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 Flashcards

Question 1

True/False

Review LaterAdd Note

Review Later

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

A) True
B) False

Correct Answer

verified

Show Answer

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

The benefits of protective tariffs are:

A) they increase the revenues of the government that has implemented them.
B) they decrease the cost of the product to the consumer (end-user) .
C) they help develop friendlier trade relations with loyal trading partners. Both parties are protected.
D) they protect domestic jobs by encouraging cost-sensitive consumers to purchase domestic products.

E) None of the above
F) C) and D)

Correct Answer

verified

D

Question 3

Multiple Choice

Review LaterAdd Note

U.S. recording studios are feeling the pinch in profits due to the fact that artists' music is copied and sold overseas within 24 hours of the music selling in the U.S. market. As a student who is now aware of the challenges businesses face in global trade, which of the following statements do you think is an accurate representation of this situation?

The quinoa seed is in high demand in wealthier countries such as the U.S. and Japan. Approximately 97% of all quinoa production comes from small farmers in Bolivia and Peru who farm at high elevations. The seed is considered highly nutritious and is sold to markets in other countries. The seed is now considered an important __________ for Bolivia and Peru.

The fee paid to a firm in a licensing agreement that gives another firm the right to manufacture their product or use its trademark is called:

Explain and provide examples of the difference between comparative and absolute advantage in global markets.

China's one-party political system, its past human rights abuses, and issues related to counterfeiting of products continue to concern some U.S. firms about doing business there.

A risk unique to firms with direct investment in a foreign county is the potential takeover of the firm's assets by the government of that country. This takeover is called a(n) :

The concept of free trade means:

The outlook for growth in global trade appears to be:

Bartering is the exchange of goods or services for other goods or services with no exchange of money traded.

Which of the following is included when calculating a country's balance of payments?

The complete ban on the sale of Cuban cigars in the United States is an example of an import quota.

The Foreign Corrupt Practices Act of 1978 created an advantage for American businesspeople to compete in global markets.

The European Union created a single monetary unit to replace the national currencies of 12 member nations. This common currency is known as the:

Effective human resource management styles are transferable from one culture to another.

If visitors from Germany spend money at Florida's Walt Disney World, it will increase the U.S.'s unfavorable balance of payments.

From a sociocultural perspective, foreign companies have experienced a good amount of success in adapting their products and services to the U.S. market.

Free trade results in a mutually beneficial exchange between and among nations.

A United States firm recently won a large contract with a company in Bangladesh by providing government officials and company officials with American cars and promises to provide monetary gifts in exchange for the business. Fortunately, U.S. law, under the Foreign Corrupt Practices Act, permits U.S. companies to operate in this manner.