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Exam 3: Doing Business in Global Markets

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Question 111

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One characteristic of an international joint venture is all parties sharing the risk of a major project.

A) True
B) False

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Question 112

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When competing in global markets, business organizations utilize a variety of strategies to reach foreign buyers.

A) True
B) False

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Question 113

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Global trade in services and entertainment has lagged behind the global trade of products.

One objective of NAFTA is:

According to the "Spotlight on Small Business" box in Chapter 3, MFG.com's owner found that when going global, it was as important to focus on as such business related details like accounting, banking, and legal regulations.

China and Russia present enormous trading opportunities. However, due to political risks in those counties, foreign direct investment is halted.

Describe and provide examples of four different strategies for reaching global markets.

Adam's Apple Corporation ships all of the apples from its orchards in Washington to a single buyer in Japan. The firm's entire profits are derived from this international transaction. Adam's Apple Corporation:

The benefits of free trade agreements and common markets are hotly debated by economists. Some think they are good for trade; others believe they are detrimental to developing nations.

tariffs are designed to raise money for the government.

A nation has a in the production of a good or service if it can produce that good or service more effectively or efficiently than it can produce other goods.

Since the approval of the North American Free Trade Agreement (NAFTA), the value of U.S. exports to Mexico and Canada has increased.

A represents a long-term partnership between two or more companies established to help each firm build competitive market advantages, without sharing the cost of risk.

When trading in global markets, most countries prefer to import more than they export.

To understand legal and regulatory conditions and be successful in global markets it's often useful to contact:

Global financial markets operate under a system of , where the supply and demand for various currencies dictate their value at any moment in time.

In global markets, no central system of law exists.

The is a firm that has made sizeable investments and has a physical presence in several foreign countries as a manufacturer and marketer of products and services.

The represents the first attempt to establish a truly global mediation center to resolve international trade disputes.

An article published in the journal of "Modern Healthcare" reported that in 2007, the governments of the following nations held sizeable investments in U.S. companies, (including U.S. healthcare providers) : These investments are called and some experts fear that the strategy behind these governments sinking large amounts of capital in U.S. companies may have .