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Means any business that operates across international boundaries and includes the sale of goods and services between international business countries.
It refers to a philosophy that an individual should have freedom in his or her economic and political pursuits.
These are typically defined on the basis of characteristics such as family background, occupation, and income.
Flexible manufacturing technologies enable firms to produce a wide variety of end products at a unit cost that traditionally would require mass production of a standardized output.
How can foreign direct investment (FDI) be best described?
~Hasnewline~Governments can restrict outward FDI through limiting capital outflows, manipulate tax rules, or outright prohibit FDI.
~Hasnewline~The 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.
Follower of Islam is called a Muslim.
~Hasnewline~An employee who actively searches out foreign markets for the firm’s goods and services.
~Hasnewline~Better quality control helps firms reduce costs because:
It 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.
Free 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.
Low-cost communication networks such as the World Wide Web are not helping to create electronic global marketplaces.
Large societal forces that affects organizations close factors are known as microenvironment.
Which of the following statements would a mercantilist not agree with?
Firms will prefer concentrated production when:
Culture is constant; it does not evolves over time.
It is committed to preserving peace through international cooperation and collective security.
Globalization always go as planned.
Communications slowed down transportation of goods.
International business refers to the shift toward a more integrated world economy.
_________________ refers to nonverbal communication.
Outsourcing is a process that is limited to manufacturing enterprises.
Segmentation on basis of values and attitudes and behavioral patterns is an example of
Factors that affect Company's ability to maintain customer relationships are known as
t is not legal to charge interest under Islamic laws therefore Islamic banks have a difficult time earning a profit.
One of the biggest dangers confronting a company that goes abroad for the first time is the danger of being ill-informed.
The basic principles of Judaism, Christianity, and Islam have nothing in common.
This 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.
According to the theory of comparative advantage, which of the following is not a reason why countries trade?
A company does not need a large size to facilitate, and benefit from, the globalization of markets.
A company can increase its growth rate by taking goods or services developed at home and selling them internationally.
Tariff Jumping occurs when
The mixing of world cultures through different ethnicities, religions and nationalities has increased with advanced communication, transportation and technology is called cross- culture.
Most successful products are those which are
A Firm’s Strategy can be defined as the actions that managers take to attain the goals of the firm.
Regulations affecting FDI and trade can't affect the appropriateness of specific countries.
It was established to maintain order in the international monetary system.
In terms of attaining a competitive advantages with support activities can be as a important as, if not more important than, the “secondary” activities of the firm.
Tastes and preferences of consumers in different nations are beginning to converge on some global norm.
Which of the following is one of the three ways that a company in one country can serve (sell its product to) a market in a foreign country?
~Hasnewline~Adopting flexible manufacturing technologies can help improve the competitive position of firms by allowing the firm to customize products to meet the demands of small customer groups in different national markets.
~Hasnewline~Tariffs are considered to be the oldest form of trade policy.
Gold and silver are the currency of trade in mid 16th century.
If 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
~Hasnewline~In-house production makes sense when substantial investments in specialized assets (assets whose value is contingent upon a particular relationship persisting) are required to manufacture a component.
It is primarily responsible for policing the world trading systems and making sure nation-state adhere to the rules laid down in trade treaties.
All are determinants of culture except for:
Segmentation of international markets on basis of common languages, religions and customs is example of economic factors.
~Hasnewline~Ricardo states that comparative advantage arises from differences in national factor endowments.
~Hasnewline~Heckscher and Ohlin predict that countries will export goods that make intensive use of locally abundant factors.
The _______________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
Strategy to integrate larger gains with smaller losses involved
Zero sum game is one in which a gain by one country results in a loss by another.
The theory of international trade also teaches us that due to differences in factor costs, certain countries have an absolute advantage in the production of certain product.
The rise of Islamic fundamentalism is portrayed as a response to the alienation produced by modernization.
Communist states practice representative election.
~Hasnewline~Import quotas requires some specific fraction of a good to be produced domestically.
The internet has been a major force facilitating international trade in services.
~Hasnewline~A payment to a domestic producer can be:
Demand conditions is one of the determinants of National Competitive Advantage.
Foreign policy decision makers for spreading their information they rely on
According to this religion, suffering originates in people's desires for pleasure.
It refers to the extent to which individuals can move out of the strata into which they are born.
Which of the following is not considered as GATT criticism?
The lowering of trade barriers made globalization of markets and production a theoretical possibility.
It refers to the sourcing of goods and services from location around the globe to take advantage of national differences in the cost of production.
Which of the following is not one of the benefits of inward FDI for a host country?
Decentralized production will be favored when:
Substantial impediments such as barriers to foreign direct investment make it difficult for firms to achieve the optimal dispersion of their productive activities to locations around the globe.
According to the theory of comparative advantage, a country will export a good only if
~Hasnewline~Capitalism views trade as a zero-sum game.
Maan live in The Philippines and she wants to mak a greenfield investment in Singapore, which is a developing country. What type of investment does Maan want to make?
The __________ 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.
The __________________refers to the merging of historically distinct and separate national markets into one huge global marketplace.
The emphasis on the individual in the United States may raise the costs ofdoing business due to its adverse impact on managerial stability and cooperation.
The following are work-related values except for:
~Hasnewline~A 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.
It is based on a detailed set of laws organized into codes.
~Hasnewline~Production refers to activities involved in creating a value for a product.
The regular and repeated way in which something happens or is done is called pattern.
~Hasnewline~Firms prefer to acquire new assets because greenfield investments are quicker to execute than mergers and acquisitions.
Firm that operates in more than one country gains production, marketing and financial advantages that are not available to domestic competitors is called expanding firm.
When deciding where to locate production facilities, firms must consider country factors alone.
Like the economic system of a country, the legal system is influenced by prevailing political system.
It is where all productive activities are privately owned, as opposed to being owned by the state.
Diminishing returns imply that when a firm already has significant value built into its product offering, increasing value by relatively small amount requires significant additional costs.
Secondary activities have to do with the design, creation, and delivery the product: its marketing and its support and after sales service.
As firms follow each other around the world, greater diversity replaces uniformity.
~Hasnewline~A firm should consider manufacturing a part in-house if the firm is more efficient at that a production activity than any other enterprise.
The ________________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.
Terrorism represents one of the major drivers to world peace and economic progress in the 21st century.
~Hasnewline~New 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.
Which of the following jobs is“offshorable”?
Low-cost communication networks such as the World Wide Web are not helping to create electronic global market places.
In positioning statement, first thing that must be stated is differentiation.
It refers to systematic reductions in production costs that have been observe the occur over the life of a product.
Which of the following is not one of the costs of inward FDI for a host country?
Which of the following is not one of the policies recommended for dealing with outsourcing/offshoring in the United States?
In 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.
~Hasnewline~International trade allows a country to specialize in the manufacture and export of products and services that it can produce efficiently.
~Hasnewline~Foreign direct investment (FDI) occurs when a firm invests directly in new facilities to produce and/or market in a foreign country.
Offshoring is
The Six Sigma quality improvement program aims to:
~Hasnewline~If the value-to-weight ratio is high, it is not practical to produce the product in a single location and export it.
A company has to be a major multinational corporation to facilitate, and benefit from, the globalization of markets.
It is the most widely practiced religion in the world.
The following are technological factors when deciding where to locate production except for:
An international business is any firm that engages in international trade or investment.
Set of organizations interdependent on each other that help in making market offerings available to customer are called marketing channels.
The following are political arguments for intervention except:
~Hasnewline~Offshore investments is the establishment of a wholly new operation in a foreign country.
If a German manufacturer of household appliances wants to take advantage of the cheaper labor available in the Czech Republic, which of the following actions will not serve that purpose?
Marketing system in which two or more companies join together at one level to seek new marketing opportunity is classified as vertical marketing system.
It refers to its basic social organization.
~Hasnewline~The flow of Foreign Direct Investment is the total accumulated value of foreign-owned assets at a given time.
Upon meeting a foreign business executive, a Japanese executive will holdhis business card in both hands and bow while presenting the card to theforeigner. Bowing is a way to avoid touching.
~Hasnewline~A person or firm who represents businesses in foreign transactions in return for a negotiated percentage of each transaction’s value.
It is primarily responsible for policing the word trading systems and making sure nation-state adhere to the rules laid down in the trade treaties.
~Hasnewline~Individual customization implies that a firm may be able to customize its product range to suit the needs of different customer groups without bearing a cost penalty.
A person, who offers informal reviews or advice about specific category is called as
Consumer's seek, for answer of 'how we like to view ourselves' is a concept named by
It 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.
Targeting affluent customers with luxurious goods is an example of
Free trade is beneficial because it allows country to specialize in the manufacture and export of products and services that it can produce efficiently.
_________________ is based on tradition, precedent, and custom.
Highly automated storage house to receive products from various suppliers, fill area efficiently and send orders to customers efficiently is classified as distribution center.
~Hasnewline~Making component parts in-house (vertical integration) is attractive because of the following except:
Economic freedom does not necessarily equate with political freedom.
___________may be defined as a system of shared beliefs and rituals that are concerned with the realm of the sacred.
Segmentation of international markets on basis of monetary regulations is an example of political and legal factors.
________________is based on tradition, precedent, and custom.
In 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.
It is built around a comprehensive ethical code that sets down guidelines for relationships with others.
In many Asian societies, the individual is the basic building block of social organization.
~Hasnewline~Firms should locate manufacturing activities where economic, political, and cultural conditions, including relative factor costs, are most conducive to the performance of that activity.
~Hasnewline~Six Sigma is a direct descendant of total quality management (TQM).
~Hasnewline~The term flexible manufacturing technology or lean production covers a range of manufacturing technologies that are designed to:
What is the relationship between foreign direct investment (FDI) and multinational enterprises (MNEs)?
~Hasnewline~Adam 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.
Which of the following best defines a multinational corporation?
The 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.
~Hasnewline~Mercantilism suggests that it is in a country’s best interest to maintain a trade surplus -to export more than it imports.
The IMF is often seen as the lender of last resort to nation-states whose economies are in turmoil.
~Hasnewline~Trade is a positive sum game.
What is the connection, if any, between comparative advantage (CA) and foreign direct investment (FDI)?
~Hasnewline~Government policy can't affect demand through product standards.
It refers to a set of moral principles, or values, that are used to guide and shape behavior.
~Hasnewline~The strategic objectives of the production and logistics function are to lower costs to increase product quality by eliminating defective products from both the supply chain and the manufacturing process.
Currently, the most global of markets are for industrial goods and materials that serve a universal need the world over.
Transnational company is a large global firm that operates in a number of countries.
Outsourcing is
The internet has been a major force facilitating international trade services.
Anti-dumping policies defined variously as selling goods in a foreign market below production costs and below fair market value.
~Hasnewline~Logistics refers to the procurement and physical transmission of material through the supply chain, from suppliers to customers.
International business refers to the shift toward a more integrated and interdependent world economy.
It is where citizens' right to freedom of expression and organization, a free media, and regular elections are all denied.
By political system we mean the system of government in a nation.
Nations that invest more in education will have lower growth rates because an educated population is less productive.
The following are needed in organizing for international operations except:
How does offshoring affect an industry’s productivity?
The central message of collectivism is that individual economic and political freedoms are the ground rules on which a society should be based.
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