Which countries make-up the Group of Seven (G7)?

France, US, Canada, Great Britain, Italy, Germany, Japan

what is a market economic system?

an economic system determined by free competition.

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

Participants may contribute ideas at any time

An absolute advantage is:

The ability to make a product more efficeniently than others

coperations and people are encouraged to make a profit

When is it important to study the culture of a foreign market?

When the language, habits & beliefs are very different

Stives to controll all aspects of citzens lives

Licensing Agreements...:

Give permission to use services, brands etc..

The four stages of the business cycle are:

Recession, Trough, Expansion, Peak

What is ethical imperialism?

Certain universal values are standard across all countries

What is a subculture? Madison

A cultural group within a larger one

Defined Multi-domestic Strategy ?

A strategy regarding each country as their own market

Which of the following is NOT true of theEuropean Union:

All member countries use the EURO currency

Ethnocentrism is the belief that:

Your own culture is seen the right way of doing things

What are cultural norms?

Cultural expectations, appearance, and behaviours

What are the riskiest types of international business?

Joint Venture & Foreign Subsidiaries

Which of the following is not a transaction?

Receiving $30 from your parents to go to the movies

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

Canadians travelling to the United States

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Questions 49

Answers

1
Which is not a disadvantage of the common currency?
Initial Cost
Easy Billing
Loss of tradition
Lack of national control
2
Microcredit is used to:
Spur entrepreneurship
Travel to less impoverished areas in search ofwork
Feed large families
Purchase medicines
3
What is the positive effect of globalization
All of the above
Better Jobs
Innovation
Lower Prices
4
What is not one of the 4 P's
Production
Price
Place
Promotion
5
Which countries make-up the Group of Seven (G7)?
US, Canada, Great Britain, CHina, Italy, GErmany, Brazil
Canada, Brazil, US, Great Britain, China, France, Italy
France, US, Canada, Great Britain, Italy, Germany, Japan
Canada, US, South Korea, France, China, Germany, France
6
Which of the following are ways for a business to considered an international business?
All of the above
Import from businesses in another country
Invest in another country
Export to businesses in another country
7
Which of the following is a disadvantage ofNAFTA
Mexican farmers unable to compete without thetariffs
More pollution in Mexico
Manufacturing jobs lost in Canada and the U.S.
All of the above.
8
what is a market economic system?
an economic system determined by free competition.
an economic system that is controlled by the government.
none of the above
both a & b
9
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
10
The idea that right and wrong is standard all across all cultures
Cultural relativism
Cultural consistency
Global ethical reasoning
Ethical imperialism
11
Why do companies expand internationally?
Canada is bad at business
it is easier to sell products
Staff like to travel
To expand sales territory
12
What is not exported from Canada:
cars
All of the above
lumber
crude oil
13
A domestic business in Canada is:
a and b only
a)Owned by Canadians
b)Relies on Canadian products and services
c)An exchange of things of value
14
Japan, Germany, and Australia fit into whichcategory?
None of the above
Developed countries
Underdeveloped countries
Developing countries
15
An absolute advantage is:
having enough resources to make one product
Only being able to make 1 product
being able to make all products efficently
The ability to make a product more efficeniently than others
16
What country was just removed from the G7?
Russia
France
United Kingdom
Canada
17
What year was NAFTA launched:
1994
1990
1978
1984
18
Studies, Statistics Canada, and the phone book areall examples of:
None of the above
Secondary data
Marketing tools
Primary data
19
In a market economy:
coperations and people are encouraged to make a profit
All of the above
companies compete against one and other
profit belongs the the government
20
Which of these are considered secondary stakeholders
Labour unions
The media
Shareholders
Creditors/banks
21
Developed countries are characterized by:
High Literacy Rates
Major advancements in health care and technology
All of the above
High standards of living
22
When is it important to study the culture of a foreign market?
Never
When the language, habits & beliefs are very different
If the foreign market is over seas
When there is difference of religions
23
A(n) ______ is a product from a foreign market
service
export
good
import
24
The total goods and services produced by onecountry in one year is referred to as:
Comparative advantage
Gross domestic product
Absolute advantage
Exports and imports
25
Which of these are primary stakeholders?
Community
The media
Professional or trade organizations
Creditors/banks
26
This is not a positive effect of globalization?
Lower Price
Outsourcing
Increase in the income gap
Increased productive
27
Autocracy usually:
Citizens have a strong influence on the government
Has a weak military presence
Forces citzens to work
Stives to controll all aspects of citzens lives
28
What are Tax Treaties unable to do?
Prevent tariffs
Determine how much tax each contry can collect
Prevent double taxation
Finance Canada lists tax treaties with 91 countries
29
Licensing Agreements...:
Give permission to use services, brands etc..
Are not wise because royalties cost too much
A & C are correct
allow copying of patent without consent
30
Best example of a Joint Venture:
Chapters and Best Buy
Sony & Ericsson
Starbucks & Indigo
Tim Hortons & Burger King
31
The four stages of the business cycle are:
Recession, Expansion,Peak, Trough
Expansion, Peak, Trough, Recesion
Trough, Peak, Recession, Expansion
Recession, Trough, Expansion, Peak
32
Purchasing a new coat from an online retaileris an example of which type of transaction?
None of the above
B2B
B2C
B2G
33
What is ethical imperialism?
None of the above
Recognizing countries with ethical issues
Certain universal values are standard across all countries
Values of different cultures must be respected
34
Which is one of the two C's
Competition
Comparative Advantage
Contract
Corporation
35
The positive results of globalization include:
All of the above
Improved human rights
Increased productivity
Lower prices
36
What is a subculture? Madison
A joined culture between 2 countries
The dis belief in a culture
A broad culture group
A cultural group within a larger one
37
Defined Multi-domestic Strategy ?
None of the above
A strategy regarding each country as their own market
A strategy regarding the world as one big market
A combination of both A and B
38
Which of the following is NOT true of theEuropean Union:
Each member of the EU has a market economy
Every member of the EU has ademocratic government
All member countries can help make EU laws and policies
All member countries use the EURO currency
39
Ethnocentrism is the belief that:
Selling a product in another country is bad foryour company
All cultures are equal in themarketplace
Selling a product is based on that country's culture
Your own culture is seen the right way of doing things
40
Underdeveloped countries are alsoknown as:
Third world countries
Second world countries
Industrialized nations
Emerging nations
41
"When in Rome, do as the Romansdo" can be used to describe which of the following ideas?
Ethical imperialism
Corporate social responsibility
Corporate corruption
Cultural relativism
42
What are cultural norms?
The religion practiced within a culture
Cultural expectations, appearance, and behaviours
A culture without the presence of religion
Topics banned within a specific culture
43
To which country does Canada send the majorityof its exports?
United Kingdom
United States
Japan
Mexico
44
What are the riskiest types of international business?
Franchising & Purchasing Stock
Joint Venture & Foreign Subsidiaries
Franchising & Foreign Subsidiaries
Joint Venture & Franchising
45
Which of the following is NOT a trade organization?
IMF
UN
WTO
APEC
46
Which of the following is not a transaction?
Using a credit card to buy chicken nuggets at KFC
Receiving $30 from your parents to go to the movies
Buying a computer from an electronics store
Selling lemonade for $0.50 each
47
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
48
What is a negative effect of globalization
Terrorism
Immigration
None of the above
Spread of disease
49
Fair trade means:
That workers have been paid fair wages
All of the above
That products are produced in safe conditions
That the right to join a union is made possible

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