1. Imports and exports enhance international trade, while creating growing opportunities for nations. Which of the following is NOT a benefit of global trade? (Points : 5) Access to factors of productions.
2. Measuring international trade and its impact on individual nations requires __________ (Points : 5) knowledge of balance of trade. 3. Foreign _________________ is contracting with foreign suppliers to produce products usually at a fraction of the cost of domestic production. (Points : 5) outsourcing
4. International trade provides businesses with access to new customers through (Points : 5) outsourcing, importing, exporting, licensing, franchising, and foreign direct investment.
5. _________ is buying products from overseas markets that are manufactured overseas. (Points : 5) Importing
6. Foreign _____________ involves a firm buying the rights to produce, promote, and use the domestic firm’s trademark/patents in a defined geographical area as long as there is agreement on specific operating procedures. (Points : 5) franchising
7. If trade restrictions among nations were eliminated (Points : 5) competition would increase, resulting in lower prices and increased choices for consumers.
8. A(n) ____________ is an agreement among two or more two companies to join forces to pursue specific opportunities without actually merging their operations. (Points : 5) joint venture acquisition
9. Language, customs, educational background, social values, and religious holidays need to be understood and respected by foreign businesses in considering (Points : 5) sociocultural differences.
10. Key infrastructure challenges to consider when entering a foreign market include (Points : 5) laws and regulations the government creates. transportation, communication, energy, and finance.
11. A nation’s legal system (Points : 5) suffices as the ethical framework for a business. provides a starting point for examining ethical standards. always provides clear-cut guidance as to whether an action is ethical. has little relevance to an organization’s ethical standards.
12. A nation’s legal system provides businesses with ______________ when they establish a code of ethics. (Points : 5) a starting point very
13. Business ethics and individual ethics differ based on the fact that (Points : 5) . business ethics focus on the application of right and wrong in a business setting, while individual ethics are one’s personal standards of right and wrong.
14. The function of laws in the United States is to establish and enforce ____________ that apply to everyone in society. (Points : 5) standards ethical norms
15. Developing and promoting environmentally sound products and practices to gain a competitive edge is called (Points : 5) . green marketing. consumerism.
16. The Foreign Corrupt Practices Act (Points : 5) forbids U.S. companies from offering bribes when engaged in foreign business transactions.
17. The goal of ______________ is to meet the needs of the current generation without harming the ability of future generations to meet their needs. (Points : 5) sustainable development
18. A unifying written document that articulates a firm’s ethical priorities is described as the company’s compliance manual__________ . (Points : 5)
19. Corporate philanthropy_______________ is the donation of time and/or money to nonprofit organizations in an effort to support charitable causes. (Points : 5) responsibility remuneration marketing
20. ____________________ is the social movement supporting the consumer’s right to be informed, to be safe, to choose, and be heard. (Points : 5) Consumerism