GEB 2350 midterm questions and
answers rated A+
Which of the following has most likely triggered the increase of small businesses involved in
international business?
increased cultural literacy
economic recession
foreign-made materials
e-commerce - correct answer ✔✔ e-commerce
Walt Disney permits a German clothing manufacturer to market children's pajamas
embroidered with Mickey Mouse in return for a percentage of company sales. This is an
example of ________.
franchising
leasing
licensing
piracy - correct answer ✔✔ licensing
The BRIC countries include Brazil, Russia, India, and China.
True
False - correct answer ✔✔ true
The ratio of international trade to economic activity has been falling steadily in recent years.
,True
False - correct answer ✔✔ false
Globalization has allowed firms to expand into markets that, until recently, were insulated from
the international marketplace.
True
False - correct answer ✔✔ true
McDonald's has licensed its brand name, operational systems, and trademarks to individual
restaurant owners in Europe. This is called international ________.
franchising
leasing
diversifying
marketing - correct answer ✔✔ franchising
Singapore Airlines has expanded into non-Asian markets by leveraging its core competencies,
which include reliability and high customer satisfaction.
True
False - correct answer ✔✔ true
The Internet has facilitated the entry of small businesses into international markets.
True
, False - correct answer ✔✔ true
Sam's Club purchases kalamata olives from Greece for sale in its stores. Which international
business activity does this represent?
merchandising
importing
exporting
franchising - correct answer ✔✔ importing
The primary benefit of worldwide partnership is the right to use the Olympic logo on all
advertising by the sponsor.
True
False - correct answer ✔✔ false
The European Union accounted for about ________ in GDP in 2016.
6 trillion dollars
17 trillion dollars
35 trillion dollars
79 trillion dollars - correct answer ✔✔ 17 trillion dollars
What caused South Korea's economic growth to suddenly slow in 1997-1998?
collapse of the chaebol
return to Communist rule
answers rated A+
Which of the following has most likely triggered the increase of small businesses involved in
international business?
increased cultural literacy
economic recession
foreign-made materials
e-commerce - correct answer ✔✔ e-commerce
Walt Disney permits a German clothing manufacturer to market children's pajamas
embroidered with Mickey Mouse in return for a percentage of company sales. This is an
example of ________.
franchising
leasing
licensing
piracy - correct answer ✔✔ licensing
The BRIC countries include Brazil, Russia, India, and China.
True
False - correct answer ✔✔ true
The ratio of international trade to economic activity has been falling steadily in recent years.
,True
False - correct answer ✔✔ false
Globalization has allowed firms to expand into markets that, until recently, were insulated from
the international marketplace.
True
False - correct answer ✔✔ true
McDonald's has licensed its brand name, operational systems, and trademarks to individual
restaurant owners in Europe. This is called international ________.
franchising
leasing
diversifying
marketing - correct answer ✔✔ franchising
Singapore Airlines has expanded into non-Asian markets by leveraging its core competencies,
which include reliability and high customer satisfaction.
True
False - correct answer ✔✔ true
The Internet has facilitated the entry of small businesses into international markets.
True
, False - correct answer ✔✔ true
Sam's Club purchases kalamata olives from Greece for sale in its stores. Which international
business activity does this represent?
merchandising
importing
exporting
franchising - correct answer ✔✔ importing
The primary benefit of worldwide partnership is the right to use the Olympic logo on all
advertising by the sponsor.
True
False - correct answer ✔✔ false
The European Union accounted for about ________ in GDP in 2016.
6 trillion dollars
17 trillion dollars
35 trillion dollars
79 trillion dollars - correct answer ✔✔ 17 trillion dollars
What caused South Korea's economic growth to suddenly slow in 1997-1998?
collapse of the chaebol
return to Communist rule
