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Exam 3: Doing Business in Global Markets

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Question 1

Multiple Choice

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Candace is a flight attendant for a large, international airline. While in China, Candace often finds look-alikes in famous designer brands of watches, handbags, clothing, and golf clubs. In fact, she'll do her Christmas shopping there and will even buy good-quality items for auctioning at her son's preschool events back in the U.S. Candace's actions demonstrate

A) a continual problem with product piracy in China.
B) how expensive it is to trade with China. People who travel there are really the only ones who can benefit from China trade.
C) the low level of economic development in China, and the fact that only tourists can afford to purchase name-brand goods in that nation.
D) the World Trade Organization's encouragement of China to increase its production of counterfeit goods because there is a high demand for these globally.

E) A) and B)
F) A) and C)

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A

Question 2

Multiple Choice

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The outlook for growth in global trade appears to be

A) less optimistic than in the past.
B) more interesting yet more challenging every day.
C) unclear and lacking focus.
D) nonexistent.

E) B) and C)
F) C) and D)

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Question 3

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In the past, foreign companies have adapted to U.S. culture more easily than U.S firms have adapted to foreign cultures.

Even though the U.S. exports a large ________ of goods and services, it exports a much lower ________ of its products than many other countries do.

The same proven management styles used by companies in their domestic operations can be employed in their foreign subsidiaries.

When the U.S. provides foreign aid to countries abroad, a balance of payments outflow occurs.

When competing in global markets, business organizations utilize a variety of strategies to reach foreign buyers.

The three countries participating in NAFTA are

China is currently one of the three largest exporters in the world today.

The "second wave" of offshore outsourcing refers to

Using contract manufacturing as a strategy to reach global markets gives firms the advantage of

Under a system of floating exchange rates, the value of a country's currency is determined by government regulation.

Tebeau Partners of France and Morimoto Management based in Japan recently produced a new electric car with rechargeable batteries that can be driven at high speeds for long distances. They shared the investment, each contributing important technological expertise to the effort. These firms entered into a(n) ________ to build this car.

Many students in studying abroad programs at U.S. colleges and universities have discovered profitable opportunities by importing goods from their home countries into the United States.

One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need.

In the box, "Many Flags Fly Over the Golden Arches," the textbook describes one of the reasons McDonald's has become a global powerhouse. Which statement best describes what led to McDonald's success?

International trade is not limited to multinational corporations. Small businesses do about 30% of all exporting out of the U.S.

From a sociocultural perspective, foreign companies have experienced a good amount of success in adapting their products and services to the U.S. market.

A corporation that manufactures or markets its products in many different countries and has multinational stock ownership and management can be classified as a multinational corporation.

Since 1975, the U.S. has had a(n) ________.