Question 1

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

Accepted Answer

A)   License the company's brand name and products to foreign manufacturers.
B)   Contact Sears World Trade to find foreign consumers.
C)   Open new facilities around the world.
D)   Form a joint venture with a complementary company in a foreign country.
E)   Sell the company's products to an export-import merchant.F) None of the above
G) B) and D)

Question 2

____ is the ability to produce a specific product more efficiently than any other product.

Accepted Answer

A)   Absolute advantage
B)   Specialization
C)   Relative advantage
D)   Dominant advantage
E)   Comparative advantageF) A) and D)
G) A) and C)

Question 3

What are the arguments against trade restrictions? Are these arguments valid? Explain.

Accepted Answer

There are several arguments against trad...

Question 4

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

Accepted Answer

A)   licensees.
B)   export agents.
C)   strategic alliances.
D)   trading companies.
E)   countertraders.F) D) and E)
G) A) and B)

Question 5

What might be inferred if a nation has a continual deficit in its balance of payments?

Accepted Answer

A continual deficit in the balance of pa...

Question 6

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Accepted Answer

A)   exporting.
B)   importing.
C)   an embargo.
D)   dropping.
E)   dumping.F) A) and C)
G) A) and E)

Question 7

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Accepted Answer

A)   a company advantage
B)   an absolute advantage
C)   a comparative advantage
D)   an effective manufacturing system
E)   very low labor costsF) A) and E)
G) C) and D)

Exam 3: A: Exploring Global Business

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Correct Answer
verified

What are the arguments against trade restrictions? Are these arguments valid? Explain.

Correct Answer
Answered by ExamLex AI
There are several arguments against trad...
View Answer

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Correct Answer
verified

What might be inferred if a nation has a continual deficit in its balance of payments?

Correct Answer
Answered by ExamLex AI
A continual deficit in the balance of pa...
View Answer

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

Correct Answer
verified

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

Correct Answer
verified

____ is the ability to produce a specific product more efficiently than any other product.

Correct Answer
verified

Exam 3: A: Exploring Global Business

China is selling school supplies in the United States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufacturers to compete. This is referred to as

Correct AnswerverifiedShow Answer

What are the arguments against trade restrictions? Are these arguments valid? Explain.

Correct AnswerAnswered by ExamLex AIThere are several arguments against trad...View AnswerShow Answer

Because Saudi Arabia and Australia have ____, Saudi Arabia can specialize in the production of crude oil and petroleum products, and Australia can specialize in the production of wool.

Correct AnswerverifiedShow Answer

What might be inferred if a nation has a continual deficit in its balance of payments?

Correct AnswerAnswered by ExamLex AIA continual deficit in the balance of pa...View AnswerShow Answer

Ben Schumpert decides his company will start exporting and he wants to start at the most basic level. What action should Ben take to meet his objectives?

Correct AnswerverifiedShow Answer

The newest forms of international business structure developed to create competitive advantage on a worldwide basis are called

Correct AnswerverifiedShow Answer

____ is the ability to produce a specific product more efficiently than any other product.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
There are several arguments against trad...
View Answer

Correct Answer
verified

Correct Answer
Answered by ExamLex AI
A continual deficit in the balance of pa...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified