IB Final Exam Review

Components required for a contract to be valid and enforceable include

All of the following are benefits of international business except

The exchange rate for a stable country

The unemployment rate is an indicator of a country’s economic situation because

Expanding international trade activities causes goods available to consumers to decrease.

The final action in the personal selling process is to

Patents protect products around the world if the owner gets legal protection in native country

A person’s age and income are examples of demographic data.

International treaties and trade agreements may serve all the following purposes except

A method of international business with the lowest risk is

Consumer demand can be affected by high inflation.

Per capita GDP is a better measure of a nation’s economic development than total GDP because

An example of exporting would be

Manufacturers are liable for harm caused by their products if they intentionally caused harm.

All of the following are reasons for writing a business plan for a new business except

Multinational companies usually do not benefit the citizens of the host country.

Of the methods for getting involved in international business, the one with the highest risk is

A focus group may be used for qualitative research.

Items bought in free-trade zones then taken into the country are subject to customs duties.

Intermodal shipping methods ship goods by transferring them between different kinds of carriers

Feedback refers to communication from the audience back to the sender.

A market segment can be defined by

Religious beliefs are not likely to influence international business activities

Marketing activities include all of the following except

A common advantage of a corporation is

Consumers buy directly from retailers.

Movement of liquids between two connecting countries would be performed best by

Materials are usually considered to be a variable production cost.

A culture that values education for its members has a business advantage over those that don't.

An example of a distribution activity of a business is

Acceptance by others is

As the demand for a product increases, prices tend to

Companies may use public relations to gain or maintain a favorable public image.

When a company wants many customers for its new product, it will usually set a low price.

Promotional mix may be different in different countries due to social, laws & economics issues.

Intermediary that buys & sells products & distributes goods to markets in other countries

The International Monetary Fund sets the exchange rate for currencies in different countries.

Countries joined to eliminate trade barriers, invest freely and workers to move across borders

Extended families are very common in developed countries.

Customs duties are assessed to make imported products more expensive than products made locally