WPC 150 - MH-Read- SCM - Chapters 3 (sections), 9, and 15 Questions and Answers Already
Passed
The use of government regulations to limit the import of goods and services is called: - Answers
trade protectionism
True or false: A quota is a tax placed on imports. - Answers False
Which of the following are functions of the World Trade Organization? - Answers To mediate
trade disputes among nations
To oversee cross-border trade issues
A regional group of countries with a common external tariff, no internal tariffs, and coordinated
laws to facilitate exchange among members is the definition of: - Answers a common market
What agreement created a free-trade area among the United States, Canada, and Mexico? -
Answers North American Free Trade Agreement (NAFTA)
What is the definition of trade protectionism? - Answers The use of government regulations to
limit the import of goods and services
Which of the following countries are members of the Central American Free Trade Agreement
(CAFTA)? - Answers Honduras
Guatemala
Costa Rica
Nicaragua
The definition of a(n) ______ is a tax imposed on imports. - Answers tariff
Global trade offers opportunities because there are so many potential . - Answers Blank 1:
Consumers
Mediating trade disputes among nations and overseeing cross-border trade issues and global
business practices are functions of: - Answers The World Trade Organization (WTO)
In what way will globalization impact U.S. businesses? - Answers Increased competition
Loss of jobs in manufacturing
Concerns for product safety
A(n) , or trading bloc, is a regional group of countries with a common external tariff, no internal
tariffs, and coordinated laws to facilitate exchange among members. - Answers Blank 1:
common
, Blank 2: market
Small and medium-sized firms are often better prepared to leap into global markets because
they: - Answers can react quickly to opportunities
The North American Free Trade Agreement (NAFTA) created a free-trade area among the United
States, , and . - Answers Blank 1: Canada
Blank 2: Mexico
planning helps to solve issues related to facility layout, facility location, and inventory control. -
Answers Blank 1: Operations
Blank 2: Management
The U.S. free trade agreement with Costa Rica, the Dominican Republic, El Salvador, Guatemala,
Nicaragua, and Honduras is . - Answers Blank 1: CAFTA
What strategy focuses on a company deciding where to locate its operations? - Answers Facility
location
Threats to global trade include - Answers terrorism
income inequality
rogue states
Companies sometimes spend millions to move location: - Answers for proximity to customers
U.S. business will experience increased in the future due to the effects of globalization. -
Answers Blank 1 (choose one): competition, challenges, opportunities, or outsourcing
The firms often better prepared to leap into global markets and react quickly to opportunities
are: - Answers small and medium businesses
Many rapidly growing firms are outsourcing areas like engineering, design, and manufacturing
with the use of the , thus, developing an inter-firm approach to operations management. -
Answers Blank 1: Internet
A type of problem that operations management planning helps to solve as it relates to
manufacturing is: - Answers facility layout
Because of , more flexibility in choice of business location has increased while allowing firms to
remain competitive. - Answers Blank 1: information
Blank 2: technology
The term means selecting a geographic location for a firm's operations. - Answers Blank 1:
Passed
The use of government regulations to limit the import of goods and services is called: - Answers
trade protectionism
True or false: A quota is a tax placed on imports. - Answers False
Which of the following are functions of the World Trade Organization? - Answers To mediate
trade disputes among nations
To oversee cross-border trade issues
A regional group of countries with a common external tariff, no internal tariffs, and coordinated
laws to facilitate exchange among members is the definition of: - Answers a common market
What agreement created a free-trade area among the United States, Canada, and Mexico? -
Answers North American Free Trade Agreement (NAFTA)
What is the definition of trade protectionism? - Answers The use of government regulations to
limit the import of goods and services
Which of the following countries are members of the Central American Free Trade Agreement
(CAFTA)? - Answers Honduras
Guatemala
Costa Rica
Nicaragua
The definition of a(n) ______ is a tax imposed on imports. - Answers tariff
Global trade offers opportunities because there are so many potential . - Answers Blank 1:
Consumers
Mediating trade disputes among nations and overseeing cross-border trade issues and global
business practices are functions of: - Answers The World Trade Organization (WTO)
In what way will globalization impact U.S. businesses? - Answers Increased competition
Loss of jobs in manufacturing
Concerns for product safety
A(n) , or trading bloc, is a regional group of countries with a common external tariff, no internal
tariffs, and coordinated laws to facilitate exchange among members. - Answers Blank 1:
common
, Blank 2: market
Small and medium-sized firms are often better prepared to leap into global markets because
they: - Answers can react quickly to opportunities
The North American Free Trade Agreement (NAFTA) created a free-trade area among the United
States, , and . - Answers Blank 1: Canada
Blank 2: Mexico
planning helps to solve issues related to facility layout, facility location, and inventory control. -
Answers Blank 1: Operations
Blank 2: Management
The U.S. free trade agreement with Costa Rica, the Dominican Republic, El Salvador, Guatemala,
Nicaragua, and Honduras is . - Answers Blank 1: CAFTA
What strategy focuses on a company deciding where to locate its operations? - Answers Facility
location
Threats to global trade include - Answers terrorism
income inequality
rogue states
Companies sometimes spend millions to move location: - Answers for proximity to customers
U.S. business will experience increased in the future due to the effects of globalization. -
Answers Blank 1 (choose one): competition, challenges, opportunities, or outsourcing
The firms often better prepared to leap into global markets and react quickly to opportunities
are: - Answers small and medium businesses
Many rapidly growing firms are outsourcing areas like engineering, design, and manufacturing
with the use of the , thus, developing an inter-firm approach to operations management. -
Answers Blank 1: Internet
A type of problem that operations management planning helps to solve as it relates to
manufacturing is: - Answers facility layout
Because of , more flexibility in choice of business location has increased while allowing firms to
remain competitive. - Answers Blank 1: information
Blank 2: technology
The term means selecting a geographic location for a firm's operations. - Answers Blank 1:
