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MGMT 450 > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

What are 4 things that are considered vital info when dealing with business internationally?

A

basic geography, culture, market characteristics, and politics

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2
Q

What are the marketplaces of North America?

A

US, Canada, Mexico, Caribbean Islands, Greenland, Central America

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3
Q

Discuss the marketplace of the US.

A

it has the largest economy, 3rd largest population, and 4th largest land mass
it is the prime market for exports, has a stable political system and a strong legal system

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4
Q

Who are our export partners?

Import?

A

(1) Canada, Mexico, China, Germany, UK

(1) China, Canada, Mexico, Japan, Germany

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5
Q

The invoicing currency is what?

A

the dollar; it is the currency in which the sale of goods and services is denominated

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6
Q

What is flight capital?

A

money sent out of a politically or economically stable country to one perceived as safe

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7
Q

Discuss Canada

A

2nd largest land mass, 80% of the population is concentrated along the US Canadian boarder, has rich natural resources, had the single largest bilateral trade relationship until China, largest supplier of foreign energy to the US

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8
Q

Who are Canada’s export partners?

Import?

A

US, UK, and Japan

US, China, and Mexico

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9
Q

What are advantages of Canada?

Disadvantages or issues?

A

proximity to the US market, stale legal and political systems, and excellent infrastructure and education systems
Quebec separatist movement and bilingual labling laws

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10
Q

Discuss Mexico

A

largest Spanish speaking nation, participant in NAFTA along with US and Canada, trade agreement with EU,risk-drug cartels

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11
Q

Who are Mexico’s export partners?

import?

A

US Canada and Germany

US China and Japan

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12
Q

Central America and the Caribbean

A

economic development hindered by political instability, inadequate educational systems, weak middle class, poverty, and import limitations by the US

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13
Q

What are the marketplaces of Western Europe

A

european member union countries and other countries in western europe

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14
Q

how many european union member countries are there?

A

28

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15
Q

How does gov’t intervention compare in the EU with that of the US?

A

the EU has higher gov’t intervention

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16
Q

The EU is compose mainly of democracies?

A

true

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17
Q

How many of the EU use the Euro?

A

17

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18
Q

Who of the EU has the strongest economy and sometimes considered the most important member?

A

Germany

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19
Q

Many of the EU countries have a high GDP?

A

true

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20
Q

Who is the important financial center for the EU?

A

UK-London specifically

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21
Q

What are some things France is know for?

A

foreign policies, human rights, defense, labor rights, agricultural subsidies

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22
Q

Some high-income non-EU members are:

A

Norway, Switzerland, Liechtenstein, Iceland, Monaco

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23
Q

Who is part of the EFTA

A

Norway, Liechtenstein, Iceland and the EU

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24
Q

Who is part of the EEA?

A

Norway, Switzerland, Liechtenstein, Iceland

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25
Q

Marketplaces of Eastern Europe include:

A

Estonia, Latvia, Lithuania, Armenia, Georgia, Azerbaijan, Russia, Belarus, Moldova, Ukrain

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26
Q

Who are the Baltic countries in Eastern Europe

A

Estonia, Latvia, and Lithuania

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27
Q

Who are the caucasus?

A

Georgia, Armenia, and Azerbaijan

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28
Q

Who has the largest land mass?

A

Russia

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29
Q

Who is Russia’s president?

A

Putin

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30
Q

Who is the prime market of oil to Europe?

A

Russia

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31
Q

When did Russia join the WTO?

A

August 2012

32
Q

Germany is the 2nd largest exporter of goods behind whom?

A

China

33
Q

Germany is the __ largest economy.

A

4th

34
Q

Former Soviet Union countries have undergone the switch from…

A

communism to capitalism

totalitarianism to democracy

35
Q

Asia is home to how many people?

A

over half the worlds population

36
Q

How much of the worlds GDP does Asia produce?

A

1/4

37
Q

Who are the Central Asian Republics?

A

Kazakhstan, Uzbekistan, Tajikistan, Turkmenistan, Kyrgyzstan

38
Q

Who are the marketplaces of Asia?

A

Japan, Australia and New Zealand, The Four Tigers, China, India, Afghanistan and Central Asian Republics, Southeast Asian Countries

39
Q

What is keiretsu?

A

large families of interrelated Japanese companies with a bank at its center

40
Q

What is Sogo Sosha

A

export trading company that the Japanese use in combination with keiretsu to market to other countries

41
Q

Who was it that rose from WW!! ashes?

A

Japan

42
Q

What is MEIT?

A

Ministry of Economy, Trade and Industry; focuses on steel and shipbuilding and has now evolved into automobiles, consumer electronics, and machinery as well

43
Q

What does keiretsu do to other marketplaces?

A

makes it more difficult for them to penetrate the Japanese market

44
Q

What has Japan been criticized of doing?

A

unfair trading practices to market its exports and and used nontarrif barriers to restrict imports to its domestic market

45
Q

Australia is rich in what and low in what?

A

natural resources and low in labor force

46
Q

New Zealand has 2 main Islands:

A

North populous Island and scenic less temperate South Island

47
Q

What does New Zealand do?

A

leader in reliance of market-based policies; exports dairy, meat, and wool primarily

48
Q

Who are the 4 Tigers?

A

Hong Kong, Singapore, Taiwan, South Korea

49
Q

What are the 4 tigers often called?

A

newly industrialized countries

50
Q

What is something that brings the 4 Tigers together?

A

export promotion strategy

51
Q

What was born of the Cold War?

A

communist North Korea and capitalist South Korea

52
Q

What is Chaebol?

A

family centered conglomerate (cluster of corporations)

53
Q

South Korea tried to follow the Japanese practice of what?

A

discouragement of imports, gov’t leadership of the economy, and reliance on large economic combines for industrialization

54
Q

What failed the Chaebols?

A

the Asian currency crisis

55
Q

Where is Taiwan?

A

it is a small island off the coast of China; also known as the Republic of China

56
Q

What is Taiwan’s history with China?

A

It has had tensions with China and claimed its independence from there but is now seeking closer economic ties with China

57
Q

Taiwan’s focus on production are what?

A

high-value added industries such as electronics and automotive production

58
Q

Singapore, also known as…

A

the little engine that could and the Republic of Singapore

59
Q

Singapore is a former what?

A

British colony

60
Q

who is the 2nd largest populator?

A

India with 1.16 billion people

61
Q

Is India democratic?

A

yes they are the largest democracy

62
Q

India is a former British Colony?

A

true

63
Q

Is India poor or rich?

A

poor

64
Q

What is red tape? What is it creating in India?

A

rules and regulations that make getting anything done a hastle
it is causing confusion for some foreign investors and therefore if not trimmed could have very serious effects

65
Q

Post WWII industries consisted mainly of what?

A

key industries such as power, transportation, and heavy industry

66
Q

What are some problems in India?

A

it is corrupt and its infrastructure is overburdened

67
Q

Who are the Southeast Asian Countries?

A

Thailand, Malaysia, and Indonesia

68
Q

What do a lot of countries use the southeast asian countries for?

A

production platforms because of the low labor costs

69
Q

The growth of countries using them as production platforms increases what?

A

FDI

70
Q

What is Afghanistan’s infrastructure?

A

poor

71
Q

What are some characteristics about Afghanistan?

A

poor infrastructure, political instability, mineral wealth, corruption

72
Q

Afghanistan is a high risk country but who invests a lot in them?

A

China

73
Q

Africa is composed of how many countries?

A

54

74
Q

What are Africa’s major economies?

A

South Africa, Ivory Coast, Algeria, Nigeria

75
Q

The Middle East has been called what?

A

cradle of civilization

76
Q

Who are the Middle East’s major economies?

A

Saudi Arabia, Kuwait, UAE

77
Q

Who is one of the largest copper deposits?

A

Afghanistan

MGMT 450 (4 decks)

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