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Exam 3: Doing Business in Global Markets

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Question 21

True/False

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When a firm agrees to license its product, it gains notoriety but gives up all revenues.

A) True
B) False

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Question 22

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The outlook for growth in global trade appears to be

A) less optimistic than in the past.
B) more interesting yet more challenging every day.
C) unclear and lacking focus.
D) nonexistent.

E) A) and D)
F) B) and C)

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Question 23

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One advantage of franchising is that the parent corporation does not need to concern itself with adapting to the culture of another country.

With GDP of over $658 billion, the common market known as COMESCA is

Explain and provide at least one example of how sociocultural differences can create trade difficulties in world markets.

The value of goods imported into Spain exceeds the value of Spanish exports. This indicates that Spain

When the U.S. provides foreign aid to countries abroad, a balance of payments outflow occurs.

Your college career is coming to an end and you're trying to decide on the last two business electives to take. You are leaning toward international marketing and international financing because you recall reading that Forrester Research estimates millions of jobs will move to global markets in the next 10 years.

In some countries it is customary to pay government officials to secure necessary business contracts and permits. American businesses must follow U.S. law and cannot make these payments according to the

________ is the exchange of merchandise or services for other merchandise or services without the exchange of money.

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

When Anhueser Busch InBev sells Budweiser beer made in St. Louis, MO, to Germany, the sales of its product would be classified as a U.S. ________.

Digital Life Gaming has avoided contract manufacturing its consoles abroad due to the significant start-up costs in buying land and setting up its own manufacturing plants. They have made the right decision.

A company in Mexico recently agreed to trade coal to an American importer in return for American-made cars. This arrangement is an example of

Maria's aunt, Juanita, is cruising in South America. Juanita told Maria she would be glad to buy her some jewelry while in one of the ports. She said she will shop in Santiago, Chile, because the exchange rate would be to her benefit. This means

Effective marketing strategies focus on the product and ignore the sociocultural differences in the global environment.

China is currently one of the three largest exporters in the world today.

Which of the following continents is home to the largest percentage of the world's population?

Only large firms have the resources needed to successfully compete in the global environment.

Which of the following statements is a good prediction of future occurrences in global markets?