OAM 330 EXAM 1 QUESTIONS AND
ANSWERS 2024 WITH COMPLETE
SOLUTION TEST BANK COLLECTION 2026
COMPLETE SOLUTIONS GRADED A+
⩥ why trade. Answer: don't want to be self sufficient
efficiency
specialization
⩥ levels of trade. Answer: Domestic (between state & country)
International (2 or more countries)
Global
⩥ sourcing. Answer: determines most cost efficient vendor, materials,
production or finished goods at a specific quality, service, for delivery at
a certain time
⩥ sourcing. Answer: when picking a country look at (PESTN)
, Political
Economical
Social
Technological
Natural
⩥ measuring levels of trade. Answer: Trade (exports, import, trade
balance, trade deficit, trade surplus)
economic development (per capita, GDP, GNP)
⩥ trade balance. Answer: exports - imports
⩥ trade surplus. Answer: more exports than imports
⩥ trade deficit. Answer: more imports than exports
⩥ classification of countries. Answer: newly developing, developing,
developed
newly developing = trade surplus
ANSWERS 2024 WITH COMPLETE
SOLUTION TEST BANK COLLECTION 2026
COMPLETE SOLUTIONS GRADED A+
⩥ why trade. Answer: don't want to be self sufficient
efficiency
specialization
⩥ levels of trade. Answer: Domestic (between state & country)
International (2 or more countries)
Global
⩥ sourcing. Answer: determines most cost efficient vendor, materials,
production or finished goods at a specific quality, service, for delivery at
a certain time
⩥ sourcing. Answer: when picking a country look at (PESTN)
, Political
Economical
Social
Technological
Natural
⩥ measuring levels of trade. Answer: Trade (exports, import, trade
balance, trade deficit, trade surplus)
economic development (per capita, GDP, GNP)
⩥ trade balance. Answer: exports - imports
⩥ trade surplus. Answer: more exports than imports
⩥ trade deficit. Answer: more imports than exports
⩥ classification of countries. Answer: newly developing, developing,
developed
newly developing = trade surplus
