A market economy means that ____.

Production is privately owned and determined by supply and demand.

a country ruled by a religious government.

In a command economy, ___.

The government decides what is produced and the price it is sold.

Managing an International Business is different from managing a domestic business because:

countries have different practices.

Which of the following is the most critical difference between domestic business and international business?

The environment in which business plans must be implemented

The fact that countries have different religions ____

has a significant impact on business.

The availability of natural resources in a country ___.

is an important element of a production and supply chain decision.

Could the Iphone be considered a global product?

Yes, as its production processes involve many countries of the world.

A country is more attractive when ____

It is stable politically and economically advanced.

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Review C1 & C2 IBM

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Answers

1
A market economy means that ____.
Production is privately owned and determined by the government.
Production is state owned and determined by the government.
Production is state owned and determined by supply and demand.
Production is privately owned and determined by supply and demand.
2
A population of 1.5 billion people in China represents an opportunity for:
Production
Both production and sales
Sales
The global supply chain strategy
3
A theocracy is ___
a country ruled by a socialist government.
a country ruled by a capitalist government.
a country ruled by a religious government.
a country ruled by a liberal government.
4
In a command economy, ___.
Private companies decide what is produced and the price it is sold.
The government decides what is produced and the price it is sold.
Households decide what is produced and the price it is sold.
Investors decide what is produced and the price it is sold.
5
Managing an International Business is different from managing a domestic business because:
it is easier.
countries have different practices.
it is more profitable.
it is faster.
6
Which of the following is the most critical difference between domestic business and international business?
The different concepts of business
The change in corporate objectives
The environment in which business plans must be implemented
The change in marketing goals
7
The fact that countries have different religions ____
has a significant impact on business.
mostly affects politics.
does not affect consumption.
relates to culture but not to business.
8
The availability of natural resources in a country ___.
is an important element of a marketing and sales decision.
is the single most important element of a country’s attractiveness.
is not important in an international business decision.
is an important element of a production and supply chain decision.
9
Could the Iphone be considered a global product?
Yes, as its production processes involve many countries of the world.
No, as it’s made by Apple, an American firm.
No, it’s American as it is designed in California.
No, as it is made in China.
10
A country is more attractive when ____
It is stable politically and economically undeveloped.
It is stable politically and economically advanced.
It is unstable politically and economically undeveloped.
It is unstable politically and economically advanced.

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