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International Business > Final FITB > Flashcards

Final FITB Flashcards

1
Q

WTO stands for

A

World Trade Organization

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2
Q

IMF stands for

A

International Monetary Fund

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3
Q

FDI stands for

A

Foreign Direct Investment

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4
Q

International ___ occurs when a firm exports goods or services to consumers in another
country.

A

trade

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5
Q

_____ totalitarianism is found in the states where political power is monopolized by
a party, group, or individual that governs according to religious principles.

A

Theocratic

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6
Q

In a _____ economy, the government plans the goods and services that a country
produces, the quantity in which they are produced, and the prices at which they are sold

A

command

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7
Q

FCPA stands for

A

Foreign Corrupt Practice Act

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8
Q

_____ risk is the likelihood that political forces will cause drastic changes in a
country’s business environment that adversely affect the profit and other goals of a
business enterprise.

A

Political

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9
Q

_____ involves removing legal restrictions to the free play of markets, the
establishment of private enterprises, and the manner in which private enterprises operate

A

Deregulation

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10
Q

GDP stands for

A

Gross Domestic Product

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11
Q

OECD stands for

A

Organization for Economic Cooperation and Development

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12
Q

In the opening case of chapter 5 (Ethics, Corporate Responsibility, and Sustainability),
Gucci was founded in

A

Florence

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13
Q

A firm’s _____ are individuals or groups that have an interest, claim, or stake in
the company, in what it does, and in how well it performs.

A

stakeholders

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14
Q

Abstract ideas about what a group believes to be good, right, and desirable is called

A

values

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15
Q

_____ is the official ethical system of China

A

Confucianism

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16
Q

the most widely spoken language in the world is

A

English

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17
Q

The most widely practiced religion in the world with some 2.20 billion followers is

A

Christianity

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18
Q

trade refers to a situation in which a government does not attempt to influence
through quotas or duties what its citizens can buy form another country or what they can
produce and sell to another country.

A

free

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19
Q

According to the chapter 6 (International Trade Theory), a country has an _____ _____ in the production of a product when it is more efficient than any other
country at producing it.

A

absolute advantage

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20
Q

When unit costs reductions associated with a large scale of output happens, it is called

A

economies of scale

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21
Q

ASEAN is

A

Association of Southeast Asian Nations

22
Q

A currency _____ totally involves the short-term movement of funds from one
currency to another in the hopes of profiting from shifts in exchange rates. move freely
among members.

A

speculation

23
Q

_____ exposure is the extent to which a firm’s future international earning power is
affected by changes in exchange rates

A

economic

24
Q

_____ exposure is the extent to which the income from individual transactions is
affected by fluctuations in foreign exchange values.

A

transaction

25
Q

A _____ market has no barriers to trade among member countries, includes a
common external trade policy and allows factors of production to move freely among
members.

A

common

26
Q

The role of the IMF is to avoid the repetition of a global economic chaos through a
combination of _____ and _____

A

digital, flexibility

27
Q

A _____ crisis refers to a loss confidence in the banking system that leads to a run on
banks, as individuals and companies withdraw their deposits

A

banking

28
Q

A _____ crisis is a situation in which a country cannot service its foreign debt
obligations, whether private-sector or government debt

A

foreign debt

29
Q

Falling demand for U.S. dollars and rising demand for euros translated into a _____ in the
value of the dollar against the euro.

A

fall

30
Q

A _____ exchange rate happens when the value of the currency is fixed relative to a
reference currency.

A

pegged

31
Q

_____ effects refer to cost savings that come from learning by doing.

A

learning

32
Q

firms pursuing a _____ _____ strategy try not to customize their product
offering and marketing strategy to local conditions because customization involves
shorter production runs and the duplication of functions, which tend to raise costs

A

global standardization

33
Q

firms pursuing an _____ strategy take products first produced for their domestic
market and then sell them internationally with only minimal local customization.

A

international

34
Q

the _____ supply chain includes all of the organizations (e.g., suppliers) and
resources that are involved in the portion of the supply chain from raw materials to the
production facility.

A

upstream

35
Q

According to the opening case of chapter 15, Uber faced intense competition from Didi, a
homegrown ride-for-hire operator. Didi was from the country of _____

A

China

36
Q

One disadvantage of_____ is that it does not give a firm the tight control over
manufacturing marketing, and strategy that is required for realizing experience curve and
location economies.

A

licensing

37
Q

A factory that is viewed as an intelligence-gathering unit is called a _____ factory

A

outpost

38
Q

_____ was the airline company featured in the opening case of chapter 13.

A

Emirates

39
Q

one advantage of _____ _____ is that the firm benefits from a local partner’s
knowledge of the host country’s competitive conditions, culture, language, political
systems, and business

A

joint venture

40
Q

the most important disadvantage of _____ _____ _____ is that it is generally the
most costly method of serving a foreign market from a capital investment standpoint.

A

wholly owned subsidiary

41
Q

According to the opening case of chapter 18, Airbnb’s percentage of total bookings was _____

A

12.7%

42
Q

_____ _____ is a technique financial managers use to try to quantify the benefits,
costs, and risk of an investment.

A

capital budgeting

43
Q

a _____ staffing policy requires host-country nationals to be recruited to manage
subsidiaries, while parent-country nationals occupy key positions at corporate
headquarters.

A

polycentric

44
Q

an _____ staffing policy is one in which all key management positions are filled
by parent-country nations.

A

ethnocentric

45
Q

_____ _____ refers to identifying distinct groups of consumers whose needs,
wants, and purchasing behavior differ from others in important ways.

A

market segmentation

46
Q

channel _____ refers to the expertise, competencies, and skills of established retailers in
a nation and their ability to sell and support the products of international businesses.

A

quality

47
Q

_____ pricing is the use of price as a competitive weapon to drive weaker
competitors out of a national market.

A

predatory

48
Q

Out of the four samples of prominent international market research firms, this firm,
_____ is headquartered in London.

A

Kantar

49
Q

In the opening case of chapter 20, Ireland’s corporate income tax was _____

A

12.5%

50
Q

_____ costs are the cost of exchange.

A

transaction

International Business (3 decks)

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