MBA 776 Exam 3: Questions With Complete Solutions
Why do time zones matter in trade? Correct Answer - They impact
communications and logistics
Three major trade regions Correct Answer - Americas, Europe-Africa,
Asia-Pacifica
3 UN economic classifications Correct Answer - MDCs, LDCs, LLDCs
What is a Newly Industrialized Country (NIC)? Correct Answer - A
rapidly industrializing country moving toward free-market policies
Examples of NICs Correct Answer - Brazil, Mexico, South Korea
Most important factor for marketing Correct Answer - A country's
economic level
3 key drivers of growth Correct Answer - Political stability,
legal/economic reforms, entrepreneurship
What does economic growth change? Correct Answer - Consumer
demand and market size
How do legal/economic reforms help? Correct Answer - encourage
business & investment
Why privatize state businesses? Correct Answer - Increases efficiency,
reduces gov costs
How does infrastructure impact growth? Correct Answer - Supports
trade, transport, & business
Why do large markets attract investment? Correct Answer - More
consumers, lower tariffs
How does IT fuel growth? Correct Answer - Cuts costs, speeds
innovation
, Why is mobile tech important? Correct Answer - Reduces need for
expensive telecom infrastructure
3 benefits of industrialization Correct Answer - jobs, stability, economic
expansion
What are BEMs Correct Answer - Big Emerging Markets
Examples of BEMs Correct Answer - Brazil, India, China, Mexico
BRICs countries Correct Answer - Brazil, Russia, India, China, South
Africa
Why are BRICs powerful? Correct Answer - Big, fast-growing, resource-
rich
How do BEMs drive global trade? Correct Answer - High demand for
capital & goods
3 key USMCA changes Correct Answer - stronger labor laws, better IP
protections, digital trade rules
Mercosur goal Correct Answer - Free movement of goods, labor, &
capital
Merocsur Members Correct Answer - Argentina, Brazil, Paraguay,
Uruguay
DR-CAFTA goal Correct Answer - Boost trade & jobs in Central America
FTAA Purpose Correct Answer - Create a free trade zone for all Americas
(never implemented)
What is a multinational market region? Correct Answer - A group of
countries working together for economic benefit by reducing trade barriers
and increasing cooperation
Why do countries form economic unions? Correct Answer - To enhance
trade, economic growth, and stability while reducing conflict
Why do time zones matter in trade? Correct Answer - They impact
communications and logistics
Three major trade regions Correct Answer - Americas, Europe-Africa,
Asia-Pacifica
3 UN economic classifications Correct Answer - MDCs, LDCs, LLDCs
What is a Newly Industrialized Country (NIC)? Correct Answer - A
rapidly industrializing country moving toward free-market policies
Examples of NICs Correct Answer - Brazil, Mexico, South Korea
Most important factor for marketing Correct Answer - A country's
economic level
3 key drivers of growth Correct Answer - Political stability,
legal/economic reforms, entrepreneurship
What does economic growth change? Correct Answer - Consumer
demand and market size
How do legal/economic reforms help? Correct Answer - encourage
business & investment
Why privatize state businesses? Correct Answer - Increases efficiency,
reduces gov costs
How does infrastructure impact growth? Correct Answer - Supports
trade, transport, & business
Why do large markets attract investment? Correct Answer - More
consumers, lower tariffs
How does IT fuel growth? Correct Answer - Cuts costs, speeds
innovation
, Why is mobile tech important? Correct Answer - Reduces need for
expensive telecom infrastructure
3 benefits of industrialization Correct Answer - jobs, stability, economic
expansion
What are BEMs Correct Answer - Big Emerging Markets
Examples of BEMs Correct Answer - Brazil, India, China, Mexico
BRICs countries Correct Answer - Brazil, Russia, India, China, South
Africa
Why are BRICs powerful? Correct Answer - Big, fast-growing, resource-
rich
How do BEMs drive global trade? Correct Answer - High demand for
capital & goods
3 key USMCA changes Correct Answer - stronger labor laws, better IP
protections, digital trade rules
Mercosur goal Correct Answer - Free movement of goods, labor, &
capital
Merocsur Members Correct Answer - Argentina, Brazil, Paraguay,
Uruguay
DR-CAFTA goal Correct Answer - Boost trade & jobs in Central America
FTAA Purpose Correct Answer - Create a free trade zone for all Americas
(never implemented)
What is a multinational market region? Correct Answer - A group of
countries working together for economic benefit by reducing trade barriers
and increasing cooperation
Why do countries form economic unions? Correct Answer - To enhance
trade, economic growth, and stability while reducing conflict
