GLOBAL BUSINESS A
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1) Making, buying, and selling goods and services within a country is called:
A) international business.
B) global dependency.
C) domestic business.
D) foreign trade.
2) The political stability of a country has ____ on the international business environment.
A) no impact
B) a major impact
C) a minor impact
D) neutral impact
3) Political troubles in a country can:
A) increase revenue for international companies.
B) close down international companies.
C) stimulate international business investment.
D) encourage international companies.
4) The ____ uses natives of the parent country of a business to fill key positions at home and abroad.
A) regiocentric approach
B) geocentric approach
C) polycentric approach
D) ethnocentric approach
5) ____ are people who live and work outside of their native countries.
A) Foreign employees
B) Third-country nationals
C) Parent-country nationals
6) An organization that bonds countries together to allow a free flow of products is called:
A) a monopoly.
B) an industry.
C) a balance of trade agreement.
D) an economic community.
7) Every country faces the economic problem of:
D) limited resources.
8) All of the following are examples of global dependency except:
A) doctors travel to another country to provide health care because there is a shortage of medically-trained professionals in that country.
B) automobiles are manufactured domestically to improve a national economy.
C) a country buys tools from another country because it does not have the technology to make the tools.
D) massive crop failures require buying food from another country.
9) Political instability for a country:
A) has a major negative impact on that country’s economy.
B) presents numerous opportunities for international trade.
C) has no impact on that country’s economy.
D) has a major positive impact on that country’s economy.
10) An economy in which an individual may own and run a private business to make a profit, with little government involvement with the business is a:
A) mixed economy.
B) command economy.
C) market economy.
D) communist economy.
11) A less-developed country probably will not have:
A) an emphasis on agriculture and mining
B) low economic wealth
C) a highly educated population
D) poor housing and health care
12) A major consumer end result of international business is:
A) a change in taxes.
B) smaller selection of stores for consumers to select.
C) a greater variety of buying choices.
D) fewer buying choices.
13) The forces of supply and demand are the major influence on prices in:
A) an oligopoly.
B) pure competition.
C) free enterprise.
D) a duty-free market.
14) All of the following are part of a management information system plan except:
A) organizing information.
B) obtaining information.
C) distributing reports to managers.
D) planning cash flow.
15) Many developing countries must continue to use manual production systems because:
A) it was the earliest means of production.
B) machines would replace workers and lead to high unemployment.
C) they may not be able to afford the initial cost of machinery.
D) handmade items are considered more valuable than machine-made items.
16) What is the problem for franchisors when adapting to differences in foreign markets?
A) decreases the possibility of using a master franchise.
B) increases the ease by which the transferred asset can be pirated.
C) more adaptation to the foreign market, less need for franchisor.
D) franchisor receives a lower percentage of franchisee's sales.
17) There are four possible modes of foreign market entry:
A) exporting, licensing, joint venture, foreign direct investment.
B) exporting, importing, joint venture, franchising importing.
C) joint venture, foreign direct investment, franchising, importing.
D) importing, licensing, franchising, foreign direct investment.
18) Which of the following would be an example of a management contract?
A) Boeing building airports in Dubai.
B) Nike allowing a company in Japan to use its logo on merchandise.
C) General Electric operating a plant on behalf of the Australian government.
D) Toyota giving rights to a distributor in the United States to do official maintenance to its vehicles
19) Tariffs ___ of imports.
A) equalize the price
B) discourage the purchase
C) decrease the price
D) encourage the purchase
20) ___ is when a company buys land or other resources in another country.
A) Management contracting
B) Foreign direct investment
C) Joint venture
D) Wholly-owned subsidiary
21) ____ account for the major portion of sales in the U.S. economy.
A) Multinational companies
B) Sole proprietorships
22) Investors in foreign companies may have to pay a higher _____ for the insurance policy due to greater risk.
D) retail price
23) When determining what country to expand operations to, officers and managers of companies must consider "cost drivers". These include each of the following except:
A) potential for economies of scale.
C) customer needs.
D) location of resources.
24) The method of international business that has the lowest risk is:
B) a joint venture.
C) foreign direct investment.
D) indirect exporting.
25) A company can have a competitive advantage if it:
A) produces items that are not saturated in the market.
B) has about the same manufacturing costs as other companies in the market.
C) builds the best reputation for quality of all companies in the market.
D) produces a comparable product at a higher cost but more effectively.
26) A____ is an agreement between two or more companies from different countries to share a business project.
A) joint venture
B) foreign direct investment
27) What is the name of the globally-accepted wireless standard for sending alphanumeric messages of up to 160 characters?
A) short message service
28) The ISO 9000 standard is not based on:
A) strong customer focus.
B) process of continual improvement.
C) implication of top management.
D) government regulation.
29) What do Entrepreneurs do?
A) have little impact on supply and demand
B) create products that change the way people live and conduct business
C) increase unemployment by taking the best jobs for themselves
D) are opposed untested products
30) ____________________groups people together because they hold similar positions in an organization, perform a similar set of tasks, or use the same kind of skills.
A) Coordination division
B) Motivation division
C) Functional division
D) Matrix division
31) A baby chokes on a small piece of plastic that broke off of a toy. The manufacturer of the product can be held liable for damages under
A) strict liability laws.
B) reasonable moral obligations.
C) common law.
32) ____ are laws that have been enacted by a body of lawmakers
A) Civil laws
D) Common laws
33) _____ is a legal system that relies on the accumulation of decisions made in prior cases.
A) Civil law
C) Common law
34) In international law, ___________________ is defined as the legitimate exercise of power and the interpretation of international law by a state.
A) separation of powers
35) A person who copies music and then sells it for reasonable prices to friends would be violating a:
36) Laws and regulations on products coming into the United States are enforced by the:
A) Border Patrol.
D) U.S. Customs Agency.
37) The business subculture for a selected business
A) has a major impact on trade practices with other countries.
B) has little impact on countries that have global dependence.
C) is respected throughout the world.
D) does not influence business standards and behaviors of individuals.
38) Direct eye contact is important in the United States; however, looking away from the eyes of the speaker is considered respectful in
A) South Korea.
39) While body odor is viewed as offensive in the United States, most _____countries view body odors as being natural and distinctive.
A) Africa and Middle Eastern
B) Western European
D) Eastern European
40) The language spoken by the greatest number of people in the world is
41) In a culture with strong business and family ties:
A) nepotism is not a common practice.
B) families do not take their blood ties to work.
C) family members are usually promoted first in a family-owned business.
D) protecting a family member is sometimes less important than a good business decision.
42) Expressions, gestures, and posture that has different meanings in different cultures is referred to as:
43) When language skills are not the same be sure to:
A) use non-specific meanings.
B) disregard body language, only the spoken word is important.
C) tone and accents should not be used for meaning.
D) avoid slang and idioms.
45) All of the following choices are stages of the culture shock process except:
A) acceptance of the new culture.
B) total rejection of the new culture after a lengthy stay there.
C) frustration, anger, or depression.
D) happiness or euphoria.
46) ___ is not a service provided by retailers.
A) Sales staff assistance
B) Product selection
C) Storing and transportation of goods
D) Consumer convenience
47) During the ____ stage of the product life cycle, new competitors with similar or substitute products enter the market.
48) The ____ arranges to ship goods to customers in other countries.
A) export company
D) freight forwarder
49) A(n) ____ product is a standardized item offered in the same form in all countries in which it is sold.
50) Attitudes affect consumer behavior. Attitudes are classified as ___ factors.
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