Exam
Multidimensional Care I Exam 1 MDC 1 Exam 1
2023
Big Tire Bikes Inc. is headquartered in Maryland and does business within the United
States, as well as within many countries in Europe and South America. This company is
an example of a(n) - ANSWER: International Business
International business differs from domestic business in that a firm operating across
borders must deal with the forces associated with which three kinds of environments? -
ANSWER: foreign, domestic, international
Gabriel Industries is located near a port city which allows it to ship products easily
overseas to its international customers. The geographic location of the company is an
example of a(n) - ANSWER: external force
Foreign environmental forces often operate differently than domestic environmental
forces because - ANSWER: the forces are interrelated
The kinds of forces in the foreign environment are ________ those in the domestic
environment except that they occur in foreign nations. - ANSWER: the same as
Historically, international business as a business practice is considered - ANSWER:
relatively new
________ was the world's leading manufacturing country for about 1,800 years, until it
was replaced by Britain in about 1840. - ANSWER: China
Jensen Control Corp. now uses videoconferencing which helps the sales team
demonstrate products to prospective international customers while eliminating
expensive travel costs. Which of the five drivers of international business does this
represent? - ANSWER: technological
Sanjay is the director of operations for Fresh Farm Produce Corp. and is now able to
sell his product to the international market thanks to a new computer system that is
specifically designed for businesses in the fresh food industry. Which driver helped
Sanjay's company internationalize? - ANSWER: technological
The argument that free trade is the best strategy for advancing the world's economic
development is considered - ANSWER: a proposition with which almost all economists
agree
According to supporters of the globalization of trade and investment, free trade -
ANSWER: creates more and better jobs
According to opponents of the globalization of trade and investment, - ANSWER:
globalization has contributed to a decline in environmental and health conditions
, Exam
Multidimensional Care I Exam 1 MDC 1 Exam 1
2023
Overall, what has occurred with the dollar volume of service exports worldwide? -
ANSWER: There has been an absolute increase
NAFTA and other treaties are the main reasons that most of Canada's exports go to -
ANSWER: the United States
The three largest markets for American exports of goods in 2017 were - ANSWER:
Canada, Mexico, and China
If Ecuador has an absolute advantage in coffee and Argentina in wheat, then, according
to trade theory - ANSWER: Ecuador should focus production on coffee and trade for
other goods
A nation having absolute disadvantages in the production of two goods with respect to
another nation has a(n) ___________ in the production of the good in which its absolute
disadvantage is less. - ANSWER: comparative advantage
According to the theory of comparative advantage, trade can benefit - ANSWER: both
countries involved in a trade
According to the theory of comparative advantage, a nation - ANSWER: should produce
the goods for which its absolute disadvantage is less
How are exchange rates used in international trade? - ANSWER: Exchange rates are
used to convert from foreign to domestic currency.
The theory of overlapping demand explains - ANSWER: the existence of similar
preferences and demands among countries with similar income levels.
The international product life cycle is used to - ANSWER: explain how international
trade in manufactured goods will be linked to gross national income.
The two components of foreign investment include portfolio investment and - ANSWER:
direct investment
The theory suggesting that rivalry between firms in an oligopolistic industry will result in
firms closely following and imitating each other's international investments in order to
keep a competitor from gaining an advantage is known as - ANSWER: strategic
behavior theory
Multidimensional Care I Exam 1 MDC 1 Exam 1
2023
Big Tire Bikes Inc. is headquartered in Maryland and does business within the United
States, as well as within many countries in Europe and South America. This company is
an example of a(n) - ANSWER: International Business
International business differs from domestic business in that a firm operating across
borders must deal with the forces associated with which three kinds of environments? -
ANSWER: foreign, domestic, international
Gabriel Industries is located near a port city which allows it to ship products easily
overseas to its international customers. The geographic location of the company is an
example of a(n) - ANSWER: external force
Foreign environmental forces often operate differently than domestic environmental
forces because - ANSWER: the forces are interrelated
The kinds of forces in the foreign environment are ________ those in the domestic
environment except that they occur in foreign nations. - ANSWER: the same as
Historically, international business as a business practice is considered - ANSWER:
relatively new
________ was the world's leading manufacturing country for about 1,800 years, until it
was replaced by Britain in about 1840. - ANSWER: China
Jensen Control Corp. now uses videoconferencing which helps the sales team
demonstrate products to prospective international customers while eliminating
expensive travel costs. Which of the five drivers of international business does this
represent? - ANSWER: technological
Sanjay is the director of operations for Fresh Farm Produce Corp. and is now able to
sell his product to the international market thanks to a new computer system that is
specifically designed for businesses in the fresh food industry. Which driver helped
Sanjay's company internationalize? - ANSWER: technological
The argument that free trade is the best strategy for advancing the world's economic
development is considered - ANSWER: a proposition with which almost all economists
agree
According to supporters of the globalization of trade and investment, free trade -
ANSWER: creates more and better jobs
According to opponents of the globalization of trade and investment, - ANSWER:
globalization has contributed to a decline in environmental and health conditions
, Exam
Multidimensional Care I Exam 1 MDC 1 Exam 1
2023
Overall, what has occurred with the dollar volume of service exports worldwide? -
ANSWER: There has been an absolute increase
NAFTA and other treaties are the main reasons that most of Canada's exports go to -
ANSWER: the United States
The three largest markets for American exports of goods in 2017 were - ANSWER:
Canada, Mexico, and China
If Ecuador has an absolute advantage in coffee and Argentina in wheat, then, according
to trade theory - ANSWER: Ecuador should focus production on coffee and trade for
other goods
A nation having absolute disadvantages in the production of two goods with respect to
another nation has a(n) ___________ in the production of the good in which its absolute
disadvantage is less. - ANSWER: comparative advantage
According to the theory of comparative advantage, trade can benefit - ANSWER: both
countries involved in a trade
According to the theory of comparative advantage, a nation - ANSWER: should produce
the goods for which its absolute disadvantage is less
How are exchange rates used in international trade? - ANSWER: Exchange rates are
used to convert from foreign to domestic currency.
The theory of overlapping demand explains - ANSWER: the existence of similar
preferences and demands among countries with similar income levels.
The international product life cycle is used to - ANSWER: explain how international
trade in manufactured goods will be linked to gross national income.
The two components of foreign investment include portfolio investment and - ANSWER:
direct investment
The theory suggesting that rivalry between firms in an oligopolistic industry will result in
firms closely following and imitating each other's international investments in order to
keep a competitor from gaining an advantage is known as - ANSWER: strategic
behavior theory
