Midterm Flashcards
Which of the following best defines international marketing?
It is the process of planning and conducting economic forecasting in developing countries.
It is the process of creating a subsidiary in a neighboring country.
It consists of the activity, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society.
It is the process of hiring employees from other countries to assist with advertising messages, public communication, and the building of overall awareness.
It consists of the activity, institutions, and processes across national borders that create, communicate, deliver, and exchange offerings that have value for stakeholders and society.
Export-import trade, licensing, joint ventures, wholly owned subsidiaries, turnkey operations, and management contracts are examples of:
international marketing.
Which of the following is true of international marketing?
The international marketer is faced with often inconsistent legal systems when it comes to monitoring environmental pollution.
International marketing does not retain the basic marketing tenets of value and exchange.
International marketing does not focus on stakeholders and society whose present positions are to be improved.
The international marketer is subject to the same set of macroenvironmental factors as a domestic marketer.
The international marketer is faced with often inconsistent legal systems when it comes to monitoring environmental pollution.
Which of the following new technologies has allowed consumers to supply and receive products from across the world for personal use?
Question options:
Travelogues on cable television
The Internet
Automated pensions and individual retirement accounts
Newly created niche markets
The Internet
Which of the following is true about the importance of world trade?
Question options:
World trade has deeply affected domestic policymaking and has often resulted in the emergence of totally new threats to firms and individuals.
The growth of domestic economies has typically outperformed global growth of trade in the past few decades.
When firms invest on a global scale, it is difficult for entire industries to shift their locations.
Due to the severe recession that affected much of the world’s economy in 2008 and 2009, world trade could not rebound in 2010.
World trade has deeply affected domestic policymaking and has often resulted in the emergence of totally new threats to firms and individuals.
The trading bloc NAFTA is located in _____.
Question options:
Asia
Europe
South America
North America
North America
Which of the following is true regarding technological innovation?
Question options:
Technological innovation has complicated the production process.
Technological innovation has increased demand, therefore products are distributed at a higher cost.
Technological innovation allows for customization in order to meet diverse clients’ needs.
Technological innovation enables greater access to raw materials around the world which in turn increases production costs.
Technological innovation allows for customization in order to meet diverse clients’ needs.
The International Monetary Fund (IMF) was founded to:
Question options:
manage monetary policies around the world.
help restructure impoverished economies.
provide infrastructural and medical aid to developing countries.
provide financial assistance to developing countries for development programs.
help restructure impoverished economies.
By erecting barriers, designing quotas, and implementing other import regulations, governments have attempted to:
Question options:
prevent illegal trade across borders.
restrict the impact of global trade and financial flows.
increase the income of the government.
capitalize on technology and enforce worldwide standards.
restrict the impact of global trade and financial flows.
Which act raised duties to reduce the volume of imports into the United States, in the hopes that this would restore domestic employment?
Question options:
The Export Trading Company Act
The Gramm-Leach-Bliley Act
The Sarbanes-Oxley Act
The Smoot-Hawley Act
The Smoot-Hawley Act
The Soviet Union, as the leader of the Eastern bloc, developed the _____, which focused on developing strong linkages among the members of the Soviet bloc and discouraged relations with the West.
Question options:
Gulf Cooperation Council
Transatlantic Business Dialogue
MERCOSUR
Council for Mutual Economic Assistance
Council for Mutual Economic Assistance
Which of the following began in 1947 as a set of rules for nondiscrimination, transparent procedures, and settlement of disputes in international trade?
Question options:
The Free Trade Area of the Americas
The General Agreement on Tariffs and Trade
The North American Free Trade Agreement
The General Agreement on Trade in Services
The General Agreement on Tariffs and Trade
Which of the following statements about the WTO is true?
Question options:
Provisions are made at the WTO for decisions to be made by majority vote if a consensus cannot be achieved.
A successful WTO may well endorse the sovereignty of nations.
The original goal of the WTO was to provide for fixed exchange rates between countries.
Outside groups such as nongovernmental organizations believe the WTO will assist their causes.
Provisions are made at the WTO for decisions to be made by majority vote if a consensus cannot be achieved.
What is the core mission of the WTO?
Question options:
To provide for general difficulties in the market entry of foreign products
To provide preferential treatment to domestic bidders over foreign bidders
To facilitate international trade and investment
To deal with social causes and issues such as labor laws and competition
To facilitate international trade and investment
The International Bank for Reconstruction and Development is also known as the _____.
Question options:
Export-Import Bank
UNDP
World Bank
IMF
World Bank
What is the term used for a firm founded with a global scope in mind from the very beginning?
Question options:
Global
Economic bloc
Multinational
Born global
Born global
_____ are special because they can affect currency values and the fiscal and monetary policies of governments, shape public perception of competitiveness, and determine the level of imports a country can afford.
Question options:
Protectionistic laws
Mixed aid credits
Exports
Nontariffs
Exports
Which of the following statements is true about foreign direct investment?
Question options:
Foreign investments may result in growing concern among policymakers about dependency on foreign owners.
The United States is the sole foreign direct investor in the world.
Foreign affiliates are not participants of trade.
Foreign direct investment tends to be distributed equally across all industries.
Foreign investments may result in growing concern among policymakers about dependency on foreign owners.
“Voluntary” import restraints have been used mainly in areas such as textiles, automobiles, and steel, and are intended to _____.
Question options:
help domestic companies regain their trade prominence of years past
show good political citizenship by members
penalize exporters of raw materials
situate the imports as a political component as opposed to a trade embargo
help domestic companies regain their trade prominence of years past
Where is MERCOSUR located?
South America
What is the Mercosur stand for?
Southern Common Market
Which of the following is true about culture?
Question options:
It pertains only to the group being analyzed and does not translate to another group.
It has been shown that newborns have an understanding of their culture from birth and therefore it is hereditary.
It is inherently conservative, resisting change and fostering continuity.
It is difficult to articulate because culture has no distinguishing characteristics.
It is inherently conservative, resisting change and fostering continuity.
The process of adjusting and adapting to a specific culture other than one’s own is termed as _____.
Question options:
cultural imperialism
ethnocentrism
acculturation
back-translation
acculturation
Marketers who bring about cultural change through dramatic campaigns without the adaptation to culture-specific elements can be accused of cultural _____.
Question options:
relativism
diffusion
revolution
imperialism
imperialism
The manifestations of the total way of life of any group of people are referred to as cultural _____.
Question options:
universals
imperialism
convergences
relativism
universals
Which of the following is true about values and attitudes?
Question options:
In tradition-bound societies, attitude toward change is viewed with great suspicion.
Attitude toward change is basically negative in industrialized countries.
Values are the evaluation of alternatives based on attitudes.
Cultural attitudes are typically a deterrent to foreign business practices.
In tradition-bound societies, attitude toward change is viewed with great suspicion.
Which of the following determines the roles of managers and subordinates and the way they relate to one another?
Question options:
Inequality
Ethnocentrism
Cultural assimilation
Social organization
Social organization
