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Exam 3: Competing in Global Markets

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Question 101

True/False

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Of the strategies available to reach global markets,licensing offers the firm the greatest opportunity for profit potential.

A) True
B) False

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Question 102

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Last year,the nation of Tigerland imported goods totalling $500 million and exported products totalling $386 million.Tigerland experienced a(n) :

A) unfavourable balance of trade.
B) favourable balance of trade.
C) trade surplus.
D) benefit from membership in a free trade zone.

E) B) and C)
F) A) and D)

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Question 103

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Climate and terrain in several South American countries are conducive to growing coffee efficiently.While other countries can grow coffee,they are not as productive or efficient.This fact would lead you to believe that the South American countries have a(n) _________________ advantage in the production of coffee.

McHugh Corporation of Ireland and Enomoto Enterprises based in Japan have undertaken the production of a new electric car with rechargeable batteries that can be driven at high speeds for long distances.They have shared the investment,and each has contributed important technological expertise to the effort.These two firms have entered into a(n) :

Which of the following statements is the mostaccurate observation regarding multinational corporations?

Ethnocentricity can have a negative impact on a firm's ability to trade in global markets.

Which of the following government policies creates an environment of restrictive standards intended to make it difficult for foreign firms to successfully sell their products?

Hewlett-Packard has established a relationship with Hitachi to help each company build a competitive market advantage.This is an example of a joint venture.

Bartering is the exchange of goods or services for other goods or services with no exchange of money involved.

Profitable opportunities in the global markets are diminishing for small and medium sized businesses.

Describe four different strategies for reaching global markets.

According to the theory of mercantilism,a country should develop policies that encourage a favourable balance of trade.

___________ is the use of government regulations to limit the import of goods and services.

Comparative advantage theory states that a country should sell to other countries those products that it produces most efficiently and buy from other countries those products it cannot produce as efficiently.

Magna is an example of a Canadian multinational.

The North American Free Trade Agreement (NAFTA)was driven by the desire of Canada to have access to the U.S.market.

A Conference Board of Canada reports that by 2050,India will be the world's largest economy.

A complete ban on the import or export of a specific good is called an embargo.

________ tariffs are designed to raise money for the government.

A disadvantage of the use of a foreign subsidiary is the loss of control over technology and expertise used in the production of the product.