International Trade and Logistics

Question 1

Trade deficit is a situation where...

Accepted Answer

...the total exports of a country are worth less than its total imports.

Question 2

Just-in-time manufacturing is a process that plans for parts to arrive on the assembly line long before they are needed.

Accepted Answer

False

Question 3

The East African Community is a regional intergovernmental organisation of six Partner States.

Accepted Answer

True

Question 4

Land, labour, capital and entrepreneurship are factors of economic production.

Accepted Answer

True

Question 5

Market Drivers are when companies enter foreign markets...

Accepted Answer

...as their customers expect them to be present in those countries.

Question 6

Over its life, a product will be manufactured in stages in different types of countries, generating international trade.

Accepted Answer

International Product Life Cycle Theory

Question 7

International trade is...

Accepted Answer

...the sale of goods and services across international borders.

Question 8

The Eurasian Economic Union is a national organisation for regional economic integration.

Accepted Answer

False

Question 9

Shipping containers were introduced in the late

Accepted Answer

1950s

Question 10

Which of the following is NOT a strategic advantage of International Logistics management:

Accepted Answer

There may be some failures in international coordination.

Question 11

Reshoring is the practice of returning the manufacturing processes that had been outsourced abroad to the home country.

Accepted Answer

True

Question 12

The Treaty of Rome is a treaty between five European countries that created the European Union.

Accepted Answer

False

Question 13

Early modern logisticians were concerned primarily with speed.

Accepted Answer

False

Question 14

The General Agreement on Tariffs and Trade is...

Accepted Answer

...an agreement between countries to lower tariffs and trade barriers.

Question 15

The WTO enforces international trade agreements and ensures that countries deal fairly with one another.

Accepted Answer

True

Question 16

When an Italian company entered the U.S market, an American company retaliated by entering the Italian market. This is:

Accepted Answer

a competition driver

Question 17

The Euro was created in

Accepted Answer

1999

Questions 17