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81 Cards in this Set
- Front
- Back
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_______ refers to the total value of all the exports and imports of the world's nations. A) Countertrade B) International marketing C) Gross national product D) Gross domestic product E) World trade |
E) World trade |
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Trading firms that work out elaborate deals in which they trade or barter their products with one another or even supply goods in return for tax breaks from the local government are using _______________. A) protectionism B) competitive intelligence C) gray marketing D) countertrade E) inflation |
D) Countertrade |
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Which of the following is the first step a firm should take when deciding whether or not to go global? A) Develop marketing mix strategies for foreign markets. B) Analyze whether it is in the firm's best interest to focus on the domestic market or to expand to international markets. C) Identify the most attractive global markets for the firm's products. D) Select a market-entry strategy that fits the firm's desired level of commitment. E) Identify potential partners in international markets. |
B) Analyze whether it is in the firm's best interest to focus on the domestic market or to expand to international markets. |
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Coca-Cola sold it's drinks in Russia for years in exchange for vodka. This is an example of a(n) _____________. A) joint venture B) direct investment C) countertrade D) import quota E) licensing agreement |
C) countertrade |
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The General Agreement on Tariffs and Trades (GATT) ________________. A) is composed of ten developed nations who make trade decisions for all other countries B) was created by the United States shortly after World War II C) is an example of a regional economic community D) led to the creation of the WTO E) sets international import quotas |
D) led to the creation of the WTO. |
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Which of the following statements about the World Trade Organization (WTO) is true?
A)The WTO is a branch of the US govt. B)Only countries that belong to established economic communities are granted membership to the WTO C) Only developed nations are granted membership to the WTO. D)The WTO's main function is to help least developed countries grown their economies. E) The WTO is the only international organization that deals with the global rules of trade between nations. |
E. The WTO is the only international organization that deals with the global rules of trade between nations |
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About 3/4's of the membership of the WTO comes from _____________. A) the world's poorer countries B) the world's most developed countries C) EU countries D) NAFTA countries E) MERCOSUR countries |
A) the world's poorer countries. |
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When a government adopts a policy of ___________, it enforces rules on foreign firms in order to give home companies an advantage. A) gray marketing B) countertrade C) monopolistic competition D) economic sanctions E) protectionism |
E) protectionism |
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A(n) _________ is an extreme quota that completely prohibits commerce and trade with a specific country. A) tariff B) embargo C) protectionist quota D) perfect monopoly E) expropriation |
B) embargo
ex: US with Cuba and North Korea
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The purpose of a government-imposed _________ is to give domestic competitors an advantage in the marketplace by making foreign competitors' goods more expensive than domestic goods. A) monopoly B) quota C) tariff D) oligopoly E) embargo |
C) tariff |
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A(n) ________ is a group of countries that have agreed to coordinate trade policies and ease restrictions on the flow of products and capital across members' borders. A) monopoly B) free trade zone C) economic community D) oligopoly E) economic infrastructure |
C) economic community |
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Which of the following countries are not a member of MERCOSUR?
A)Brazil B)Paraguay C)Bolivia D)Uruguay E)Venezeula
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C) Bolivia
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Malaysia, Indonesia, Singapore, Thailand and Cambodia all are members of __________.
A)the Andean Group B) ASEAN C)MERCOSUR D) NAFTA E)APEC |
B) ASEAN |
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NAFTA is a(n) ________. A) South American economic community B) common market for eastern and southern Africa C) economic community that includes Peru, Brazil, and China D) trade agreement that includes Canada, Mexico, and the United States E) eastern European economic community that competes with the EU |
D) trade agreement that includes Canada, Mexico, and the United States |
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The Euro is the currency used by ___________. A) NAFTA B) MERCOSUR C) the EU D) the WTO E) GATT |
C) the EU |
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Marketers need to understand the ____________ environment of a county from two perspectives: the overall level of development of a country and the current stage of its business cycle. A) political and legal B) sociocultural C) economic D) technological E) natural |
C) economic |
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The most commonly used measure of economic health of a country is the country's ____________. A) gross domestic product (GDP) B) gross national product (GNP) C) exchange rate D) cost of living E) Big Mac Index |
A) GDP- Gross Domestic Product |
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_____________ measures the value of all goods and services produced by a country's individuals or organizations, whether within the country's borders or not. A) Gross national product (GNP) B) The inflation rate C) Gross domestic product (GDP) D) The business cycle E) Economic infrastructure |
A) Gross National Product (GNP) |
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Which of the following measures is often a good indicator of a country's economic health because it is adjusted for the population size of each country? A) per capita GDP (gross domestic product) B) GNP (gross national product) C) the Big Mac Index D) standard of living E) economic infrastructure |
A) per capita GDP (gross domestic product) |
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Which of the following has the largest total GDP?
A) China B) Japan C)USA D)Spain E)Hungary |
C) usa |
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The measurable quality of a country's distributions, financial and communication system is referred to as the country's __________. A) level of economic development B) standard of living C) gross domestic product (GDP) D) economic infrastructure E) business cycle |
D)Economic infrastucture |
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A country's ________ indicates the average quality and quantity of goods and services consumed within the country. A) economic infrastructure B) standard of living C) gross domestic product (GDP) D) gross national product (GNP) E) business cycle |
B) standard of living |
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In most cases, which of the following is true about a least developed country (LDC)? A) It has an economy based on agriculture. B) It is by definition landlocked. C) It has a viable middle class. D) It has high literacy levels. E) It has an advanced economic infrastructure. |
A) It has an economy based on agriculture. |
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Which of the following is most characteristic of a developing country? A) The country is moving away from an economy based on industry. B) The market for consumer goods present little growth potential. C) The nation has an economy based on agriculture. D) The country has a significant middle class. E) The country has an economy based on exporting services. |
D) The country has a significant middle class. |
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Which of the following is NOT among the largest of the world's developing countries?
A) Brazil B)Russia C)India D)Canada E)China |
D) Canada |
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Which of the following best explains why marketers are attracted to the BRIC countries? A) These countries have long-established upper classes that form a strong market for luxury goods. B) These countries are quickly moving from being least developed to developing countries. C) These countries have masses of consumers who are not yet wealthy but are quickly moving to economic prosperity. D) These countries offer large markets with no language or cultural barriers. E) These countries wield the most power in the Group of Eight. |
C) These countries have masses of consumers who are not yet wealthy but are quickly moving to economic prosperity. |
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France, Italy and Germany boast sophisticated marketing systems and are 3 good examples of _________. A) preindustrial countries B) least developed countries (LDCs) C) developing countries D) developed countries E) BRIC countries |
D) developed countries |
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The US, UK, Australia, Canada, France, Italy, Germany and Japan are all members of ___________. A) the BRIC countries B) the Group of Eight C) the EU D) NAFTA E) APEC |
B) The Group of Eight |
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A severe recession is a depression, a period in which prices fall but there is little demand demand because few people have money to spend and many are out of work. This condition is part of ________. A) the competitive environment B) the business cycle C) the technological environment D) demographics E) social norms |
B) the business cycle |
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Which of the following occurs when prices and the cost of living rise while money loses its purchasing power? A) prosperity B) recovery C) inflation D) deflation E) a depression |
C) Inflation |
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Through ___________ activities, a firm gathers and analysis publicly available information about rivals. A) economic infrastructure B) competitive intelligence C) demographic D) perfect competition E) business cycle |
B) competitivie intelligence |
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________ income is the amount of money an individual has left to spend after paying for necessities such as housing, utilities, food and clothing. A) Discretionary B) Gross product C) Standard of living D) Inflationary E) Competitive |
A) Discretionary |
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Through __________ competition, competitors offer different products, attempting to satisfy the same consumers' needs and wants. A) discretionary income B) product C) brand D) monopolistic E) oligopolistic |
B) product |
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The YMCA and Gold's gym engage in __________ competition when they both try to attract customers to buy their fitness center services. A) discretionary income B) product C) brand D) monopolistic E) oligopolistic |
C) brand |
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In a(n) ________ structure, one seller controls a market. A) monopoly B) oligopoly C) monopolistic competition D) perfect competition E) natural competition |
A) monopoly |
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In a(n) _________ structure, there are a relatively small number of sellers, each holding substantial market share, in a market with many buyers. A) monopoly B) oligopoly C) monopolistic competition D) perfect competition E) natural competition |
B) oligopoly
ex: airlines |
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In a(n) ________ structure, there are many sellers, each having slightly different products and each having only a small share of the market . A) monopoly B) oligopoly C) monopolistic competition D) perfect competition E) natural competition |
C) Monopolistic competition |
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In a(n) ________ structure, there are many small sellers, each having similar products, sand each unable to have a significant impact on the quality, price or supply of a product. A) monopoly B) oligopoly C) monopolistic competition D) perfect competition E) natural competition |
D) perfect competition
ex: farmers of jalapeños |
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Firms are constantly scanning the ________ environment in search of ideas and trends that can spark their own research efforts. Sometimes an idea can transform an industry, such as transistors revolutionizing the field of consumer electronics. A) political and legal B) sociocultural C) economic D) technological E) natural |
D) technological |
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The ________ environment refers to the local, state national and global laws and regulations that affect business. A) political and legal B) sociocultural C) economic D) technological E) natural |
A) Political and legal |
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Expropriation occurs when a government ___________. A) reimburses a foreign company for its assets after taking over the company B) reimburses a foreign company that has lost facilities due to natural causes C) refuses to allow its businesses to engage in exporting D) takes over a foreign operation and provides the seized operation with no reimbursement E) imports more than it exports |
D) takes over a foreign operation and provides the seized operation with not reimbursement |
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Nationalization occurs when a government _________. A) reimburses a foreign company for its assets after taking over the company B) reimburses a foreign company that has lost facilities due to natural causes C) refuses to allow its businesses to engage in exporting D) takes over a foreign operation and provides the seized operation with no reimbursement E) imports more than it exports |
A) reimburses a foreign company for its assets after taking over the company. |
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The ________ was developed to eliminate monopolies and to guarantee free competition. A) Sherman Antitrust Act B) Clayton Act C) Robinson-Patman Act D) Wheeler-Lea Act E) Lanham Trademark Act |
A) The Sherman Antitrust Act |
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The __________ Act (1914) created the regulator body that enforces law against deceptive advertising and product labeling regulations. A) Federal Trade Commission B) Lanham Trademark C) Fair Packaging and Labeling D) Consumer Products Safety Commission E) Robinson-Patman |
A) Federal Trade Commission |
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The ________ Act (1946) protects and regulates brand names. A) Federal Trade Commission B) Lanham Trademark C) Fair Packaging and Labeling D) Consumer Products Safety Commission E) Robinson-Patman |
B) Lanham Trademark |
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The _______ Act (1968) requires full disclosure of loan terms and rate for borrows. A) Federal Trade Commission B) Lanham Trademark C) Fair Packaging and Labeling D) Consumer Credit Protection E) Robinson-Patman |
D) Consumer-Credit Protection |
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The ________ (2003) was established by the Federal Trade Commission to allow consumers to limit the number of telemarketing calls they receive. A) National Do Not Call Registry B) Child Protection Act C) Federal Communications Commission D) Consumer Products Safety Commission Act E) Robinson-Patman Act |
A) National Do Not Call Registry |
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The _________, a US regulatory agency, protects the public from potentially hazardous products. A) Consumer Product Safety Commission B) Environmental Protection Agency C) Federal Communications Commission D) Federal Trade Commission E) Interstate Commerce Commission |
A) Consumer Product Safety Commision |
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The _______ , a US regulatory agency, regulates telephone, radio, and television. This affects all firms that use broadcast media. A) Consumer Product Safety Commission B) Environmental Protection Agency C) Federal Communications Commission D) Federal Trade Commission E) Interstate Commerce Commission |
C) Federal Communications Commision |
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The _______, a US regulatory agency, enforces laws and regulations on foods, drugs, cosmetics, and veterinary products. Marketers of pharmaceuticals must get approval from this agency before introducing products to the market. A) Food and Drug Administration B) Environmental Protection Agency C) Federal Communications Commission D) Federal Trade Commission E) Consumer Product Safety Commission |
A) FDA- Food and Drug Administration |
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Which of the following is a form of protectionism?
A) joint ventures B) Bribery C) Extortion D) Collectivism E) local content rules |
E) local content rules |
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Through the US Generalization System of Preferences (GSP), developing countries may export goods duty-free to the US if they __________. A) demonstrate progress toward protecting the natural environment B) demonstrate progress toward improving the rights of their workers C) agree to exempt U.S. imports from local content rules D) belong to the World Trade Organization (WTO)E) participate in a reciprocal free trade zone |
B) Demonstrate progress toward improving the rights of their workers. |
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The ________ environment refers to the characteristics of a society, the people who live in the society, and the culture that reflects the values and beliefs of the society. A) political and legal B) sociocultural C) economic D) technological E) natural |
B) sociocultural |
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________ are statistics that measure aspects of population, such as size, age and gender. A) Demographics B) Norms C) Cultural dimensions D) Standards E) Mores |
A) Demographics |
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Every society has a set of deeply held beliefs about right and wrong ways to live, which are referred to as ________. A) demographics B) social norms C) cultural dimensions D) cultural values E) customs |
D) Cultural Values
(Italian housewives) |
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In a(n) ________ culture, people tend to subordinate their personal goals to those of a stable community. A) collectivist B) individualist C) democratic D) demographic E) ethnocentric |
A) Collectivist
(Fit in) |
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In a(n) _________ culture, people tend to attach more importance to personal goals than to the needs of a larger community. A) collectivist B) individualist C) democratic D) demographic E) sociocultural |
B) individualist
(stand out) |
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Specific rules that dictate what is acceptable or unacceptable within a society are referred to as _________. A) demographics B) cultural values C) cultural dimensions D) social norms E) ethnocentric standards |
D) social norms |
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________ is the belief that one's own norms and the products made int he one's own country are superior. A) Nationalization B) Ethnocentrism C) Domestication D) Expropriation E) Democratization |
B) Ethnocentrism |
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_______ occurs when someone voluntarily offers payment to get an illegal advantage. A) Nationalization B) An economic sanction C) Bribery D) Expropriation E) Extortion |
C) Bribery |
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________ occurs when someone in authority extracts payment under duress. A) Nationalization B) An economic sanction C) Bribery D) Expropriation E) Extortion |
E) Extortion |
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Small firms that wish to export their products may choose to use ________ who understand the local market and will find buyers and negotiate terms on the firm's behalf. A) direct investors B) franchisees C) export merchants D) franchisors E) free traders |
C) export merchants |
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All of the following are barriers to successful exporting EXCEPT _______.
A) tariffs B) local content laws C) import quotas D) export merchants E) economic sanctions |
D) export merchants |
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After exporting, the next level of commitment a firm can make to a foreign market is a contractual agreement. Two of the most common types of such agreements are ________. A) contract manufacturing and contract marketing B) contract manufacturing and strategic alliances C) joint ventures and franchising D) warehousing and financing E) licensing and franchising |
E) licensing and franchising |
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In a ________ , a firm gives another firm the right to produce and market it's product in a specific country or region in return for royalties on good sold. A) licensing agreement B) strategic alliance C) joint venture D) marketing mix alliance E) direct investment |
A) licensing agreement |
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Franchising is a form of ___________. A) importing B) tactical alliance C) licensing D) joint venture E) direct investment |
C) licensing |
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Which of the following often take the form of a joint venture?
A) licensing agreement B) franchising agreements C) export agreements D) strategic alliances E) expropriation agreements |
D) Strategic allicance |
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Which of the following is true about the market entry strategy of direct investment?
A) It allows a foreign firm to take advantage of a domestic company's political savvy and market position. B) It relies on export merchants to analyze the local market. C) It provides the lowest level of risk for a firm D) It relies on intermediaries to represent the company in a target market. E) It provides the lowest level of control for a firm |
A) It allows a foreign firm to take advantage of a domestic company's political savvy and market position. |
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When considering the Four Ps in international marketing, advocates of ________ focus on the similarities among cultures and argue that basic needs and wants are the same everywhere. A) nationalization B) standardization C) localization D) expropriation E) ethnocentricism |
B) standardization |
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When considering the Four Ps in international marketing, advocates of ________ focus on the unique characteristics of cultures and argue for products and promotional messages tailored to each culture. A) nationalization B) standardization C) localization D) expropriation E) ethnocentricism |
C) localization |
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A firm's __________ decisions when selling in a foreign market are straight extension, adaptions and invention. A) advertising B) product C) brand D) marketing mix E) distribution |
B) product |
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A firm would be most likely to use backward invention in which of the following situations? A) when it needs to offer a less complex product in a foreign market than it sells elsewhere B) when it has decided to rely on a straight extension strategy C) when it first markets a product internationally D) when it participates in a free trade zone E) when it relies on the practice of dumping |
A) When it needs to offer a less complex product for a foreign market than it sells elsewhere. |
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A ________ exists when an unauthorized party imports products and then sells the for a fraction of the price of authorized products. A) gray market B) dual distribution system C) disintermediation system D) black market E) dumping ground |
A) gray market |
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Many countries outlaw _______, a practice in which a company prices its products lower than they are priced at home. A) gray marketing B) parallel importing C) black marketing D) dumping E) countertrading |
D) dumping |
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Azerbaijan imported wheat from Romania in exchange for crude oil and Vietnam exchanged rise for Philippine fertilizer and coconuts. Both scenarios are examples of which of the following?
A)convertible trade B)tariffs C)quotas D)protectionism E)countertrade
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E) countertrade |
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Members of mgmt at Growing Green, a company that markets organic and environmentally friendly gardening and landscaping supplies and equipment, are evaluating the benefits and disadvantages of indirect exporting, direct exporting and licensing. In which stage of the international marketing process are they?
A)deciding whether to go global B)deciding which global markets are most attractive C)deciding which market-entry strategy is best D)deciding on the marketing mix strategies for foreign markets E)deciding on the global marketing organization |
C) deciding which market-entry strategy is best |
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US sugar import quotas have existed for more than fifty years and preserve about half of the US sugar market for domestic producers. These quotas are examples of ___________. A) embargoes B) nationalization C) protectionism D) expropriation E) disintermediation |
C) protectionism |
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US sugar import quotas have existed for more than fifty years and preserve about half of the US sugar market for domestic producers. Why does the US continue to have these quotas A) to reduce competition for its domestic sugar industry B) to increase the cost of sugar C) to control the supply and demand for sugar D) to support a mass market for sugar E) to improve the promotion of sugar |
A) To reduce competition for it's domestic sugar industry |
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In February 2000, the US imposed a tax on imported steel in an effort to protect about 5,000 US jobs. Another name for this levied tax is a(n) ________. A) embargo B) gray tax C) tariff D) import quota E) boycott |
C) tariff |
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Trused Wholesalers is a company that purchases products produced in Mexico and sells them to companies based in the US and Canada. Mgmt at Trusted Wholesalers would most likely be interested in becoming experts in the agreements made by ________.
A)the EU B)NAFTA C)CAFTA D)APEC E)MERCOSUR |
B) NAFTA |
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Kyrgyzastan is a small, poor, mountainous country with a predominately agricultural economy. Cotton, wool and meat are the main agricultural products and exports. Fifty-one percent of the pollution lives in poverty. Kyrgyzstan is an example of _______. A) BRIC country B) least developed country (LDC) C) industrializing country D) developed country E) G-8 country
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B) least developed country |
