The sale of government-owned economic resources to private
operators is called ________.
the
price mechanism
laissez-faire
economics
privatization
guanxi

Question 2. Question
:
In most failed centrally planned economies ________.
market
conditions helped determine who produced various goods
prices
of products were a function of supply and demand
central
planning agencies specified production goals and decided prices
central
planners paid attention to efficiency improvement

Question 3. Question
:
The practice of mercantilism rested upon each of the
following except ________.
enhanced
trade deficits
government
intervention
colonialism
trade
surpluses

Question 4. Question
:
Who proposed the theory of absolute advantage?
David
Ricardo
Adam
Smith
Bertil
Ohlin
Raymond
Vernon

Question 5. Question
:
Comparative advantage theory focuses on which of the
following?
Maximization
of production and consumption
Logistics
planning
Resource
assessment
Creation
of trade surpluses

Question 6. Question
:
The focus of factor proportions theory is on the ________.
productivity
of the production process
cost-effectiveness
of the production process
use
of abundant production factors
use
of expensive production factors

Question 7. Question
:
Which element of national competitive advantage theory
divides resources into two groups, basic and advanced?
Demand
conditions
Factor
conditions
Related
and supporting industries
Firm,
strategy, structure, and rivalry

Question 8. Question
:
Which of the following is not a problem associated with the
infant industry argument?
It
can cause domestic companies to become overly innovative.
Once
protection of an industry is given, it can be politically difficult to
eliminate.
Protection
can do more economic harm than good.
Governments
might have difficulty identifying the industries worth protecting.

Question 9. Question
:
Which of the following is not an example of an instrument
that government uses to promote trade?
Tariffs
Subsidies
Export
financing
Foreign
trade zones

Question 10. Question
:
Which of the following adds to the cost of an imported
product by levying an additional tax upon it?
Tariffs
Quotas
Local
content requirements
Embargoes

Question 11. Question
:
The ________ altered U.S. trade policy from a stance of free
trade to one of protectionism.
General
Agreement on Trade and Tariffs
Multi-Fibre
Arrangement
Normalized
Trade Relations Act
Smoot-Hawley
Act

Question 12. Question
:
Which of the following are main drivers of foreign direct
investment?
Diversity
and telecommunications
Telecommunications
and transportation
Globalization
and mergers and acquisitions (M&A)
Diversity
and globalization

Question 13. Question
:
A market that is said to operate at peak efficiency and
where goods are readily and easily available is said to be a(n) ________.
perfect
market
eclectic market
imperfect
market
greenfield
market

Question 14. Question
:
The main difference between a free-trade area and a customs
union is that the members of a customs union ________.
agree
to treat trade with all nonmember nations in a similar manner
agree
to the free movement of all factors of production
harmonize
their tax, monetary, and fiscal policies and create a common currency
accept
a common stance on economic and political policies regarding nonmember nations

Question 15. Question
:
The strategy formulation process involves both ________.
planning
and strategy
strategy
and structure
planning
and marketing
strategy
and production

Question 16. Question
:
Which of these strategies are appropriate for companies in
industries where buyer preferences do not converge across national borders?
Retrenchment
Global
Multinational
Stability

Question 17. Question
:
A ________ strategy can cause a company to overlook important
differences in buyer preferences from one market to another.
global
retrenchment
multidomestic
multinational

Question 18. Question
:
Collection and analysis of information used to assist
managers in making informed decisions is known as ________.
data
collection
market
research
secondary
market research
market
analysis

Question 19. Question
:
Which of the following is not a difficulty associated with
conducting international market research?
Availability
of data
Comparability
of data
Cultural
differences
Economic
differences

Question 20. Question
:
The process of obtaining information that already exists
within the company or that can be obtained from outside sources is called
________.
secondary
market research
logistics
management
primary
market research
invalid
market research

Question 21. Question
:
When an exporter ships merchandise and later bills the
importer for its value, it is using a(n) ________ type of export/import
financing.
advance
payment
open
account
letter
of credit
documentary
collection

Question 22. Question
:
Which of the following is not a form of investment entry?
Strategic
alliance
Wholly
owned subsidiary
Joint
venture
Turnkey
project

Question 23. Question
:
Brand names are central to a product’s ________.
personality
raw
materials
reproducibility
inventory
planning

Question 24. Question
:
Countries that top the list for the portion of their markets
comprised of counterfeits include each of the following except ________.
China
India
Russia
United
Kingdom

Question 25. Question
:
Which of the following is a promotional strategy designed to
pressure channel members to carry a product and promote it to final users?
Pull
strategy
Adaptive
channel strategy
Push
strategy
End
distribution strategy

Question 26. Question
:
Examples of pull strategies include each of the following
except ________.
mass
media advertising
direct
marketing techniques
free
trial packages
encouraging
good retail visibility

Question 27. Question
:
The physical path a product follows on its way to customers
is called a ________.
distribution
channel
promotional
mix path
value
density
just-in-time
path

Question 28. Question
:
The process of assessing a company’s ability to produce
enough output to satisfy market demand is called ________.
location
economics
capacity
planning
process
planning
facilities
layout planning

Question 29. Question
:
The psychological process of readapting to one’s home
culture is called ________.
culture
shock
reverse
recruitment
reverse
culture shock
expatriate
failure
Points Received: 0 of 1

Question 30. Question
:
The senior manager recommends that Hafstrom obtain auto
parts from a country where production activity generates more value than it
could generate elsewhere. He is recommending taking advantage of which of the
following?
Just-in-time
manufacturing processes
Japanese
manufacturing precision
German
auto technology
Location
economies

The sale of government-owned economic resources to private
operators is called ________. the
price mechanism laissez-faire
economics privatization guanxi Question 2. Question
: In most failed centrally planned economies ________. market
conditions helped determine who produced various goods prices
of products were a function of supply and demand central
planning agencies specified production goals and decided prices central
planners paid attention to efficiency improvement Question 3. Question
: The practice of mercantilism rested upon each of the
following except ________. enhanced
trade deficits government
intervention colonialism trade
surpluses Question 4. Question
: Who proposed the theory of absolute advantage? David
Ricardo Adam
Smith Bertil
Ohlin Raymond
Vernon Question 5. Question
: Comparative advantage theory focuses on which of the
following? Maximization
of production and consumption Logistics
planning Resource
assessment Creation
of trade surpluses Question 6. Question
: The focus of factor proportions theory is on the ________. productivity
of the production process cost-effectiveness
of the production process use
of abundant production factors use
of expensive production factors Question 7. Question
: Which element of national competitive advantage theory
divides resources into two groups, basic and advanced? Demand
conditions Factor
conditions Related
and supporting industries Firm,
strategy, structure, and rivalry Question 8. Question
: Which of the following is not a problem associated with the
infant industry argument? It
can cause domestic companies to become overly innovative. Once
protection of an industry is given, it can be politically difficult to
eliminate. Protection
can do more economic harm than good. Governments
might have difficulty identifying the industries worth protecting. Question 9. Question
: Which of the following is not an example of an instrument
that government uses to promote trade? Tariffs Subsidies Export
financing Foreign
trade zones Question 10. Question
: Which of the following adds to the cost of an imported
product by levying an additional tax upon it? Tariffs Quotas Local
content requirements Embargoes Question 11. Question
: The ________ altered U.S. trade policy from a stance of free
trade to one of protectionism. General
Agreement on Trade and Tariffs Multi-Fibre
Arrangement Normalized
Trade Relations Act Smoot-Hawley
Act Question 12. Question
: Which of the following are main drivers of foreign direct
investment? Diversity
and telecommunications Telecommunications
and transportation Globalization
and mergers and acquisitions (M&A) Diversity
and globalization Question 13. Question
: A market that is said to operate at peak efficiency and
where goods are readily and easily available is said to be a(n) ________. perfect
market eclectic market imperfect
market greenfield
market Question 14. Question
: The main difference between a free-trade area and a customs
union is that the members of a customs union ________. agree
to treat trade with all nonmember nations in a similar manner agree
to the free movement of all factors of production harmonize
their tax, monetary, and fiscal policies and create a common currency accept
a common stance on economic and political policies regarding nonmember nations Question 15. Question
: The strategy formulation process involves both ________. planning
and strategy strategy
and structure planning
and marketing strategy
and production Question 16. Question
: Which of these strategies are appropriate for companies in
industries where buyer preferences do not converge across national borders? Retrenchment Global Multinational Stability Question 17. Question
: A ________ strategy can cause a company to overlook important
differences in buyer preferences from one market to another. global retrenchment multidomestic multinational Question 18. Question
: Collection and analysis of information used to assist
managers in making informed decisions is known as ________. data
collection market
research secondary
market research market
analysis Question 19. Question
: Which of the following is not a difficulty associated with
conducting international market research? Availability
of data Comparability
of data Cultural
differences Economic
differences Question 20. Question
: The process of obtaining information that already exists
within the company or that can be obtained from outside sources is called
________. secondary
market research logistics
management primary
market research invalid
market research Question 21. Question
: When an exporter ships merchandise and later bills the
importer for its value, it is using a(n) ________ type of export/import
financing. advance
payment open
account letter
of credit documentary
collection Question 22. Question
: Which of the following is not a form of investment entry? Strategic
alliance Wholly
owned subsidiary Joint
venture Turnkey
project Question 23. Question
: Brand names are central to a product’s ________. personality raw
materials reproducibility inventory
planning Question 24. Question
: Countries that top the list for the portion of their markets
comprised of counterfeits include each of the following except ________. China India Russia United
Kingdom Question 25. Question
: Which of the following is a promotional strategy designed to
pressure channel members to carry a product and promote it to final users? Pull
strategy Adaptive
channel strategy Push
strategy End
distribution strategy Question 26. Question
: Examples of pull strategies include each of the following
except ________. mass
media advertising direct
marketing techniques free
trial packages encouraging
good retail visibility Question 27. Question
: The physical path a product follows on its way to customers
is called a ________. distribution
channel promotional
mix path value
density just-in-time
path Question 28. Question
: The process of assessing a company’s ability to produce
enough output to satisfy market demand is called ________. location
economics capacity
planning process
planning facilities
layout planning Question 29. Question
: The psychological process of readapting to one’s home
culture is called ________. culture
shock reverse
recruitment reverse
culture shock expatriate
failure Points Received: 0 of 1 Question 30. Question
: The senior manager recommends that Hafstrom obtain auto
parts from a country where production activity generates more value than it
could generate elsewhere. He is recommending taking advantage of which of the
following? Just-in-time
manufacturing processes Japanese
manufacturing precision German
auto technology Location
economies