International Business and Trade

International Business and Trade

This introductory course focuses on the core concepts and techniques for entering the international marketplace. Emphasis is on the effect of sociocultural, demographic, economic, technological, and political-legal factors in the foreign trade environment. As an introductory survey course, we will cover a variety of topics to illustrate the unique nature of international business including the patterns of world trade, currency exchange and international finance, globalization of the firm, international marketing, and operating procedures of the multinational enterprise.



AnswersQuestions
A company has to be a major multinational corporation to facilitate, and benefit from, the
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
FALSEInternational business refers to the shift toward a more integrated and interdependent world economy.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSEGlobalization always go as planned.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
TRUEThe IMF is often seen as the lender of last resort to nation-states whose economies are in
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
TRUEThe internet has been a major force facilitating international trade in services.
TRUEAn international business is any firm that engages in international trade or investment.
FALSECommunications slowed down transportation of goods.
TRUETastes and preferences of consumers in different nations are beginning to converge on
TRUESubstantial impediments such as barriers to foreign direct investment make it difficult for
TRUETransnational company is a large global firm that operates in a number of countries.
FALSEInternational business refers to the shift toward a more integrated and interdependent world economy.
World Trade OrganizationIt is primarily responsible for policing the world trading systems and making sure nation-state adhere to the rules laid down in trade treaties.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
Globalization of ProductionIt refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost of production.
TRUEThe internet has been a major force facilitating international trade in services.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
FALSECommunications slowed down transportation of goods.
TRUETastes and preferences of consumers in different nations are beginning to converge on
TRUEThe IMF is often seen as the lender of last resort to nation-states whose economies are in
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
Globalization of MarketsThe _______________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
TRUETransnational company is a large global firm that operates in a number of countries.
United NationsIt is committed to preserving peace through international cooperation and collective security.
none of the aboveIt was established to maintain order in the international monetary system.
FALSEGlobalization always go as planned.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
TRUESubstantial impediments such as barriers to foreign direct investment make it difficult for
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
TRUEAn international business is any firm that engages in international trade or investment.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
TRUEThe internet has been a major force facilitating international trade in services.
United NationsIt is committed to preserving peace through international cooperation and collective security.
TRUEThe IMF is often seen as the lender of last resort to nation-states whose economies are in
TRUETransnational company is a large global firm that operates in a number of countries.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
FALSEInternational business refers to the shift toward a more integrated and interdependent world economy.
FALSEGlobalization always go as planned.
World Trade OrganizationIt is primarily responsible for policing the world trading systems and making sure nation-state adhere to the rules laid down in trade treaties.
TRUEAn international business is any firm that engages in international trade or investment.
Globalization of ProductionIt refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost of production.
FALSECommunications slowed down transportation of goods.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
Globalization of MarketsThe _______________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
TRUETastes and preferences of consumers in different nations are beginning to converge on
TRUESubstantial impediments such as barriers to foreign direct investment make it difficult for
none of the aboveIt was established to maintain order in the international monetary system.
TRUEThe internet has been a major force facilitating international trade in services.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
FALSEGlobalization always go as planned.
TRUETransnational company is a large global firm that operates in a number of countries.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
United NationsIt is committed to preserving peace through international cooperation and collective security.
FALSEInternational business refers to the shift toward a more integrated and interdependent world economy.
TRUETastes and preferences of consumers in different nations are beginning to converge on
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
none of the aboveIt was established to maintain order in the international monetary system.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSECommunications slowed down transportation of goods.
World Trade OrganizationIt is primarily responsible for policing the world trading systems and making sure nation-state adhere to the rules laid down in trade treaties.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
Globalization of ProductionIt refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost of production.
TRUEThe IMF is often seen as the lender of last resort to nation-states whose economies are in
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
TRUESubstantial impediments such as barriers to foreign direct investment make it difficult for
TRUEAn international business is any firm that engages in international trade or investment.
Globalization of MarketsThe _______________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
TRUEThe IMF is often seen as the lender of last resort to nation-states whose economies are in
FALSEInternational business refers to the shift toward a more integrated and interdependent world economy.
TRUETransnational company is a large global firm that operates in a number of countries.
TRUESubstantial impediments such as barriers to foreign direct investment make it difficult for
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
TRUEAn international business is any firm that engages in international trade or investment.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
TRUEThe internet has been a major force facilitating international trade in services.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
FALSEGlobalization always go as planned.
FALSECommunications slowed down transportation of goods.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
TRUETastes and preferences of consumers in different nations are beginning to converge on
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
FALSEThe mixing of world cultures through different ethnicities, religions and nationalities has increased with advanced communication, transportation and technology is called cross- culture.
TRUEThe emphasis on the individual in the United States may raise the costs of
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUEThe regular and repeated way in which something happens or is done is called pattern.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
mixed economyIn a ________, certain sectors of the economy of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
TRUEt is not legal to charge interest under Islamic laws therefore Islamic banks
FALSEOutsourcing is a process that is limited to manufacturing enterprises.
TRUEGold and silver are the currency of trade in mid 16th century.
legal systemThe ________________of a country refers to the rules, or laws, that regulate behavior along with the process by which the law are enforced and through which redress for grievances is obtained.
TRUEBy political system we mean the system of government in a nation.
civil lawIt is based on a detailed set of laws organized into codes.
common law________________is based on tradition, precedent, and custom.
TRUEFollower of Islam is called a Muslim.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
FALSECommunist states practice representative election.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUEFollower of Islam is called a Muslim.
FALSECommunist states practice representative election.
TRUEBy political system we mean the system of government in a nation.
TRUEThe emphasis on the individual in the United States may raise the costs of
TRUEThe regular and repeated way in which something happens or is done is called pattern.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
FALSEOutsourcing is a process that is limited to manufacturing enterprises.
FALSEThe mixing of world cultures through different ethnicities, religions and nationalities has increased with advanced communication, transportation and technology is called cross- culture.
TRUEGold and silver are the currency of trade in mid 16th century.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
TRUEt is not legal to charge interest under Islamic laws therefore Islamic banks
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEt is not legal to charge interest under Islamic laws therefore Islamic banks
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
civil lawIt is based on a detailed set of laws organized into codes.
FALSECommunist states practice representative election.
legal systemThe ________________of a country refers to the rules, or laws, that regulate behavior along with the process by which the law are enforced and through which redress for grievances is obtained.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
TRUEThe emphasis on the individual in the United States may raise the costs of
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
FALSEOutsourcing is a process that is limited to manufacturing enterprises.
mixed economyIn a ________, certain sectors of the economy of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
common law________________is based on tradition, precedent, and custom.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEGold and silver are the currency of trade in mid 16th century.
TRUEFollower of Islam is called a Muslim.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUEThe regular and repeated way in which something happens or is done is called pattern.
TRUEBy political system we mean the system of government in a nation.
FALSEThe mixing of world cultures through different ethnicities, religions and nationalities has increased with advanced communication, transportation and technology is called cross- culture.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
TRUEGold and silver are the currency of trade in mid 16th century.
TRUEThe emphasis on the individual in the United States may raise the costs of
TRUEt is not legal to charge interest under Islamic laws therefore Islamic banks
TRUEBy political system we mean the system of government in a nation.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUEFollower of Islam is called a Muslim.
TRUEThe regular and repeated way in which something happens or is done is called pattern.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
FALSEOutsourcing is a process that is limited to manufacturing enterprises.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
legal systemThe ________________of a country refers to the rules, or laws, that regulate behavior along with the process by which the law are enforced and through which redress for grievances is obtained.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUEt is not legal to charge interest under Islamic laws therefore Islamic banks
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEGold and silver are the currency of trade in mid 16th century.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
TRUEThe regular and repeated way in which something happens or is done is called pattern.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
TRUEFollower of Islam is called a Muslim.
FALSEThe mixing of world cultures through different ethnicities, religions and nationalities has increased with advanced communication, transportation and technology is called cross- culture.
mixed economyIn a ________, certain sectors of the economy of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
civil lawIt is based on a detailed set of laws organized into codes.
TRUEBy political system we mean the system of government in a nation.
common law________________is based on tradition, precedent, and custom.
FALSEOutsourcing is a process that is limited to manufacturing enterprises.
FALSECommunist states practice representative election.
TRUEThe emphasis on the individual in the United States may raise the costs of
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
IslamThis religion requires unconditional acceptance of the uniqueness, power, and authority of God and the understanding that the objective of life is to fulfill the dictates of His will in the hope of admission to paradise.
glass ceilingThe following are work-related values except for:
TRUETastes and preferences of consumers in different nations are beginning to converge on
social strataThese are typically defined on the basis of characteristics such as family background, occupation, and income.
FALSECulture is constant; it does not evolves over time.
civil lawIt is based on a detailed set of laws organized into codes.
Religion___________may be defined as a system of shared beliefs and rituals that are concerned with the realm of the sacred.
The correct answers are: Confucianism, BuddhismIt is built around a comprehensive ethical code that sets down guidelines for relationships with others.
TRUEGold and silver are the currency of trade in mid 16th century.
Globalization of ProductionIt refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of production.
social mobilityIt refers to the extent to which individuals can move out of the strata into which they are born.
FALSENations that invest more in education will have lower growth rates because an educated population is less productive.
TRUEBy political system we mean the system of government in a nation.
common law_________________ is based on tradition, precedent, and custom.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
World Trade OrganizationIt is committed to preserving peace through international cooperation and collective security.
unspoken language_________________ refers to nonverbal communication.
TRUEThe internet has been a major force facilitating international trade services.
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
genderAll are determinants of culture except for:
International Monetary FundIt was established to maintain order in the international monetary system.
TRUEOne of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
TRUEThe rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
BuddhismAccording to this religion, suffering originates in people's desires for pleasure.
TRUEAn international business is any firm that engages in international trade or investment.
HinduismIt would be dubbed more a way of life than a religion. Followers believe that a moral force in society requires the acceptance of certain responsibilities.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
mixed economyIn a _________________, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
TRUEThe emphasis on the individual in the United States may raise the costs of
ethical systemsIt refers to a set of moral principles, or values, that are used to guide and shape behavior.
FALSEInternational business refers to the shift toward a more integrated world economy.
World Trade OrganizationIt is primarily responsible for policing the word trading systems and making sure nation-state adhere to the rules laid down in the trade treaties.
FALSEIn many Asian societies, the individual is the basic building block of social organization.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
social structureIt refers to its basic social organization.
FALSETerrorism represents one of the major drivers to world peace and economic progress in the 21st century.
legal systemThe __________ of a country refers to the rules, or laws, that regulate behavior along with the processes by which the law are enforced and through which redress for grievances is obtained.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
TRUEEconomic freedom does not necessarily equate with political freedom.
FALSECommunist states practice representative election.
Globalization of MarketsThe __________________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
ChristianityIt is the most widely practiced religion in the world.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEOne of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
TRUEThe rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
TRUEThe emphasis on the individual in the United States may raise the costs of
FALSECommunist states practice representative election.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
TRUEBy political system we mean the system of government in a nation.
FALSENations that invest more in education will have lower growth rates because an educated population is less productive.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
TRUETastes and preferences of consumers in different nations are beginning to converge on
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
TRUEGold and silver are the currency of trade in mid 16th century.
TRUEAn international business is any firm that engages in international trade or investment.
TRUEEconomic freedom does not necessarily equate with political freedom.
FALSECulture is constant; it does not evolves over time.
TRUEThe internet has been a major force facilitating international trade services.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
FALSETerrorism represents one of the major drivers to world peace and economic progress in the 21st century.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
FALSEInternational business refers to the shift toward a more integrated world economy.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
FALSEIn many Asian societies, the individual is the basic building block of social organization.
ethical systemsIt refers to a set of moral principles, or values, that are used to guide and shape behavior.
TRUEOne of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
TRUEThe emphasis on the individual in the United States may raise the costs of
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
HinduismIt would be dubbed more a way of life than a religion. Followers believe that a moral force in society requires the acceptance of certain responsibilities.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
unspoken language_________________ refers to nonverbal communication.
International Monetary FundIt was established to maintain order in the international monetary system.
FALSECulture is constant; it does not evolves over time.
FALSECommunist states practice representative election.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
genderAll are determinants of culture except for:
FALSEInternational business refers to the shift toward a more integrated world economy.
The correct answers are: Confucianism, BuddhismIt is built around a comprehensive ethical code that sets down guidelines for relationships with others.
FALSEIn many Asian societies, the individual is the basic building block of social organization.
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
FALSETerrorism represents one of the major drivers to world peace and economic progress in the 21st century.
Globalization of MarketsThe __________________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
TRUEThe rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
World Trade OrganizationIt is committed to preserving peace through international cooperation and collective security.
TRUEGold and silver are the currency of trade in mid 16th century.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUETastes and preferences of consumers in different nations are beginning to converge on
TRUEAn international business is any firm that engages in international trade or investment.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
ChristianityIt is the most widely practiced religion in the world.
glass ceilingThe following are work-related values except for:
social structureIt refers to its basic social organization.
TRUEBy political system we mean the system of government in a nation.
IslamThis religion requires unconditional acceptance of the uniqueness, power, and authority of God and the understanding that the objective of life is to fulfill the dictates of His will in the hope of admission to paradise.
BuddhismAccording to this religion, suffering originates in people's desires for pleasure.
civil lawIt is based on a detailed set of laws organized into codes.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
legal systemThe __________ of a country refers to the rules, or laws, that regulate behavior along with the processes by which the law are enforced and through which redress for grievances is obtained.
Globalization of ProductionIt refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of production.
TRUEEconomic freedom does not necessarily equate with political freedom.
social strataThese are typically defined on the basis of characteristics such as family background, occupation, and income.
mixed economyIn a _________________, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
FALSENations that invest more in education will have lower growth rates because an educated population is less productive.
social mobilityIt refers to the extent to which individuals can move out of the strata into which they are born.
World Trade OrganizationIt is primarily responsible for policing the word trading systems and making sure nation-state adhere to the rules laid down in the trade treaties.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
Religion___________may be defined as a system of shared beliefs and rituals that are concerned with the realm of the sacred.
common law_________________ is based on tradition, precedent, and custom.
TRUEThe internet has been a major force facilitating international trade services.
common law_________________ is based on tradition, precedent, and custom.
TRUEBy political system we mean the system of government in a nation.
TRUETastes and preferences of consumers in different nations are beginning to converge on
totalitarianismIt is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
ChristianityIt is the most widely practiced religion in the world.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
TRUEThe emphasis on the individual in the United States may raise the costs of
TRUEOne of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
FALSEInternational business refers to the shift toward a more integrated world economy.
International Monetary FundIt was established to maintain order in the international monetary system.
FALSECommunist states practice representative election.
ethical systemsIt refers to a set of moral principles, or values, that are used to guide and shape behavior.
mixed economyIn a _________________, certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership and government planning.
The correct answers are: Confucianism, BuddhismIt is built around a comprehensive ethical code that sets down guidelines for relationships with others.
TRUEEconomic freedom does not necessarily equate with political freedom.
BuddhismAccording to this religion, suffering originates in people's desires for pleasure.
Religion___________may be defined as a system of shared beliefs and rituals that are concerned with the realm of the sacred.
FALSETerrorism represents one of the major drivers to world peace and economic progress in the 21st century.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
legal systemThe __________ of a country refers to the rules, or laws, that regulate behavior along with the processes by which the law are enforced and through which redress for grievances is obtained.
social structureIt refers to its basic social organization.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
market economyIt is where all productive activities are privately owned, as opposed to being owned by the state.
IslamThis religion requires unconditional acceptance of the uniqueness, power, and authority of God and the understanding that the objective of life is to fulfill the dictates of His will in the hope of admission to paradise.
FALSEIn many Asian societies, the individual is the basic building block of social organization.
HinduismIt would be dubbed more a way of life than a religion. Followers believe that a moral force in society requires the acceptance of certain responsibilities.
FALSECulture is constant; it does not evolves over time.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
TRUEThe internet has been a major force facilitating international trade services.
Globalization of ProductionIt refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of production.
genderAll are determinants of culture except for:
World Trade OrganizationIt is committed to preserving peace through international cooperation and collective security.
TRUEAn international business is any firm that engages in international trade or investment.
unspoken language_________________ refers to nonverbal communication.
glass ceilingThe following are work-related values except for:
TRUEGold and silver are the currency of trade in mid 16th century.
social mobilityIt refers to the extent to which individuals can move out of the strata into which they are born.
TRUEThe rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
social strataThese are typically defined on the basis of characteristics such as family background, occupation, and income.
FALSENations that invest more in education will have lower growth rates because an educated population is less productive.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
civil lawIt is based on a detailed set of laws organized into codes.
Globalization of MarketsThe __________________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
individualismIt refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
World Trade OrganizationIt is primarily responsible for policing the word trading systems and making sure nation-state adhere to the rules laid down in the trade treaties.
TRUEThe lowering of trade barriers made globalization of markets and production a theoretical possibility.
TRUEOne of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
TRUEBy political system we mean the system of government in a nation.
FALSEA company has to be a major multinational corporation to facilitate, and benefit from, the
FALSEAs firms follow each other around the world, greater diversity replaces uniformity.
TRUECurrently, the most global of markets are for industrial goods and materials that serve a
FALSEInternational business refers to the shift toward a more integrated world economy.
TRUEThe rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
FALSEThe central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
FALSEThe basic principles of Judaism, Christianity, and Islam have nothing in common.
FALSEIn many Asian societies, the individual is the basic building block of social organization.
FALSECulture is constant; it does not evolves over time.
TRUEGold and silver are the currency of trade in mid 16th century.
TRUEEconomic freedom does not necessarily equate with political freedom.
TRUELike the economic system of a country, the legal system is influenced by prevailing political system.
FALSETerrorism represents one of the major drivers to world peace and economic progress in the 21st century.
TRUEThe internet has been a major force facilitating international trade services.
TRUEThe emphasis on the individual in the United States may raise the costs of
FALSENations that invest more in education will have lower growth rates because an educated population is less productive.
TRUEA company does not need a large size to facilitate, and benefit from, the globalization of markets.
TRUETastes and preferences of consumers in different nations are beginning to converge on
FALSECommunist states practice representative election.
TRUEAn international business is any firm that engages in international trade or investment.
FALSELow-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
FALSEUpon meeting a foreign business executive, a Japanese executive will hold
FALSERicardo states that comparative advantage arises
from differences in national factor endowments.
FALSECapitalism views trade as a zero-sum game.
FALSEAdam Smith argued that a country has
a competitive advantage in
the production of a product when it is more efficient than any other country in
producing it.
TRUEFree trade is beneficial because it allows country
TRUEMercantilism suggests that it is in a country's
best interest to maintain a trade surplus -to export more than it imports.
TRUEHeckscher and
Ohlin predict that countries will
TRUEA country may dominate in the
export of a good simply because it was lucky enough to have one or more firms
among the first to produce that good.
FALSEGovernment policy can't
TRUENew trade theory
suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a
large scale of output) can have important implications for international trade.
TRUEThe theory of comparative
advantage suggests that countries should specialize in the
production of those goods they produce most efficiently and buy goods that they
produce less efficiently from other countries.
FALSEFree trade is a situation where a government attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country.
FALSEThe Leontief Paradox suggests that
TRUEDemand conditions is one of the determinants of National Competitive Advantage.
TRUEZero sum game is
TRUEInternational trade allows
a country
TRUETrade is a positive sum
game.
TRUEDemand conditions is one of the determinants of National Competitive Advantage.
TRUEHeckscher and
Ohlin predict that countries will
TRUEInternational trade allows
a country
FALSEAdam Smith argued that a country has
a competitive advantage in
the production of a product when it is more efficient than any other country in
producing it.
FALSEThe Leontief Paradox suggests that
TRUEA country may dominate in the
export of a good simply because it was lucky enough to have one or more firms
among the first to produce that good.
TRUENew trade theory
suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a
large scale of output) can have important implications for international trade.
TRUEMercantilism suggests that it is in a country's
best interest to maintain a trade surplus -to export more than it imports.
TRUEZero sum game is
TRUEThe theory of comparative
advantage suggests that countries should specialize in the
production of those goods they produce most efficiently and buy goods that they
produce less efficiently from other countries.
TRUETrade is a positive sum
game.
FALSEGovernment policy can't
TRUEFree trade is beneficial because it allows country
FALSERicardo states that comparative advantage arises
from differences in national factor endowments.
TRUEMercantilism suggests that it is in a country's
best interest to maintain a trade surplus -to export more than it imports.
FALSEThe Leontief Paradox suggests that
TRUETrade is a positive sum
game.
TRUEDemand conditions is one of the determinants of National Competitive Advantage.
TRUEA country may dominate in the
export of a good simply because it was lucky enough to have one or more firms
among the first to produce that good.
TRUEInternational trade allows
a country
FALSEAdam Smith argued that a country has
a competitive advantage in
the production of a product when it is more efficient than any other country in
producing it.
FALSEFree trade is a situation where a government attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country.
TRUEZero sum game is
TRUENew trade theory
suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a
large scale of output) can have important implications for international trade.
TRUEFree trade is beneficial because it allows country
TRUEMercantilism suggests that it is in a country's
best interest to maintain a trade surplus -to export more than it imports.
TRUEThe theory of comparative
advantage suggests that countries should specialize in the
production of those goods they produce most efficiently and buy goods that they
produce less efficiently from other countries.
TRUEDemand conditions is one of the determinants of National Competitive Advantage.
FALSEThe Leontief Paradox suggests that
TRUENew trade theory
suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a
large scale of output) can have important implications for international trade.
FALSEGovernment policy can't
TRUEA country may dominate in the
export of a good simply because it was lucky enough to have one or more firms
among the first to produce that good.
TRUEInternational trade allows
a country
TRUETrade is a positive sum
game.
TRUEZero sum game is
TRUEHeckscher and
Ohlin predict that countries will
Exports give a country a political advantage over other countries that export less.According to the theory of comparative advantage, which of the following is not a reason why countries trade?
FALSECapitalism views trade as a zero-sum game.
TRUEA country may dominate in the export of a good simply because it was lucky enough to have one or more firms among the first to produce that good.
FALSEFree trade is a situation where a government attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country.
TRUENew trade theory suggests that the ability of firms to gain economies of scale (unit cost reductions associated with a large scale of output) can have important implications for international trade.
Imports are desirable.Which of the following statements would a mercantilist not agree with?
TRUEThe theory of comparative advantage suggests that countries should specialize in the production of those goods they produce most efficiently and buy goods that they produce less efficiently from other countries.
TRUEFree trade is beneficial because it allows country to specialize in the manufacture and export of products and services that it can produce efficiently.
TRUETrade is a positive sum game.
FALSEAdam Smith argued that a country has a competitive advantage in the production of a product when it is more efficient than any other country in producing it.
The nominal wage rate in country A will have to fallIf all prices in one country (country A) are higher than all prices in another country (B) when compared at the wage rates that happen to prevail in the two countries, and if the countries share the same currency, then if the nominal wage rate in country B remains fixed
TRUEHeckscher and Ohlin predict that countries will export goods that make intensive use of locally abundant factors.
FALSERicardo states that comparative advantage arises from differences in national factor endowments.
All of the above.According to the theory of comparative advantage, a country will export a good only if
FALSEThe Leontief Paradox suggests that as products mature both the location of sales and the optimal production location will change affecting the flow and direction of trade.
TRUEMercantilism suggests that it is in a country's best interest to maintain a trade surplus -to export more than it imports.
TRUEDemand conditions is one of the determinants of National Competitive Advantage.
FALSEGovernment policy can't affect demand through product standards.
TRUEInternational trade allows a country to specialize in the manufacture and export of products and services that it can produce efficiently.
TRUEZero sum game is one in which a gain by one country results in a loss by another.
TRUETariffs are considered to be the oldest form of trade policy.
FALSEThe flow of Foreign Direct Investment is the total accumulated value of
foreign-owned assets at a given time.
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
all of the aboveA payment to a domestic producer can be:
all of aboveMost successful products are those which are
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
none of the aboveWhich of the following is not considered as GATT criticism?
FALSEFirms prefer to acquire new assets because greenfield investments
A firm having someone else do part of what it previously did itself.Outsourcing is
opinion leaderA person, who offers informal reviews or advice about specific category is called as
FALSEImport quotas requires some specific fraction of a good to
be produced domestically.
cancellation principleStrategy to integrate larger gains with smaller losses involved
TRUEAnti-dumping policies d
Global warmingThe following are political arguments for intervention except:
FALSEOffshore investments is the establishment of a wholly new operation in a foreign
country.
TRUEForeign direct investment (FDI) occurs when a firm
invests directly in new facilities to produce and/or market in a foreign
country.
MediaForeign policy decision makers for spreading their information they rely on
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
A firm having someone else do part of what it previously did itself.Outsourcing is
TRUETariffs are considered to be the oldest form of trade policy.
FALSEOffshore investments is the establishment of a wholly new operation in a foreign
country.
all of the aboveA payment to a domestic producer can be:
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
FALSEImport quotas requires some specific fraction of a good to
be produced domestically.
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
Global warmingThe following are political arguments for intervention except:
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
cancellation principleStrategy to integrate larger gains with smaller losses involved
FALSEThe flow of Foreign Direct Investment is the total accumulated value of
foreign-owned assets at a given time.
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
MediaForeign policy decision makers for spreading their information they rely on
TRUEAnti-dumping policies d
TRUEForeign direct investment (FDI) occurs when a firm
invests directly in new facilities to produce and/or market in a foreign
country.
all of aboveMost successful products are those which are
opinion leaderA person, who offers informal reviews or advice about specific category is called as
none of the aboveWhich of the following is not considered as GATT criticism?
FALSEFirms prefer to acquire new assets because greenfield investments
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
opinion leaderA person, who offers informal reviews or advice about specific category is called as
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
A firm having someone else do part of what it previously did itself.Outsourcing is
MediaForeign policy decision makers for spreading their information they rely on
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
all of aboveMost successful products are those which are
Global warmingThe following are political arguments for intervention except:
none of the aboveWhich of the following is not considered as GATT criticism?
all of the aboveA payment to a domestic producer can be:
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
cancellation principleStrategy to integrate larger gains with smaller losses involved
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
A firm having someone else do part of what it previously did itself.Outsourcing is
TRUEForeign direct investment (FDI) occurs when a firm
invests directly in new facilities to produce and/or market in a foreign
country.
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
all of aboveMost successful products are those which are
FALSEThe flow of Foreign Direct Investment is the total accumulated value of
foreign-owned assets at a given time.
MediaForeign policy decision makers for spreading their information they rely on
TRUEAnti-dumping policies d
FALSEFirms prefer to acquire new assets because greenfield investments
cancellation principleStrategy to integrate larger gains with smaller losses involved
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
TRUETariffs are considered to be the oldest form of trade policy.
FALSEImport quotas requires some specific fraction of a good to
be produced domestically.
Global warmingThe following are political arguments for intervention except:
all of the aboveA payment to a domestic producer can be:
none of the aboveWhich of the following is not considered as GATT criticism?
opinion leaderA person, who offers informal reviews or advice about specific category is called as
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
FALSEOffshore investments is the establishment of a wholly new operation in a foreign
country.
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
all of aboveMost successful products are those which are
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
FALSEImport quotas requires some specific fraction of a good to
be produced domestically.
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
FALSEThe flow of Foreign Direct Investment is the total accumulated value of
foreign-owned assets at a given time.
MediaForeign policy decision makers for spreading their information they rely on
opinion leaderA person, who offers informal reviews or advice about specific category is called as
TRUETariffs are considered to be the oldest form of trade policy.
TRUEForeign direct investment (FDI) occurs when a firm
invests directly in new facilities to produce and/or market in a foreign
country.
Global warmingThe following are political arguments for intervention except:
FALSEOffshore investments is the establishment of a wholly new operation in a foreign
country.
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
A firm having someone else do part of what it previously did itself.Outsourcing is
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
TRUEAnti-dumping policies d
all of the aboveA payment to a domestic producer can be:
FALSEFirms prefer to acquire new assets because greenfield investments
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
none of the aboveWhich of the following is not considered as GATT criticism?
cancellation principleStrategy to integrate larger gains with smaller losses involved
opinion leaderA person, who offers informal reviews or advice about specific category is called as
Marketing environmentFactors that affect Company's ability to maintain customer relationships are known as
A company that operates in many different countriesWhich of the following best defines a multinational corporation?
ideal self-conceptConsumer's seek, for answer of 'how we like to view ourselves' is a concept named by
She will be creating a new foreign enterpriseMaan live in The Philippines and she wants to mak
all of the aboveA payment to a domestic producer can be:
all of aboveMost successful products are those which are
cancellation principleStrategy to integrate larger gains with smaller losses involved
A firm having someone else do part of what it previously did itself.Outsourcing is
none of the aboveWhich of the following is not considered as GATT criticism?
Global warmingThe following are political arguments for intervention except:
When an investor starts or acquires a business in a foreign countryHow can foreign direct investment (FDI) be best described?
MediaForeign policy decision makers for spreading their information they rely on