BBB4ME - Exam Prep

Which of the following is NOT true of a market economy?

Primary data is collected by surveys, questionnaires, interviews&speaking directly to potential customers of a business

The Four Ps of international marketing are:

Having competitive advantages in primary products only is in Canada’s best interest.

Coffee is the second most-traded commodity in the world (by value), second only to oil.

Why is microcredit so helpful to those who are living in poverty?

The total goods and services produced by one country in one year is referred to as:

In which of the following situations is knowledge of the culture of the foreign country involved least necessary?

At which stage of the business cycle does the economy stop expanding and begin contracting:

Optimization involves ordering a full truckload at a cheaper rate to save money.

The complexity and speed of business across the global supply chain increases due to:

Canada imports oil for use in its eastern provinces.

Which of the following does NOT fit the definition of a transaction?

The multidomestic strategy to globalization is best described as a strategy that:

It is more expensive to export e-waste to China and Africa than to dispose of it domestically.

Canadian company handles all foreign dealings domestically,the level of cultural awareness does not need to be very high

Canada has a centrally planned economy.

In a market economy profit is the reward for the risks taken.

What is the major drawback of using a centralized marketing strategy?

Canada has an absolute advantage over Sri Lanka, India, and Kenya in producing bulk black tea.

Black Money is often associated with

What positive effects does international business have for Canadians?

The negative effects of globalization include:

Which of the following is a characteristic of a mixed economy?

The more value we can add to products in Canada, the more jobs are created here.

The European Union has common financial, security and foreign policies.

Canadian businesses account for 20% of all global trade

Any business that conducts financial transactions outside of its native country is an international business.

The positive results of globalization include:

The main purpose of marketing is to sell the output of production.

Microcredit is used to:

The more operations you have in foreign markets, the greater the need for cultural knowledge.

Globalization is the process of nations and corporations merging into one common culture and marketplace.

Trade is responsible for sustainable development.

In North America, eye contact is seen as disrespectful &inappropriate &looking down is interpreted as a sign of respect

Which one of Geert Hofstede's cultural dimensions is related to the way cultures adapt to change?

Tim Hortons is a domestic business because the company is a symbol of Canada.

Developing nations have lower labour costs that Canadian businesses cannot match.

Containerization is the utilization of standard sized, reusable metal boxes to store and ship freight.

Bribes are an acceptable business practice in China, Taiwan and India.

What is a feature of cultures that have a high score in the uncertainty avoidance (UAI) dimension?

The Boston Pizza restaurant chain expanded into Canada from Boston, Massachusetts.

Globalization is not important to small Canadian businesses.

Which of the following is considered to be an illegal exchange in a business context?

When the Canadian dollar is low import costs are less, so prices drop on consumer goods.

It is often cheaper to ship Canadian-made goods across the border to the U.S. than across the country.

Paris, London, and New York are global style capitals and they determine what is in fashion throughout the world.

Ontario does not use oil produced in Alberta because it is too expensive to build an east-west pipeline across Canada.

Most of the lemons sold in Canada come from Morocco.

Canada's trade with the Middle East today centres around one commodity: oil.

Offshoring is another term for outsourcing

Paymentmade by a manufacturer to the owner of a trademark, which is a %of the revenue from the sale of a license product

In Saudi Arabia, women are not permitted to work alongside men (except in hospitals).

Since NAFTA’s inception, trade has tripled between Canada, Mexico and the United States.

If 2 countries specialize to produce items they have a comparative advantage&import each other's products, both benefit

Having an online store is frequently more cost effective than having a retail store.

Within the past 30 years, China has emerged as a major economic force.

Offshoring transfers major business functions to a branch of the company in another country to save on labour costs.

In Canada it is acceptable for young people to quit school to enter the labour market at 12 years of age.

Culture is transmitted from one generation to the next through education and example.

Ethnocentrism is the belief that:

In a democracy, each citizen is entitled to an education.

With a tariff, the increase in revenue is kept by the local and foreign producers.

More than 40% of Canada's gross domestic product (GDP) is exported.

The Free Trade Area of the Americas is the world's largest trading zone.

There are no true market economies in the world because every country has some government intervention.

Which of the following is NOT one of Geert Hofstede's cultural dimensions?

Recycled clothing is popular in Japan.

A high Canadian dollar has a positive effect on which of the following?

Which of the following is a characteristic of meetings in polychronic cultures?

Canada has a strong manufacturing industry sector, but a weak primary sector.

A business is considered an international business if which of the following is true?

When a company contracts out major business functions, on a long-term basis, to another company that specializes in that

Companies may use CSR to enhance their domestic reputation with consumers but may not act in an ethical manner in others

Developed countries tend to be characterized by long-term political issues, such as war and corruption.

The most common type of trade barrier is a trade sanction.

Domestic transactions are those that take place between two Canadian companies.

Logistics was originally what kind of term?

When speaking to another person, Canadians like to maintain a distance of at least half a metre.

White is a symbol of purity in Canada, but it is a symbol of death in China.

Once established, democracies are easy to maintain, so many people do not vote.

Factors that affect the exchange rate of a particular currency include:

Globalization always lowers wages and exports jobs in developed countries.

Saudi Arabian culture is primarily shaped by:

Fashion is very important in Japan because being out of style would make one lose face.

Immigrant communities within Canada that maintain parts of their own culture, including food, language, &religion, are

When the Canadian dollar is high, foreign countries buy fewer of our exports.

Which of the following are the effects on health due to globalization?

The sum total of all activities involved in getting goods&services from the original producer to the ultimate consumers

The segment of industry that produces both capital and consumer goods is referred to as:

What dictates the price at which the Canadian dollar is sold?

The stage of the business cycle that is defined as two consecutive quarters of negative gross domestic product (GDP) is:

NAFTA has common financial, security and foreign policies.

Coca-Cola's decision to sell Coke throughout the world, using different marketing strategies and local management, is an

Whether a transaction is domestic or international depends upon the businesses involved, not the product.

A market economy is also known as:

When the Canadian dollar is high,

Japan, Germany, and Australia fit into which category?

Warehouse space is more costly than retail space.

Foreign trade or international trade means the same thing as international business.