GSCM 311 MIDTERM QUESTIONS &
ANSWERS(RATED A+)
Which of the following are seen as unethical in many western cultures but are not
seen as unethical in other cultures?
Freely Sharing Intellectual Property
Bribery
Caste systems
Child Labor
All of the Other Options - ANSWERAll of the Other Options
During which phase of PEST analysis would you include research on education?
Economic
Technological
Political
Educational
Socio-Cultural - ANSWERSocio-Cultural
Which of the following ownership strategies requires the most operational support?
Licensing
Direct ownership
Franchising
Marketing - ANSWERDirect ownership
According to the PEST analysis video, which of the following constitutes a socio-
cultural factor?
Population demographics
Human rights
All answers listed
National culture and values
Religion
DEFINITION
ENGLISH - ANSWERAll answers listed
The "Bretton Woods System" has been the foundation of ...
Economics laws since 2005
Regional trade since 1956
World trade since 1944
Tax systems since 1935 - ANSWERWorld trade since 1944
According to Milton Friedman what will result in prosperity for North America?
Insource All Steel Production to the U.S.
Use Local Infrastructure to Exclusively Trade Within North America
Open Our Boundaries
, Increase Tariffs on Chinese Goo - ANSWEROpen Our Boundaries
The _____________ is probably the most famous of these trading blocs, where non-
tariff barriers to trade have been collectively removed by member nations. The
_____________ now has 27 members and was originally inspired by a small open
borders trading union between Belgium, The Netherlands, and Luxembourg. (The
two blanks are the same word). - ANSWEREuropean Union
According to the reading, free trade is beneficial to all countries because each can
gain if it specializes according to this economic principle:
Scarcity of Goods
Tragedy of Commons
Comparative Advantage
Pareto Efficient Production - ANSWERComparative Advantage
Choose the title that matches this definition.
"A country should specialize in producing and exporting only those goods and
services which it can produce more efficiently (at lower opportunity cost) than other
goods and services (which it should import)."
Absolute Advantage
Comparative Advantage
Competitive Advantage
Mercantilism - ANSWERComparative Advantage
The number of jobs needed to produce manufactured goods has been increasing for
many decades as robots and better manufacturing methods have replaced more
labor-intensive operations. - ANSWERFalse
True or False? Globalization for business typically refers to the make or buy decision
beyond national borders. - ANSWERTrue
Who founded the basic concept of international trade theory? - ANSWERDavid
Ricardo
Which of the following is not a desired result of conducting a PEST analysis?
Confirm your personal cultural schemas
Implement appropriate practices
Spot opportunities
Avoid problematic practices - ANSWERConfirm your personal cultural schemas
For companies who choose a self-governance approach to service operations, they
are always better off than outsourcing to another firm - ANSWERFalse
From the "Did We Expand Too Quickly?" case, the UK was chosen as an
international location for Ascendancy in part because climbing was already a
prominent and established pass-time at that location. - ANSWERFalse
What does the "E" stand for in "P.E.S.T. analysis"? - ANSWEREconomic
ANSWERS(RATED A+)
Which of the following are seen as unethical in many western cultures but are not
seen as unethical in other cultures?
Freely Sharing Intellectual Property
Bribery
Caste systems
Child Labor
All of the Other Options - ANSWERAll of the Other Options
During which phase of PEST analysis would you include research on education?
Economic
Technological
Political
Educational
Socio-Cultural - ANSWERSocio-Cultural
Which of the following ownership strategies requires the most operational support?
Licensing
Direct ownership
Franchising
Marketing - ANSWERDirect ownership
According to the PEST analysis video, which of the following constitutes a socio-
cultural factor?
Population demographics
Human rights
All answers listed
National culture and values
Religion
DEFINITION
ENGLISH - ANSWERAll answers listed
The "Bretton Woods System" has been the foundation of ...
Economics laws since 2005
Regional trade since 1956
World trade since 1944
Tax systems since 1935 - ANSWERWorld trade since 1944
According to Milton Friedman what will result in prosperity for North America?
Insource All Steel Production to the U.S.
Use Local Infrastructure to Exclusively Trade Within North America
Open Our Boundaries
, Increase Tariffs on Chinese Goo - ANSWEROpen Our Boundaries
The _____________ is probably the most famous of these trading blocs, where non-
tariff barriers to trade have been collectively removed by member nations. The
_____________ now has 27 members and was originally inspired by a small open
borders trading union between Belgium, The Netherlands, and Luxembourg. (The
two blanks are the same word). - ANSWEREuropean Union
According to the reading, free trade is beneficial to all countries because each can
gain if it specializes according to this economic principle:
Scarcity of Goods
Tragedy of Commons
Comparative Advantage
Pareto Efficient Production - ANSWERComparative Advantage
Choose the title that matches this definition.
"A country should specialize in producing and exporting only those goods and
services which it can produce more efficiently (at lower opportunity cost) than other
goods and services (which it should import)."
Absolute Advantage
Comparative Advantage
Competitive Advantage
Mercantilism - ANSWERComparative Advantage
The number of jobs needed to produce manufactured goods has been increasing for
many decades as robots and better manufacturing methods have replaced more
labor-intensive operations. - ANSWERFalse
True or False? Globalization for business typically refers to the make or buy decision
beyond national borders. - ANSWERTrue
Who founded the basic concept of international trade theory? - ANSWERDavid
Ricardo
Which of the following is not a desired result of conducting a PEST analysis?
Confirm your personal cultural schemas
Implement appropriate practices
Spot opportunities
Avoid problematic practices - ANSWERConfirm your personal cultural schemas
For companies who choose a self-governance approach to service operations, they
are always better off than outsourcing to another firm - ANSWERFalse
From the "Did We Expand Too Quickly?" case, the UK was chosen as an
international location for Ascendancy in part because climbing was already a
prominent and established pass-time at that location. - ANSWERFalse
What does the "E" stand for in "P.E.S.T. analysis"? - ANSWEREconomic
