INTB 200 MIDTERM QUESTIONS AND ANSWERS
International Business - Answers - Those business activities of private and public
enterprises that involve the movement of resources across national boundaries.
Resources are broadly defined to include raw materials, capital, and people.
Globalization (refers to) - Answers - the shift toward a more integrated and
interdependent world economic system
True - Answers - True or False:
Globalization is a phenomenon that is manifested by the increasing interdependence of
the world's national economies
False - Answers - True or False:
The global business environment is much more relaxed and easy-going for managers
now than it was 20 years ago
D) Markets and production - Answers - From the perspective of business, we see
globalization divided into two broad categories-the globalization of...
A) The east and west
B) The United Nations and the World Bank
C) The WTO and IMF
D) Markets and production
True - Answers - True or False:
A company may seek to go abroad when local markets are saturated
D) Promote free trade - Answers - GATT was created after WWII to:
A) Control the defeated Axis Powers
B) Start the Cold War
C) Defeat Communism
D) Promote free trade
World Trade Organization - Answers - The acronym WTO stands for...
True - Answers - True or False:
Globalization of Production means that firms can now search worldwide to take
advantage of lower costs in the factors of production
C) Non-government Organizations - Answers - The World Trade Organization, the
World Bank, The International Monetary Fund, and the United Nations are examples of:
A) World Government
B) World convergence
C) Non-government Organizations
, C) Declining trade and investment barriers, and technological change - Answers - Two
or more factors are driving the trend toward greater globalization. They are:
A) Economies of scope and scale
B) The IMF and the World Bank
C) Declining trade and investment barriers, and technological change
D) Macroeconomics and the gains from trade
D) All of the above - Answers - Examples of improved technology that have promoted
globalization are:
A) Microprocessors and telecommunications
B) The Internet and worldwide web
C) Transportation technology
D) All of the above
A) Political system - Answers - ...is a system of government in a nation
A) Political system
B) Dispute and resolution committee
C) Stock market
D) WTO
A) Political economy - Answers - ...is the combined economic, political and legal system
of a country
A) Political economy
B) Economic and legal geography
C) Trade economy
D) Political, Legal and Trade geography
B) Free trade - Answers - ...refers to a situation in which a government does not attempt
to influence through quotas or duties what its citizens can buy from another country or
what they can sell to another country.
A) Economies of fairness
B) Free trade
C) A regime of fairness
D) The invisible hand
A) Contract - Answers - Regarding the legal environment of a country, a ________
specifies the conditions under which an exchange is to occur and details the rights and
obligations of the parties involved.
A) Contract
B) Disagreement
C) Litigation
D) Arbitration
B) Common law - Answers - The _________ system (based on tradition, precedent, and
custom) is found in most of Great Britain's former colonies, including the United States.
A) Economic
International Business - Answers - Those business activities of private and public
enterprises that involve the movement of resources across national boundaries.
Resources are broadly defined to include raw materials, capital, and people.
Globalization (refers to) - Answers - the shift toward a more integrated and
interdependent world economic system
True - Answers - True or False:
Globalization is a phenomenon that is manifested by the increasing interdependence of
the world's national economies
False - Answers - True or False:
The global business environment is much more relaxed and easy-going for managers
now than it was 20 years ago
D) Markets and production - Answers - From the perspective of business, we see
globalization divided into two broad categories-the globalization of...
A) The east and west
B) The United Nations and the World Bank
C) The WTO and IMF
D) Markets and production
True - Answers - True or False:
A company may seek to go abroad when local markets are saturated
D) Promote free trade - Answers - GATT was created after WWII to:
A) Control the defeated Axis Powers
B) Start the Cold War
C) Defeat Communism
D) Promote free trade
World Trade Organization - Answers - The acronym WTO stands for...
True - Answers - True or False:
Globalization of Production means that firms can now search worldwide to take
advantage of lower costs in the factors of production
C) Non-government Organizations - Answers - The World Trade Organization, the
World Bank, The International Monetary Fund, and the United Nations are examples of:
A) World Government
B) World convergence
C) Non-government Organizations
, C) Declining trade and investment barriers, and technological change - Answers - Two
or more factors are driving the trend toward greater globalization. They are:
A) Economies of scope and scale
B) The IMF and the World Bank
C) Declining trade and investment barriers, and technological change
D) Macroeconomics and the gains from trade
D) All of the above - Answers - Examples of improved technology that have promoted
globalization are:
A) Microprocessors and telecommunications
B) The Internet and worldwide web
C) Transportation technology
D) All of the above
A) Political system - Answers - ...is a system of government in a nation
A) Political system
B) Dispute and resolution committee
C) Stock market
D) WTO
A) Political economy - Answers - ...is the combined economic, political and legal system
of a country
A) Political economy
B) Economic and legal geography
C) Trade economy
D) Political, Legal and Trade geography
B) Free trade - Answers - ...refers to a situation in which a government does not attempt
to influence through quotas or duties what its citizens can buy from another country or
what they can sell to another country.
A) Economies of fairness
B) Free trade
C) A regime of fairness
D) The invisible hand
A) Contract - Answers - Regarding the legal environment of a country, a ________
specifies the conditions under which an exchange is to occur and details the rights and
obligations of the parties involved.
A) Contract
B) Disagreement
C) Litigation
D) Arbitration
B) Common law - Answers - The _________ system (based on tradition, precedent, and
custom) is found in most of Great Britain's former colonies, including the United States.
A) Economic
