MBA 776 - International Marketing (9-12): Questions
With Verified Solutions
What are the stages of economic development? Correct Answer - MDCs -
more developed countries
LDCs - less developed countries
LLDCs - least developed countries
NICs - newly industrialized countries.
What are big emerging markets? Correct Answer - Countries like Brazil,
Russia, India, China, and South Africa (BRICS). Who's economies are growing
rapidly. Experts predict they will be key players in global trade even after
scrutiny by trading partners.
What is NAFTA? What does it do? Correct Answer - NORTH AMERICAN
FREE TRADE AGREEMENT; removed trade barriers between US, Mexico, and
Canada, making it easier for trade
What is Mercosur? Correct Answer - an organization that promotes
trade and economic cooperation among the southern and eastern countries of
South America
What is DR-CAFTA? Who are the member states? Correct Answer -
Central America Dominican Republic United States Free Trade Agreement
-US, El Salvador, Honduras, Guatemala, Nicaragua, Costa Rica, Dominican
Republic
-eliminate tariffs and other trade barriers to facilitate free trade and
investment among member states
-allows for regional use of yarn and fabric
What is CARICOM? Correct Answer - Caribbean Community and
Common Market
Seek stronger ties with other groups in Latin America and has signed a trade
agreement with Cuba
Reasons for Economic Union Correct Answer - -Economic Factors
-Political Factors
-Geographic and Temporal Proximity
With Verified Solutions
What are the stages of economic development? Correct Answer - MDCs -
more developed countries
LDCs - less developed countries
LLDCs - least developed countries
NICs - newly industrialized countries.
What are big emerging markets? Correct Answer - Countries like Brazil,
Russia, India, China, and South Africa (BRICS). Who's economies are growing
rapidly. Experts predict they will be key players in global trade even after
scrutiny by trading partners.
What is NAFTA? What does it do? Correct Answer - NORTH AMERICAN
FREE TRADE AGREEMENT; removed trade barriers between US, Mexico, and
Canada, making it easier for trade
What is Mercosur? Correct Answer - an organization that promotes
trade and economic cooperation among the southern and eastern countries of
South America
What is DR-CAFTA? Who are the member states? Correct Answer -
Central America Dominican Republic United States Free Trade Agreement
-US, El Salvador, Honduras, Guatemala, Nicaragua, Costa Rica, Dominican
Republic
-eliminate tariffs and other trade barriers to facilitate free trade and
investment among member states
-allows for regional use of yarn and fabric
What is CARICOM? Correct Answer - Caribbean Community and
Common Market
Seek stronger ties with other groups in Latin America and has signed a trade
agreement with Cuba
Reasons for Economic Union Correct Answer - -Economic Factors
-Political Factors
-Geographic and Temporal Proximity
