Question 1

Just-in-time systems were created in ________.

Accepted Answer

A)   the United States
B)   Japan
C)   Germany
D)   ChinaE) B) and C)
F) All of the above

Question 2

What is a core competency? How do firms benefit from their core competencies?

Accepted Answer

A core competency is a distinc...

Question 3

Emerging markets include countries such as the United States and Britain that are leading the globalization charge.

Accepted Answer

A) True 
 B)False

Question 4

Trade between nations can be traced back as far as ________.

Accepted Answer

A)   2000 BC
B)   500 BC
C)   1200
D)   1600E) A) and D)
F) A) and C)

Question 5

International business is more complex than domestic business.

Accepted Answer

A) True 
 B)False

Question 6

Individuals should most likely study international business to ________.

Accepted Answer

A)   comply with graduate school certification requirements
B)   ensure that an employer has a global online presence
C)   remain current on the latest business methods
D)   obtain bilingual business experienceE) All of the above
F) C) and D)

Question 7

The ratio of international trade to economic activity has ________ since 1950.

Accepted Answer

A)   risen slightly
B)   risen dramatically
C)   fallen slightly
D)   remained about the sameE) All of the above
F) B) and D)

Question 8

The International Olympic Committee is a multinational enterprise.

Accepted Answer

A) True 
 B)False  False

Question 9

Walt Disney permits a German clothing manufacturer to market children's pajamas embroidered with Mickey Mouse in return for a percentage of company sales. This is an example of ________.

Accepted Answer

A)   franchising
B)   licensing
C)   leasing
D)   piracyE) B) and D)
F) None of the above

Question 10

Globalization has allowed firms to expand into markets that, until recently, were insulated from the international marketplace.

Accepted Answer

A) True 
 B)False

Question 11

Kraft purchased all of the common stock of Cadbury PLC. This is an example of ________.

Accepted Answer

A)   foreign portfolio investment
B)   foreign direct investment
C)   international expansion
D)   global licensingE) All of the above
F) C) and D)

Question 12

What types of business activities are undertaken by MNCs?

Accepted Answer

MNCs buy resources in a variet...

Question 13

Which of the following is a primary reason that firms acquire resources and supplies from other countries?

Accepted Answer

A)   comply with trade regulations
B)   minimize resource competition
C)   decrease shipping and handling costs
D)   obtain items unavailable in home countryE) C) and D)
F) A) and B) D

Question 14

International nonprofit organizations are called ________.

Accepted Answer

A)   multinational corporations
B)   multinational organizations
C)   multinational enterprises
D)   multinational nonprofitsE) A) and B)
F) All of the above

Question 15

Which of the following is the most likely reason that firms globalize?

Accepted Answer

A)   boredom with existing markets
B)   the divesting of low-cost resources
C)   leveraging core competencies
D)   competing for public prestigeE) None of the above
F) C) and D)

Question 16

International licensing occurs when a firm in one country authorizes a firm in another country to use its operating systems, brand name, trademark, and logo in return for a royalty payment.

Accepted Answer

A) True 
 B)False

Question 17

Selling products made in one's own country for use or resale in other countries is known as importing.

Accepted Answer

A) True 
 B)False  False

Question 18

The World Trade Organization is the successor to the General Agreement on Tariffs and Trade.

Accepted Answer

A) True 
 B)False

Question 19

The primary benefit of worldwide partnership is the right to use the Olympic logo on all advertising by the sponsor.

Accepted Answer

A) True 
 B)False

Question 20

Since World War II changes in two key areas have facilitated significant international expansion by firms. What are the two key areas of change?

Accepted Answer

Changes in the political environment and...

Exam 1: An Overview of International Business

Just-in-time systems were created in ________.

Correct AnswerverifiedShow Answer

What is a core competency? How do firms benefit from their core competencies?

Correct AnswerverifiedA core competency is a distinc...View AnswerShow Answer

Emerging markets include countries such as the United States and Britain that are leading the globalization charge.

Correct AnswerverifiedShow Answer

Trade between nations can be traced back as far as ________.

Correct AnswerverifiedShow Answer

International business is more complex than domestic business.

Correct AnswerverifiedShow Answer

Individuals should most likely study international business to ________.

Correct AnswerverifiedShow Answer

The ratio of international trade to economic activity has ________ since 1950.

Correct AnswerverifiedShow Answer

The International Olympic Committee is a multinational enterprise.

Correct AnswerverifiedFalse

Walt Disney permits a German clothing manufacturer to market children's pajamas embroidered with Mickey Mouse in return for a percentage of company sales. This is an example of ________.

Correct AnswerverifiedShow Answer

Globalization has allowed firms to expand into markets that, until recently, were insulated from the international marketplace.

Correct AnswerverifiedShow Answer

Kraft purchased all of the common stock of Cadbury PLC. This is an example of ________.

Correct AnswerverifiedShow Answer

What types of business activities are undertaken by MNCs?

Correct AnswerverifiedMNCs buy resources in a variet...View AnswerShow Answer

Which of the following is a primary reason that firms acquire resources and supplies from other countries?

Correct AnswerverifiedD

International nonprofit organizations are called ________.

Correct AnswerverifiedShow Answer

Which of the following is the most likely reason that firms globalize?

Correct AnswerverifiedShow Answer

International licensing occurs when a firm in one country authorizes a firm in another country to use its operating systems, brand name, trademark, and logo in return for a royalty payment.

Correct AnswerverifiedShow Answer

Selling products made in one's own country for use or resale in other countries is known as importing.

Correct AnswerverifiedFalse

The World Trade Organization is the successor to the General Agreement on Tariffs and Trade.

Correct AnswerverifiedShow Answer

The primary benefit of worldwide partnership is the right to use the Olympic logo on all advertising by the sponsor.

Correct AnswerverifiedShow Answer

Since World War II changes in two key areas have facilitated significant international expansion by firms. What are the two key areas of change?

Correct AnswerverifiedChanges in the political environment and...View AnswerShow Answer

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A core competency is a distinc...
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False

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MNCs buy resources in a variet...
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False

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Changes in the political environment and...
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