Duplicate of Marketing -- Ch. 4

The major benefit of contract manufacturing is

A disadvantage of contract manufacturing is the

Globalization is most closely related to

Which does NOT fall under a political element within the PEST?

Exchange rates vary

Group of countries that make rules governing international trade on several continents

Creating specially designed products for Germany is known as

All countries use the same economic indicators to evaluate their economies.

Countries experience a trade surplus when they import more that they export.

Allowing another company to use your trademark or patent for a fee is called

A positive balance of trade means that the nation imports more then it exports.

A tariff is a limit on the number or monetary value of a product that can be imported.

Which trade alliance extablishes guidelines for international trade?

Changing the language on packaging is an example of

Because individual countries possess unique resources and skills, they

If a country can grow corn cheaper then any other country, that country is said to have a(n) _________ in growing corn.

_______________ are midsize or smaller companies that have operations in foreign countries.

In some nations, foreign investors can't own 100% of a business. A foreign business will find a local partner to set up

GATT was an international agreement to open trade markets and promote global free treade.

A country's infrastructure includes its roads, bridges, and communication systems.

A gift might be part of the business etiquette in some countries, however, in the U.S. it could be considered an illegal

Which is NOT an example of socio-cultural factors within the PEST?

Trade agreement between the U.S., Mexico, and Canada

Why did GATT morph into the WTO?

A complete ban on a product from entering the country