FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 3: Doing Business in Global Markets

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 111

Multiple Choice

Review LaterAdd Note

Review Later

Which of the following sociocultural forces can have a significant impact on global business operations?

A) Religion
B) Universal sales standards
C) Single-phase marketing
D) Global marketing

E) A) and B)
F) A) and C)

Correct Answer

verified

Show Answer

Question 112

Multiple Choice

Review LaterAdd Note

Review Later

Due to a nation's weak currency,people may have to fall back on ___________.

A) exporting
B) bartering
C) importing
D) factoring

E) All of the above
F) A) and B)

Correct Answer

verified

Show Answer

Question 113

Multiple Choice

Review LaterAdd Note

The concept of free trade means:

U.S.exports boost the U.S.economy.

Ozark Bikes,Inc.has information that its bicycles will sell in Vietnam.In order to sell its products in Vietnam,the Vietnamese government requires Ozark Bikes to enter into a partnership, (also known as a joint venture)with a domestic firm.Both firms will assume costs and risk in the venture. A joint venture is a partnership in which companies (often from two different countries)join to undertake a major project.Governments sometimes require foreign firms to enter into joint ventures as a condition of doing business in their countries.

A disadvantage of creating a foreign subsidiary is the loss of control over technology and expertise used in the production of the product.

The All-Sports Gaming Company has avoided contract manufacturing abroad due to the significant start-up costs in buying land and setting up its own manufacturing plants. Contract manufacturing involves the production of goods by a foreign company.The benefit is the avoidance of heavy start-up costs.The company entering into contract manufacturing agreements does not purchase the foreign manufacturer.

Which of the following terms describes the set of values,beliefs,rules,language,and institutions held by a specific group of people?

The _____________ is the total value of a nation's exports compared to its imports measured over a specific period of time.

The Dabble Corporation wants to begin exporting its products.The company needs advice about how to get started,as well as trade-finance support.The federal government has established _____________ to help companies like Dabble Corporation.

A major goal of the Mercosur common market consisting of several South American countries is to develop a common currency.

Idle Time Gaming,Inc.needed silicon wafers that it knew could be mass produced efficiently by Silicon City,Inc. ,a start-up firm in India.The Indian company needed MSG (metallurgical grade silicon) in order to make the wafers which it knew it could get from a Chinese firm.The Chinese firm (mostly owned by the Chinese government) agreed to supply the silicon to the Indian company if it could get a certain quantity of gaming hardware from Idle Time.This beneficial exchange is described as:

If two nations have a dispute over an international patent,the World Trade Organization may be asked to mediate and provide a decision within one year's time. The World Trade Organization (WTO)was established by 152 member nations to mediate trade disputes among member nations.The goal is to provide a decision with a year,as opposed to languishing for years as in the past.

Brett,a U.S.student,is preparing for a trip to Thailand in the near future.He read in the Wall Street Journal that the dollar has strength against the Thai Baht (Thailand's currency) .Which of the following would be an exchange that would indicate this currency situation?

A joint venture is a partnership in which two or more companies join to undertake a major project.All parties commit financing and risk to the project.

From a sociocultural perspective,U.S.business people are often accused of ethnocentricity.

If you travel to Mexico and the exchange rate is 12 pesos for one U.S.dollar,the peso is said to have strength against the dollar because you can get so many more pesos that you can dollars. If you can get more of the currency you are trading for than you must give up of your own currency,your currency has strength against the foreign currency.

Which of the following represents the value of one nation's currency relative to the currencies of another country?

Compared to many other industrialized countries,the United States has historically exported a much higher percentage of its products than other countries do.

Some governments initiate restrictive standards that detail exactly how a product must be sold in a country.Trade experts call these restrictions _______________.