-tariff |trade |
barriers. |These |reductions |took |place |through |year-long |discussions |that |were |called |
____________________. |- |CORRECT |ANSWER-rounds
The |euro |is |the |currency |of |____________________ |of |the |twenty-seven |countries |of |the |European |
Union |- |CORRECT |ANSWER-Sixteen |(as |of |May |2010)
When |a |large |retailer |asks |a |company |to |manufacture |a |product |so |that |it |can |be |sold |at |a |low(er) |
price |point, |the |company |is |often |constrained |to |outsource |its |production |overseas. |Such |a |
phenomenon |is |called |the |____________________. |- |CORRECT |ANSWER-Wal-Mart |effect
The |Theory |of |Absolute |Advantage |was |first |coined |by |____________________. |- |CORRECT |ANSWER-
Adam |Smith
The |Theory |of |Comparative |Advantage |was |first |coined |by |Robert |Torrens, |but |popularized |by |
____________________. |- |CORRECT |ANSWER-David |Ricardo
The |Heckscher-Ohlin |Theory |can |also |be |called |the |____________________. |- |CORRECT |ANSWER-
Factor-Endowment |Theory
The |International |Product |Life |Cycle |Theory |was |developed |by |____________________. |- |CORRECT |
ANSWER-Raymond |Vernon
, The |Cluster |Theory, |developed |by |Michael |Porter, |argues |that |geographic |areas |benefit |from |having |a
|high |concentration |of |companies |in |a |particular |industry. |The |area |of |Sassuolo, |in |Italy, |has |a |high |
concentration |of |____________________ |companies. |- |CORRECT |ANSWER-ceramic |tile
The |concept |that |encompasses |the |heritage |of |a |country's |population, |including |their |language, |their |
customs, |their |traditions, |their |morals, |and |their |beliefs |is |that |country's
____________________. |- |CORRECT |ANSWER-culture
The |most |significant |change |in |the |past |fifty |years |in |ocean |transportation |was |the |creation |of |
____________________ |by |Malcom |McLean |- |CORRECT |ANSWER-containers
The |people |whose |responsibilities |include |loading |and |unloading |ships |are |called |
____________________. |- |CORRECT |ANSWER-longshoremen
The |change |in |government |policies |that |allowed |FedEx |and |other |air |carriers |to |purchase |larger |
aircrafts |and |compete |with |other |airlines |was |called |____________________. |- |CORRECT |ANSWER-
deregulation
Logisticians' |concerns |have |shifted |from |an |emphasis |on |"slow, |reliable |deliveries," |to |one |on |"speed"
|and |____________________. |- |CORRECT |ANSWER-consumer |satisfaction
Manufacturers |have |adopted |MRP |systems |so |that |they |can |reduce |their |inventory |and |manufacture |
____________________. |- |CORRECT |ANSWER-just-in-time
Logistics |management |encompasses |____________________ |activities |than |does |supply |chain |
management. |- |CORRECT |ANSWER-fewer, |less
Most |firms |either |purchase |goods |from |abroad |or |sell |goods |abroad. |If |they |do |not, |their |suppliers |
and |customers |do. |This |situation |illustrates |that |supply |chain |management |is |inherently |
____________________. |- |CORRECT |ANSWER-global
International |logistics |involves |activities |that |are |more |____________________ |than |the |activities |of |
domestic |logistics. |- |CORRECT |ANSWER-complex, |difficult
| | | | | |
answers
In |1995, |the |World |Trade |Organization |succeeded |the |____________________ |that |had |been
created |at |the |Bretton |Woods |Conference |in |1944. |- |CORRECT |ANSWER-General |Agreement |on |Tariffs
|and |Trade |(GATT)
The |General |Agreement |on |Tariffs |and |Trade |was |an |effort |at |reducing |tariffs |and |non-tariff |trade |
barriers. |These |reductions |took |place |through |year-long |discussions |that |were |called |
____________________. |- |CORRECT |ANSWER-rounds
The |euro |is |the |currency |of |____________________ |of |the |twenty-seven |countries |of |the |European |
Union |- |CORRECT |ANSWER-Sixteen |(as |of |May |2010)
When |a |large |retailer |asks |a |company |to |manufacture |a |product |so |that |it |can |be |sold |at |a |low(er) |
price |point, |the |company |is |often |constrained |to |outsource |its |production |overseas. |Such |a |
phenomenon |is |called |the |____________________. |- |CORRECT |ANSWER-Wal-Mart |effect
The |Theory |of |Absolute |Advantage |was |first |coined |by |____________________. |- |CORRECT |ANSWER-
Adam |Smith
The |Theory |of |Comparative |Advantage |was |first |coined |by |Robert |Torrens, |but |popularized |by |
____________________. |- |CORRECT |ANSWER-David |Ricardo
The |Heckscher-Ohlin |Theory |can |also |be |called |the |____________________. |- |CORRECT |ANSWER-
Factor-Endowment |Theory
The |International |Product |Life |Cycle |Theory |was |developed |by |____________________. |- |CORRECT |
ANSWER-Raymond |Vernon
, The |Cluster |Theory, |developed |by |Michael |Porter, |argues |that |geographic |areas |benefit |from |having |a
|high |concentration |of |companies |in |a |particular |industry. |The |area |of |Sassuolo, |in |Italy, |has |a |high |
concentration |of |____________________ |companies. |- |CORRECT |ANSWER-ceramic |tile
The |concept |that |encompasses |the |heritage |of |a |country's |population, |including |their |language, |their |
customs, |their |traditions, |their |morals, |and |their |beliefs |is |that |country's
____________________. |- |CORRECT |ANSWER-culture
The |most |significant |change |in |the |past |fifty |years |in |ocean |transportation |was |the |creation |of |
____________________ |by |Malcom |McLean |- |CORRECT |ANSWER-containers
The |people |whose |responsibilities |include |loading |and |unloading |ships |are |called |
____________________. |- |CORRECT |ANSWER-longshoremen
The |change |in |government |policies |that |allowed |FedEx |and |other |air |carriers |to |purchase |larger |
aircrafts |and |compete |with |other |airlines |was |called |____________________. |- |CORRECT |ANSWER-
deregulation
Logisticians' |concerns |have |shifted |from |an |emphasis |on |"slow, |reliable |deliveries," |to |one |on |"speed"
|and |____________________. |- |CORRECT |ANSWER-consumer |satisfaction
Manufacturers |have |adopted |MRP |systems |so |that |they |can |reduce |their |inventory |and |manufacture |
____________________. |- |CORRECT |ANSWER-just-in-time
Logistics |management |encompasses |____________________ |activities |than |does |supply |chain |
management. |- |CORRECT |ANSWER-fewer, |less
Most |firms |either |purchase |goods |from |abroad |or |sell |goods |abroad. |If |they |do |not, |their |suppliers |
and |customers |do. |This |situation |illustrates |that |supply |chain |management |is |inherently |
____________________. |- |CORRECT |ANSWER-global
International |logistics |involves |activities |that |are |more |____________________ |than |the |activities |of |
domestic |logistics. |- |CORRECT |ANSWER-complex, |difficult
