BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
Question 1
1 out of 1 points
The United States, Canada, and Mexico make up the ________, which in essence has removed
all barriers to trade among these countries and created a huge North American market.
Selected Answer:
North American Free Trade Agreement
Answers: North American Trade Union
North American Common Market
North American Free Trade Agreement
General Agreement on Tariffs and Trade
Response The United States, Canada, and Mexico make up the North American Free
Feedback: Trade Agreement (NAFTA), which in essence has removed all barriers to trade
among these countries and created a huge North American market.
Question 2
1 out of 1 points
U.S. firms maintain particularly dominant global positions in all of the following industries except:
Selected Answer:
textiles.
Answers:
textiles.
biotechnology.
telecommunications.
media.
Response U.S. firms maintain particularly dominant global positions in technology-
Feedback: intensive industries, including computing (hardware and services),
telecommunications, media, and biotechnology.
Question 3
1 out of 1 points
________ is the process by which companies undertake some activities at offshore locations
instead of in their countries of origin.
Selected Answer:
Offshoring
Answers: Homesourcing
Insourcing
Offshoring
Globalization
Response Offshoring is the process by which companies undertake some activities at
Feedback: offshore locations instead of in their countries of origin.
Question 4
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
1 out of 1 points
The Asian economic block, made up of Indonesia, Malaysia, the Philippines, Singapore, Brunei,
Thailand, Cambodia, Myanmar, and Vietnam, is referred to as the:
Selected Answer:
Association of Southeast Asian Nations (ASEAN).
Answers: Asian Economic Union.
Southeast Asia Free Trade Agreement (SEAFTA).
Southeast Asia Common Market.
Association of Southeast Asian Nations (ASEAN).
Response The Association of Southeast Asian Nations (ASEAN) is made up of
Feedback: Indonesia, Malaysia, the Philippines, Singapore, Brunei, Thailand, and, in
recent years, Cambodia, Myanmar, and Vietnam.
Question 5
1 out of 1 points
The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific Rim countries,
including:
Selected Answer:
Peru, the United States, and Vietnam.
Answers:
Peru, the United States, and Vietnam.
Singapore, Russia, and Chile.
India, Canada, and Australia.
Great Britain, New Zealand, and China.
Response The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific
Feedback: Rim countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia,
Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
Question 6
1 out of 1 points
Which of the following economies is projected to become the largest by 2050 using market
exchange rates?
Selected Answer:
China
Answers:
China
Australia
Brazil
India
Response The economy of China is projected to become the largest by 2050 using
Feedback: market exchange rates. China would surge past the United States and Japan
as the largest world economic power by 2050.
Question 7
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
1 out of 1 points
________ is the process of applying management concepts and techniques in a multinational
environment and adapting management practices to different economic, political, and cultural
environments.
Selected Answer:
International management
Answers: Internationalization
Strategic management
International management
Globalization
Response International management is the process of applying management concepts
Feedback: and techniques in a multinational environment and adapting management
practices to different economic, political, and cultural contexts.
Question 8
1 out of 1 points
In ________, chaebols are very large, family-held conglomerates that have considerable
political and economic power.
Selected Answer:
South Korea
Answers: China
South Korea
Thailand
Japan
Response In South Korea, chaebols are very large, family-held Korean conglomerates
Feedback: that have considerable political and economic power.
Question 9
1 out of 1 points
A factory, the majority of which are located in Mexican border towns, that imports materials and
equipment on a duty- and tariff-free basis for assembly or manufacturing and re-export is
referred to as ________.
Selected Answer:
a maquiladora
Answers: a keiretsu
a governmental agency
a maquiladora
a vertically integrated corporation
Response A factory, the majority of which are located in Mexican border towns, that
Feedback: imports materials and equipment on a duty- and tariff-free basis for assembly
or manufacturing and re-export is referred to as a maquiladora.
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
Question 10
1 out of 1 points
Which of the following countries was not among the world's 10 most competitive nations in
2015?
Selected Answer:
Mexico
Answers: Germany
Singapore
Norway
Mexico
Response In the year 2015, the 10 most competitive nations were the United States,
Feedback: Switzerland, China-Hong Kong, Sweden, Singapore, Norway, Canada,
Luxembourg, Germany, and Denmark.
Question 11
1 out of 1 points
The ________ is the global organization of countries that oversees rules and regulations for
international trade and investment, including agriculture, intellectual property, services,
competition, and subsidies.
Selected Answer:
WTO
Answers:
WTO
NAFTA
WIPO
ITO
Response The WTO is the global organization of countries that oversees rules and
Feedback: regulations for international trade and investment, including agriculture,
intellectual property, services, competition, and subsidies.
Question 12
1 out of 1 points
In the context of established economies, despite setbacks, ________ remains a formidable
international competitor and is well poised in all three major economic regions: the Pacific Rim,
North America, and Europe.
Selected Answer:
Japan
Answers:
Japan
China
Chile
Argentina
Response In the context of established economies, despite setbacks, Japan remains a
Question 1
1 out of 1 points
The United States, Canada, and Mexico make up the ________, which in essence has removed
all barriers to trade among these countries and created a huge North American market.
Selected Answer:
North American Free Trade Agreement
Answers: North American Trade Union
North American Common Market
North American Free Trade Agreement
General Agreement on Tariffs and Trade
Response The United States, Canada, and Mexico make up the North American Free
Feedback: Trade Agreement (NAFTA), which in essence has removed all barriers to trade
among these countries and created a huge North American market.
Question 2
1 out of 1 points
U.S. firms maintain particularly dominant global positions in all of the following industries except:
Selected Answer:
textiles.
Answers:
textiles.
biotechnology.
telecommunications.
media.
Response U.S. firms maintain particularly dominant global positions in technology-
Feedback: intensive industries, including computing (hardware and services),
telecommunications, media, and biotechnology.
Question 3
1 out of 1 points
________ is the process by which companies undertake some activities at offshore locations
instead of in their countries of origin.
Selected Answer:
Offshoring
Answers: Homesourcing
Insourcing
Offshoring
Globalization
Response Offshoring is the process by which companies undertake some activities at
Feedback: offshore locations instead of in their countries of origin.
Question 4
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
1 out of 1 points
The Asian economic block, made up of Indonesia, Malaysia, the Philippines, Singapore, Brunei,
Thailand, Cambodia, Myanmar, and Vietnam, is referred to as the:
Selected Answer:
Association of Southeast Asian Nations (ASEAN).
Answers: Asian Economic Union.
Southeast Asia Free Trade Agreement (SEAFTA).
Southeast Asia Common Market.
Association of Southeast Asian Nations (ASEAN).
Response The Association of Southeast Asian Nations (ASEAN) is made up of
Feedback: Indonesia, Malaysia, the Philippines, Singapore, Brunei, Thailand, and, in
recent years, Cambodia, Myanmar, and Vietnam.
Question 5
1 out of 1 points
The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific Rim countries,
including:
Selected Answer:
Peru, the United States, and Vietnam.
Answers:
Peru, the United States, and Vietnam.
Singapore, Russia, and Chile.
India, Canada, and Australia.
Great Britain, New Zealand, and China.
Response The Trans-Pacific Partnership (TPP) is a trade agreement among 12 Pacific
Feedback: Rim countries, including Australia, Brunei, Canada, Chile, Japan, Malaysia,
Mexico, New Zealand, Peru, Singapore, the United States, and Vietnam.
Question 6
1 out of 1 points
Which of the following economies is projected to become the largest by 2050 using market
exchange rates?
Selected Answer:
China
Answers:
China
Australia
Brazil
India
Response The economy of China is projected to become the largest by 2050 using
Feedback: market exchange rates. China would surge past the United States and Japan
as the largest world economic power by 2050.
Question 7
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
1 out of 1 points
________ is the process of applying management concepts and techniques in a multinational
environment and adapting management practices to different economic, political, and cultural
environments.
Selected Answer:
International management
Answers: Internationalization
Strategic management
International management
Globalization
Response International management is the process of applying management concepts
Feedback: and techniques in a multinational environment and adapting management
practices to different economic, political, and cultural contexts.
Question 8
1 out of 1 points
In ________, chaebols are very large, family-held conglomerates that have considerable
political and economic power.
Selected Answer:
South Korea
Answers: China
South Korea
Thailand
Japan
Response In South Korea, chaebols are very large, family-held Korean conglomerates
Feedback: that have considerable political and economic power.
Question 9
1 out of 1 points
A factory, the majority of which are located in Mexican border towns, that imports materials and
equipment on a duty- and tariff-free basis for assembly or manufacturing and re-export is
referred to as ________.
Selected Answer:
a maquiladora
Answers: a keiretsu
a governmental agency
a maquiladora
a vertically integrated corporation
Response A factory, the majority of which are located in Mexican border towns, that
Feedback: imports materials and equipment on a duty- and tariff-free basis for assembly
or manufacturing and re-export is referred to as a maquiladora.
, BUS 53 FINAL EXAM (CHAPTERS 1-13) QUIZZES
Question 10
1 out of 1 points
Which of the following countries was not among the world's 10 most competitive nations in
2015?
Selected Answer:
Mexico
Answers: Germany
Singapore
Norway
Mexico
Response In the year 2015, the 10 most competitive nations were the United States,
Feedback: Switzerland, China-Hong Kong, Sweden, Singapore, Norway, Canada,
Luxembourg, Germany, and Denmark.
Question 11
1 out of 1 points
The ________ is the global organization of countries that oversees rules and regulations for
international trade and investment, including agriculture, intellectual property, services,
competition, and subsidies.
Selected Answer:
WTO
Answers:
WTO
NAFTA
WIPO
ITO
Response The WTO is the global organization of countries that oversees rules and
Feedback: regulations for international trade and investment, including agriculture,
intellectual property, services, competition, and subsidies.
Question 12
1 out of 1 points
In the context of established economies, despite setbacks, ________ remains a formidable
international competitor and is well poised in all three major economic regions: the Pacific Rim,
North America, and Europe.
Selected Answer:
Japan
Answers:
Japan
China
Chile
Argentina
Response In the context of established economies, despite setbacks, Japan remains a
