International Business Chapters One through Three Unit Review.

International Business Chapters One through Three Unit Review

This review is a direct reflection of the test that you will see in a few days. Please try your best to answer the questions as correctly as possible. Good Luck! Click on the house to begin the review

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Question #1 Name two of the five reasons companies are driven to the international market? Political Market Endowment Factors Portfolio investment

Correct Go to the next question

Question #2 Cost, as a Globalization Force, allows product lines to achieve … Cost Savings Economies of Scale

Question #3 Endowment factors are the pieces that go into a country’s ability to … Produce something Import Products

Question #4 Name a type of domestic operation within a foreign country … Foreign Business International Business

Question #5 Which of the following companies is an example of an international business? Lilly insulin in Belgium McDonalds Ford Motor

Question #6 Economic Nationalism represents the strategy of … Comparative Advantage Mercantilism

Question #7 The trend toward unification and socialization of the global community is which globalization force? PoliticalMarket Competitive

Question #8 Non –Americans owned __________ of stock and bonds in the United States? 1.9 Trillion2.8 Trillion

Question #9 What country is the largest owner of United States government debt (i.e.: treasury notes)? China United Kingdom Japan

Question #10 The book Wealth of Nations was written to disprove the economic trade theory of … Comparative Advantage Mercantilism

Question #10 Of the two parts of foreign investment which part’s sole purpose is obtaining a return of funds invested? Direct investment Portfolio investment

Question #11 Which is NOT a benefit of the First Mover Theory? Large market share Discourage competitors Reduced costs Increased Exports

Question #12 What percentage do developed nations trade with other developed nations _________ ? 63% 72% 84%

Question #13 Which is the easiest of the steps to begin foreign trade? Setting up a foreign sales company Exporting Establishing foreign production facility

Question #14 The invention of what one thing has allowed small firms to compete globally Wireless phone internet Palm Pilots

Question #15 What is it called when someone begins foreign trade and turns the distribution over to someone else Retailing Wholesaling

Question #16 True/False: Larger firms begin foreign trade by wholesaling TRUE FALSE

Question #17 Competition, as a globalization force, says that to protect your home market by _________ a competitor’s market Entering into Importing from

Question #18 Heckscher-Olin Theory states that if a country has an abundant amount of production factors, they should … Export those products Manufacture different products Export different resources

Question #19 Which is NOT a reason why companies will go abroad? Protection from competition Increase Technology Increase sales

Question #20 Setting up a foreign sales company is the __________ set to beginning foreign trade? Hardest Moderate Easiest

Question #21 When investors participate in the management of a foreign firm and receive profits on investments that is called … Portfolio Investment Direct Investment

Question #22 The United States is the ______ largest investor nation in the world? Third SecondFirst Last

Question #23 The major economic theory in Europe between the 16 th and 18 th century was … Mercantilism Importing Priority Nationalism

Question #24 Prices of the factors depend only on the supply of those factors is an assumption of which theory? Heckscher — Olin Theory First mover theory Comparative advantage

Question #25 In a trade situation where one party must lose for another to gain is called … Win-Lose Theory Zero Sum Gain Game Theory

Question #26 When company’s globalize, they also become global customers. Which globalization force is this? Market CostPolitical

Question #27 What book was written to dispel government intervention and control over trade? Principles of Political Economy and Taxation Communist Manifesto Wealth of Nations

Question #28 Which is NOT a reason developed nations trade with other developed nations? Strong cultural objections Foreign exchange is available Business Climate Satisfactory transportation

Question #29 True/False: It is larger countries that are huge One Way trade imposters? TRUE FALSE

Question #30 True/False: Despite good intentions, most developed nations DO NOT trade with developing nations? TRUE FALSE

Question #31 A business whose activities are carried out across national borders is a … Foreign Business International Business

Question #32 Privatization of state owned firms to increase trading is which globalization force? Market Political Competitive

Question #33 Land, Labor, and Capital are pieces that go into a country’s ability to produce something. These are called? Supply chain parts Endowment Factors Production Components

Question #34 Technology, as a globalization force, DOES NOT allows companies to do which of the following better? Track shipping Increase sales Oversee manufacturing Coordinate production

Question #35 True or false: Larger, developed nations are huge proponents of one way trade? FalseTrue

Question #36 One assumption about Heckscher - Olin is that technology is ___________ available. Universally Selectedly Not

Question #37 Trade between countries is due to _______ in the endowment factors of production Similarities Availability Differences

Question #38 The G8 countries are also called ____________ countries? Industrialized New Industrialized Developing

Question #38 Which of the following is NOT a developed country? Canada Brazil Israel United States

Question #39 Mercantilism believes that the only source of true wealth is? Expanding the Empire Accumulation of precious metals Increasing Imports

Question #40 In mercantilism, the driving force to increase wealth was? Building bigger ships Imports from other countries Explore the new world

Question #41 The Theory of Comparative Advantage was developed by? David Ricardo Eli Heckscher Adam Smith Alan Greenspan

Question #42 Which is the hardest step in the process of beginning foreign trade? Exporting Foreign production facility Foreign sales company

Question #43 Income that is not directly concerned with the control of a firm is called? ActivePassive

Question #44 Americans owned _____ in foreign securities in 2002? $4.65 billion $2.9 trillion $786 million $1.84 trillion

Question #45 With the first mover theory, first mover companies normally hold _____ of the market share? 20% 40% 30% 75%

Question #46 Which of the following is an new industrialized country? Australia China Ghana Mexico

Question #47 The largest “investor” country in the United States is? CanadaChina Japan United Kingdom

Question #48 Specialized labor is a tenant of which economic theory? Laffler Curve Comparative Advantage Absolute Advantage

Question #49 What are the two main items firms want to increase when deciding to go abroad? Profits / Sales Imports & Market share Exports & Workforce

Question #50 Infant Industries will have a well trained _______________? Export channels Import process Labor force

Question #51 A country has an advantage in making a product when its absolute disadvantage is less is called? Comparative Advantage Absolute Advantage

Question #52 The political global force of business leads to the ______ of trade barriers and _____ of the global community? reductions / unification Increase / socialization Increase / separation

Question #53 Fast growing, middle income countries are called? Developed Transition New Industrialized

Question #54 True / False: New Industrialized Countries import large amounts of manufactured goods and have a low concentration of foreign investment? TRUEFALSE

Question #55 What was a special category of economic development created just for China? Emerging market economy Transition country

Question #56 True/False: In developing countries, government legislated fringe benefits are higher than other country types? TrueFALSE

Question #57 National Defense trade restrictions call for the _______ of important national industries? De-regulationExporting Protection

Question #58 True/False: Protection of infant industries is always long term and normally have a negative effect? TRUEFALSE

Question #59 True/False: Trade sanctions main goal is to hurt workers in the offending nation? TRUEFALSE

Congratulations You have complete the first portion of the online review. Click here for more valuable information

More Valuable Information Don’t forget that you need to know the Arguments for trade Restrictions (last page of chapter three notes) Click on the house if you want info on the essay questions

Essay Question Information 1) International Product Life Cycle (at least 12 points) 2) Why is an international workforce is beneficial to a global company (i.e. globalized workforce)  Cirque du Soleil video from class More Essay Info

If you want to re-watch the Cirque du Soleil video from class, there will be a showing on Wednesday after school in Room 246 at 3:30. Click here for more valuable essay information

More Essay Info 3) Table 2.2 (p 39)  tell me what it all means and give me some numbers (interpret the table) 4) Tables 2.11 & 2.12 (p54 & 55)  tell me what it all means and give me some numbers (interpret the table) Click here is you want to re-take the review Click here to complete the review

Good Work! Good luck on the exam! It will be written part on Thursday, essay part on Friday!

International Business Chapters One through Three Unit Review.

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International Business Chapters One through Three Unit Review.

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