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World Trade Organization > Midterms > Flashcards

Midterms Flashcards

0
Q

ASEAN

A 
Brunei
Cambodia
Indonesia
Laos
Malaysia
Myanmar
Philippines
Singapore
Thailand
Vietnam
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1
Q

Organization of the Petroleum Exporting Countries

A 
Algeria
Angola
Ecuador
Iran
Iraq
Kuwait
Libya
Nigeria
Qatar
Saudi arabia
Uae
Venezuela
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2
Q

People

A 
Customers
-Age
-Social group
Employees
-Quantity
-Quality
-Training
-Motivation
-Promotion
-Rewards
-Teamwork
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3
Q

Process

A

Automation
Blueprinting
Control procedures

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4
Q

Physical Evidence

A 
Ambience
Cleanliness
Equipment
Employee dress
Guarantees
Layout/Decor
Quantity
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5
Q

Marketing Mix of Mcdonalds

A 
Product
Price
Promotion
Place
People
Process
Physical evidence
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6
Q

Promotional methods

A 
Advertising
Sales promotion
Point of sale display
Merchandising
Direct mail
Loyalty schemes
Door drops
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7
Q

Modes of Services Trade

A

Cross-border supply
Consumption abroad
Commercial presence
Temporary movement of natural persons to another country

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8
Q

Similar to the tradition notion of imports for goods trade.

A

Cross border supply

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9
Q

Services supplied in the territory of one country to the consumers of another

A

Consumption abroad

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10
Q

Services applied through a foreign-owned company

A

Commercial presence

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11
Q

It consists of a persons of one member entering the territory of another member to supply a service

A

Temporary movement of natural persons to another country

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12
Q

Main categories of GATS obligations

A

General obligations

Specific obligations

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13
Q

Main categories which apply to all service sectors of all Members.

A

General obligations

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14
Q

Main categories which apply only to service sectors specified in the Member’s “Schedule of specific commitments”

A

Specific obligations

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15
Q

Six benefits of services liberalization

A 
Economic performance
Development
Consumer savings
Faster innovation
Greater transparency and    predictability
Technology transfer
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16
Q

Most favoured nation

A

It provides equal opportunities in that sector for all foreign service provides; mutual exclusive treatment for all service providers

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17
Q

National treatment

A

Requires equal treatment for foreign providers and domestic providers

18
Q

Other important general obligations

A 
Transparency of regulations
Mutual recognition of qualifications
Rules governing monopolies and exclusive service suppliers
Measures to be taken to liberalize trade
Agreements puts on countries
19
Q

Trade barrier

A

Foreign services providers
Personnel
Instructional resources

20
Q

Foreign services providers

A

Special taxes or tariffs
Outright bans
Long approval delays
Complex accreditation/licensing rules

21
Q

Personnel

A

Restrictions on foreign personnel

Hiring quotas for locals

22
Q

Instructional resources

A

Customs restrictions on materials

Limits on technical infrastructure

23
Q

Who started the Mcdonalds in San Benardino, California in 1937

A

Dick and Mac Mcdonald

24
Q

Who convinced the brothers to open up several restaurants and give franchise?

A

Ray Kroc

25
Q

How much did Ray Kroc bought the mcdonalds?

A

$2.7 Million

26
Q

How many outlets does McDonalds has?

A

31,000 in 119 countries

27
Q

McDonalds secret is based on what?

A

Stores Cleanliness
Quality of its food
The time and temperatures followed in cooking
The time it took to serve customers

28
Q

It is a written understanding or obligation of a bank, made at the request of the buyer, within prescribed time limit and upon compliance with the conditions specified therein.

A

Letter of Credit

29
Q

Can be amended or cancelled at any time without warning or notification to the seller/beneficiary.

A

Revocable credit

30
Q

Can be amended or cancelled only with the consent of all parties

A

Irrevocable credit

31
Q

Gives the seller a double assurance of payment since the advising/paying bank has added its obligation to pay to that of the issuing bank.

A

Confirmed credit

32
Q

When an advising bank does not add its own obligation to pay to the beneficiary

A

Unconfirmed credit

33
Q

Restricts the beneficiary to present his documents to a bank

A

Unrestricted credit

34
Q

Payment is affected after presentation of the drafts and documents and after review that they conform to the terms

A

Sight credit

35
Q

Payment will be made at some specified time after presentation of the draft and documents

A

Usance credit

36
Q

Letters of Credit

A 
Revocable credit
Irrevocable credit
Confirmed credit
Unconfirmed credit
Restricted credit
Unrestricted credit
Sight credit
Usance credit
37
Q

Special types of L/C

A 
Revolving credit
Transferable credit
Red clause credit
Back to back credit
Documentary
Clean credit
38
Q

It usually used when the importer is anticipating a regular flow of merchandise from an exporter

A

Revolving credit

39
Q

It is one that can be transferred by the original beneficiary to one or more second beneficiaries

A

Transferable credit

40
Q

The beneficiary can be paid in advance even before the presentation of the documents

A

Red clause credit

41
Q

It is generally used when the exporter as the beneficiary of the first L/C needs funds to purchase merchandise from another supplier but does not qualify for an unsecured bank loan

A

Back to back credit

42
Q

It is only honored by the bank accompanied by certain documents

A

Documentary L/C

43
Q

Does not require any document to accompany the draft.

A

Clean credit

World Trade Organization (1 decks)

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