BBB4ME - Exam Prep

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

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

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

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

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

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

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

The negative effects of globalization include:

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

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

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

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

Canada has a centrally planned economy.

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

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

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

The Four Ps of international marketing are:

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

Logistics was originally what kind of term?

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

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

Saudi Arabian culture is primarily shaped by:

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

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

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

When the Canadian dollar is high,

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

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.

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

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

Canada imports oil for use in its eastern provinces.

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

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

Warehouse space is more costly than retail space.

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

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

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

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

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

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

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

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

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

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

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

A market economy is also known as:

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

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

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

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

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

Ethnocentrism is the belief that:

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

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

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

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

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

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

Canadian businesses account for 20% of all global trade

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

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

Recycled clothing is popular in Japan.

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

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

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

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

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

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

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

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

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

Globalization is not important to small Canadian businesses.

The positive results of globalization include:

Microcredit is used to:

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

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

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

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

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

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

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

Most of the lemons sold in Canada come from Morocco.

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

Black Money is often associated with

Globalization always lowers wages and exports jobs in developed countries.

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

Offshoring is another term for outsourcing

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

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

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

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

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

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

What positive effects does international business have for Canadians?

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

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

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

Trade is responsible for sustainable development.

Japan, Germany, and Australia fit into which category?