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LEVY BBB Exam Review
A domestic business in Canada is:
What are the riskiest types of international business?
LEVY BBB Exam Review
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1
What are the riskiest types of international business?
<p>Joint Venture & Foreign Subsidiaries</p>
Franchising & Purchasing Stock
Joint Venture & Franchising
Franchising & Foreign Subsidiaries
2
A domestic business in Canada is:
c)An exchange of things of value
b)Relies on Canadian products and services
<p>a and b only</p>
a)Owned by Canadians
3
To which country does Canada send the majorityof its exports?
Japan
Mexico
United States
United Kingdom
4
Best example of a Joint Venture:
Chapters and Best Buy
Starbucks & Indigo
Tim Hortons & Burger King
Sony & Ericsson
5
The four stages of the business cycle are:
Recession, Expansion,Peak, Trough
Trough, Peak, Recession, Expansion
Expansion, Peak, Trough, Recesion
Recession, Trough, Expansion, Peak
6
Which of these are considered secondary stakeholders
Shareholders
Labour unions
The media
Creditors/banks
7
A government imposed trade barrier that prevents trade, from a particular country is
Trade Quota
trade embargo
Trade limit
Tariff
8
Ethnocentrism is the belief that:
Your own culture is seen the right way of doing things
Selling a product is based on that country's culture
Selling a product in another country is bad foryour company
All cultures are equal in themarketplace
9
In a market economy:
All of the above
companies compete against one and other
profit belongs the the government
coperations and people are encouraged to make a profit
10
Japan, Germany, and Australia fit into whichcategory?
None of the above
Developed countries
Developing countries
Underdeveloped countries
11
When is it important to study the culture of a foreign market?
When the language, habits & beliefs are very different
If the foreign market is over seas
Never
When there is difference of religions
12
What is not exported from Canada:
All of the above
lumber
<p>cars</p>
crude oil
13
Which of the following are ways for a business to considered an international business?
All of the above
Invest in another country
Export to businesses in another country
Import from businesses in another country
14
what is a market economic system?
none of the above
an economic system that is controlled by the government.
both a & b
an economic system determined by free competition.
15
What is a subculture? Madison
The dis belief in a culture
<p>A joined culture between 2 countries</p>
A cultural group within a larger one
A broad culture group
16
Which countries make-up the Group of Seven (G7)?
Canada, US, South Korea, France, China, Germany, France
US, Canada, Great Britain, CHina, Italy, GErmany, Brazil
France, US, Canada, Great Britain, Italy, Germany, Japan
Canada, Brazil, US, Great Britain, China, France, Italy
17
An absolute advantage is:
The ability to make a product more efficeniently than others
being able to make all products efficently
having enough resources to make one product
Only being able to make 1 product
18
Why do companies expand internationally?
To expand sales territory
Canada is bad at business
Staff like to travel
it is easier to sell products
19
What is ethical imperialism?
None of the above
Recognizing countries with ethical issues
Values of different cultures must be respected
Certain universal values are standard across all countries
20
Which is not a disadvantage of the common currency?
Easy Billing
Loss of tradition
Initial Cost
Lack of national control
21
Microcredit is used to:
Spur entrepreneurship
Travel to less impoverished areas in search ofwork
Purchase medicines
Feed large families
22
Licensing Agreements...:
Are not wise because royalties cost too much
allow copying of patent without consent
Give permission to use services, brands etc..
A & C are correct
23
Defined Multi-domestic Strategy ?
A strategy regarding the world as one big market
A strategy regarding each country as their own market
A combination of both A and B
None of the above
24
. In which of the following trading areas do nations share a common currency?
FTAA
APEC
NAFTA
EU
25
Which of the following is a characteristic ofmeetings in polychronic cultures?
Meetings begin and end promptly
) Lateness is viewed as disrespectful
Participants may contribute ideas at any time
An agenda is set and followed
26
A(n) ______ is a product from a foreign market
import
good
export
service
27
Fair trade means:
That workers have been paid fair wages
That the right to join a union is made possible
That products are produced in safe conditions
All of the above
28
Which of the following is not a transaction?
Buying a computer from an electronics store
Receiving $30 from your parents to go to the movies
Using a credit card to buy chicken nuggets at KFC
Selling lemonade for $0.50 each
29
A highCanadian dollar has a positive effect on which of the following?
Canadian businesses that export goods
Canadian tourist attractions, such as NiagaraFalls
Canadians travelling to the United States
Retail stores in Canada
30
What is the positive effect of globalization
Better Jobs
Innovation
Lower Prices
All of the above
31
The total goods and services produced by onecountry in one year is referred to as:
Gross domestic product
Absolute advantage
Exports and imports
Comparative advantage
32
What are cultural norms?
The religion practiced within a culture
A culture without the presence of religion
Topics banned within a specific culture
Cultural expectations, appearance, and behaviours
33
Developed countries are characterized by:
All of the above
Major advancements in health care and technology
High standards of living
High Literacy Rates
34
What is a negative effect of globalization
None of the above
Immigration
Spread of disease
Terrorism
35
Which of the following is NOT true of theEuropean Union:
All member countries use the EURO currency
Each member of the EU has a market economy
All member countries can help make EU laws and policies
Every member of the EU has ademocratic government
36
Underdeveloped countries are alsoknown as:
Industrialized nations
Second world countries
Emerging nations
Third world countries
37
This is not a positive effect of globalization?
Outsourcing
Increase in the income gap
Increased productive
Lower Price
38
"When in Rome, do as the Romansdo" can be used to describe which of the following ideas?
Corporate corruption
Ethical imperialism
Corporate social responsibility
Cultural relativism
