Saint GBA440 Module 8 Quiz 2 (ALL ARE PERFECT) - 94145

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Question 1. Question : The sale of government-owned economic resources to private operators is called _______. the price mechanism laissez-faire economics privatization guanxi Question 2. Question : In most failed centrally planned economies ________. market conditions helped determine who produced various goods prices of products were a function of supply and demand central planning agencies specified production goals and decided prices central planners paid attention to efficiency improvement Question 3. Question : The practice of mercantilism rested upon each of the following except ________. enhanced trade deficits government intervention colonialism trade surpluses Question 4. Question : Who proposed the theory of absolute advantage? David Ricardo Adam Smith Bertil Ohlin Raymond Vernon Question 5. Question : Comparative advantage theory focuses on which of the following? Maximization of production and consumption Logistics planning Resource assessment Creation of trade surpluses Question 6. Question : The focus of factor proportions theory is on the ________. productivity of the production process cost-effectiveness of the production process use of abundant production factors use of expensive production factors Question 7. Question : Which element of national competitive advantage theory divides resources into two groups, basic and advanced? Demand conditions Factor conditions Related and supporting industries Firm, strategy, structure, and rivalry Question 8. Question : Which of the following is not a problem associated with the infant industry argument? It can cause domestic companies to become overly innovative. Once protection of an industry is given, it can be politically difficult to eliminate. Protection can do more economic harm than good. Governments might have difficulty identifying the industries worth protecting. Question 9. Question : Which of the following is not an example of an instrument that government uses to promote trade? Tariffs Subsidies Export financing Foreign trade zones Question 10. Question : Which of the following adds to the cost of an imported product by levying an additional tax upon it? Tariffs Quotas Local content requirements Embargoes Question 11. Question : The ________ altered U.S. trade policy from a stance of free trade to one of protectionism. General Agreement on Trade and Tariffs Multi-Fibre Arrangement Normalized Trade Relations Act Smoot-Hawley Act Question 12. Question : Which of the following are main drivers of foreign direct investment? Diversity and telecommunications Telecommunications and transportation Globalization and mergers and acquisitions (M&A) Diversity and globalization Question 13. Question : A market that is said to operate at peak efficiency and where goods are readily and easily available is said to be a(n) ________. perfect market eclectic market imperfect market greenfield market Question 14. Question : The main difference between a free-trade area and a customs union is that the members of a customs union ________. agree to treat trade with all nonmember nations in a similar manner agree to the free movement of all factors of production harmonize their tax, monetary, and fiscal policies and create a common currency accept a common stance on economic and political policies regarding nonmember nations Question 15. Question : The strategy formulation process involves both ________. planning and strategy strategy and structure planning and marketing strategy and production Question 16. Question : Which of these strategies are appropriate for companies in industries where buyer preferences do not converge across national borders? Retrenchment Global Multinational Stability Question 17. Question : A ________ strategy can cause a company to overlook important differences in buyer preferences from one market to another. global retrenchment multidomestic multinational Question 18. Question : Collection and analysis of information used to assist managers in making informed decisions is known as ________. data collection market research secondary market research market analysis Question 19. Question : Which of the following is not a difficulty associated with conducting international market research? Availability of data Comparability of data Cultural differences Economic differences Question 20. Question : The process of obtaining information that already exists within the company or that can be obtained from outside sources is called ________. secondary market research logistics management primary market research invalid market research Question 21. Question : When an exporter ships merchandise and later bills the importer for its value, it is using a(n) ________ type of export/import financing. advance payment open account letter of credit documentary collection Question 22. Question : Which of the following is not a form of investment entry? Strategic alliance Wholly owned subsidiary Joint venture Turnkey project Question 23. Question : Brand names are central to a product's ________. personality raw materials reproducibility inventory planning Question 24. Question : Countries that top the list for the portion of their markets comprised of counterfeits include each of the following except ________. China India Russia United Kingdom Question 25. Question : Which of the following is a promotional strategy designed to pressure channel members to carry a product and promote it to final users? Pull strategy Adaptive channel strategy Push strategy End distribution strategy Question 26. Question : Examples of pull strategies include each of the following except ________. mass media advertising direct marketing techniques free trial packages encouraging good retail visibility Question 27. Question : The physical path a product follows on its way to customers is called a ________. distribution channel promotional mix path value density just-in-time path Question 28. Question : The process of assessing a company's ability to produce enough output to satisfy market demand is called ________. location economics capacity planning process planning facilities layout planning Question 29. Question : The psychological process of readapting to one's home culture is called ________. culture shock reverse recruitment reverse culture shock expatriate failure Points Received: 0 of 1 Question 30. Question : The senior manager recommends that Hafstrom obtain auto parts from a country where production activity generates more value than it could generate elsewhere. He is recommending taking advantage of which of the following? Just-in-time manufacturing processes Japanese manufacturing precision German auto technology Location economies
Solution Description

 

Question 1. Question :

The sale of government-owned economic resources to private operators is called _______.

the price mechanism

laissez-faire economics

privatization

guanxi

Question 2. Question :

In most failed centrally planned economies ________.

market conditions helped determine who produced various goods

prices of products were a function of supply and demand

central planning agencies specified production goals and decided prices

central planners paid attention to efficiency improvement

Question 3. Question :

The practice of mercantilism rested upon each of the following except ________.

enhanced trade deficits

government intervention

colonialism

trade surpluses

Question 4. Question :

Who proposed the theory of absolute advantage?

David Ricardo

Adam Smith

Bertil Ohlin

Raymond Vernon

Question 5. Question :

Comparative advantage theory focuses on which of the following?

Maximization of production and consumption

Logistics planning

Resource assessment

Creation of trade surpluses

Question 6. Question :

The focus of factor proportions theory is on the ________.

productivity of the production process

cost-effectiveness of the production process

use of abundant production factors

use of expensive production factors

Question 7. Question :

Which element of national compet

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