BUS 280 MIDTERM REVIEW EXAM
QUESTIONS WITH 100 % CORRECT
ANSWERS
Any commercial transaction that crosses the borders of two or more nations is
known as ________.
A) domestic marketing
B) market segmentation
C) international business
D) global manufacturing - ANSWER C) International business
Goods and services purchased abroad and brought into a country are called
________.
A) gross domestic products
B) exports
C) gross national products
D) imports - ANSWER D) imports
________ are all goods and services sold abroad and sent out of a country.
A) Net national products
B) Exports
C) Gross domestic products
D) Imports - ANSWER B. exports
A business that has direct investments (in the form of marketing or
manufacturing subsidiaries) abroad in several countries is called a ________.
A) dummy corporation
B) shell corporation
C) multinational corporation
D) domestic corporation - ANSWER C. 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.
A) transnational corporation
,B) multinational corporation
C) born global firm
D) global firm - ANSWER C. born global firm
________ is the trend toward greater economic, cultural, political, and
technological interdependence among national institutions and economies.
A) Privatization
B) Heterogenization
C) Globalization
D) Decentralization - ANSWER C. Globalization
Globalization is characterized by ________.
A) the demise of democracy within a nation
B) national boundaries becoming less relevant
C) the fortification of trade barriers
D) rigid foreign relations policies - ANSWER B. national boundaries
becoming less relevant
Which of the following refers to convergence in buyer preferences in markets
around the world?
A) heterogenization of markets
B) globalization of markets
C) segmentation of markets
D) nationalization of markets - ANSWER B. globalization of markets
Which of the following refers to the use of computer networks to purchase, sell,
or exchange products and collaborate with partners?A) e-commerceB)
telecommutingC) data virtualizationD) virtual hosting - ANSWER A) e-
commerce
- ANSWER
- ANSWER
________ 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.
, A) Global offering
B) Globalization of production
C) Global governance
D) Globalization of markets - ANSWER B. Globalization of production
Which of the following is an example of globalization of production?
A) Canadian consumers who import food products from Australia
B) A German company which sells car components to British car makers
C) A U.S. company that builds a computer hardware manufacturing facility
in India
D) A Swiss watch manufacturer that builds a manufacturing facility in
Switzerland - ANSWER C. 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
________.
A) create an international currency
B) regulate exchange rates
C) create regional trade organizations
D) promote free trade - ANSWER D. promote free trade
________ place limits on the quantity of a product being imported.
A) Embargoes
B) Trade blocs
C) Nontariff barriers
D) Anti-dumping duties - ANSWER C. Nontariff barriers
A major flaw of the original General Agreement on Tariffs and Trade (GATT)
was that it lacked the power to ________.
A) displace the WTO
B) reduce nontariff barriers to international trade
C) govern exchange rates
D) enforce world trade rules - ANSWER D. enforce world trade rules
The ________ replaced the institution of GATT while retaining all of the
former GATT agreements.
A) World Trade Organization
B) Federation of International Trade Association
QUESTIONS WITH 100 % CORRECT
ANSWERS
Any commercial transaction that crosses the borders of two or more nations is
known as ________.
A) domestic marketing
B) market segmentation
C) international business
D) global manufacturing - ANSWER C) International business
Goods and services purchased abroad and brought into a country are called
________.
A) gross domestic products
B) exports
C) gross national products
D) imports - ANSWER D) imports
________ are all goods and services sold abroad and sent out of a country.
A) Net national products
B) Exports
C) Gross domestic products
D) Imports - ANSWER B. exports
A business that has direct investments (in the form of marketing or
manufacturing subsidiaries) abroad in several countries is called a ________.
A) dummy corporation
B) shell corporation
C) multinational corporation
D) domestic corporation - ANSWER C. 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.
A) transnational corporation
,B) multinational corporation
C) born global firm
D) global firm - ANSWER C. born global firm
________ is the trend toward greater economic, cultural, political, and
technological interdependence among national institutions and economies.
A) Privatization
B) Heterogenization
C) Globalization
D) Decentralization - ANSWER C. Globalization
Globalization is characterized by ________.
A) the demise of democracy within a nation
B) national boundaries becoming less relevant
C) the fortification of trade barriers
D) rigid foreign relations policies - ANSWER B. national boundaries
becoming less relevant
Which of the following refers to convergence in buyer preferences in markets
around the world?
A) heterogenization of markets
B) globalization of markets
C) segmentation of markets
D) nationalization of markets - ANSWER B. globalization of markets
Which of the following refers to the use of computer networks to purchase, sell,
or exchange products and collaborate with partners?A) e-commerceB)
telecommutingC) data virtualizationD) virtual hosting - ANSWER A) e-
commerce
- ANSWER
- ANSWER
________ 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.
, A) Global offering
B) Globalization of production
C) Global governance
D) Globalization of markets - ANSWER B. Globalization of production
Which of the following is an example of globalization of production?
A) Canadian consumers who import food products from Australia
B) A German company which sells car components to British car makers
C) A U.S. company that builds a computer hardware manufacturing facility
in India
D) A Swiss watch manufacturer that builds a manufacturing facility in
Switzerland - ANSWER C. 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
________.
A) create an international currency
B) regulate exchange rates
C) create regional trade organizations
D) promote free trade - ANSWER D. promote free trade
________ place limits on the quantity of a product being imported.
A) Embargoes
B) Trade blocs
C) Nontariff barriers
D) Anti-dumping duties - ANSWER C. Nontariff barriers
A major flaw of the original General Agreement on Tariffs and Trade (GATT)
was that it lacked the power to ________.
A) displace the WTO
B) reduce nontariff barriers to international trade
C) govern exchange rates
D) enforce world trade rules - ANSWER D. enforce world trade rules
The ________ replaced the institution of GATT while retaining all of the
former GATT agreements.
A) World Trade Organization
B) Federation of International Trade Association
