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International Business Key Terms Review

International Business Key Terms Review. Work through this review in preparation for the upcoming exam. Question #1. When is dumping of a good into a importers market acceptable?. When a company is selling off seasonal items. When an exporting company wants to put someone else out of business.

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International Business Key Terms Review

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  1. International BusinessKey Terms Review Work through this review in preparation for the upcoming exam

  2. Question #1 When is dumping of a good into a importers market acceptable? When a company is selling off seasonal items When an exporting company wants to put someone else out of business

  3. WRONG Go back to the question

  4. Correct Good Work! Go on to the next question

  5. Question #2 Who is the largest recipient of subsidies? United States Farmers United States car manufactures

  6. Correct Good Work! Go on to the next question

  7. Question #3 An organization that attempts to standardize and integrate operation worldwide in all functional areas is a … Multi-Domestic Company Global Company

  8. Correct Good Work! Go on to the next question

  9. Question #4 When did NAFTA first take effect January 1, 2000 January 1, 1994 July 4, 1994

  10. Correct Good Work! Go on to the next question

  11. Question #5 All forces surrounding and influencing the life and development of a firm are called … Environmental Globally aware

  12. Correct Good Work! Go on to the next question

  13. Question #6 What is the biggest cause of international blunders? Self referencing criterion Foreign Sourcing

  14. Correct Good Work! Go on to the next question

  15. Question #7 Who is the largest oil producing country not to be a member of OPEC? Russia Canada Brazil

  16. Correct Good Work! Go on to the next question

  17. Question #8 Who was the author of the theory of Comparative Advantage? John Kenneth Galbraith David Ricardo Milton Friedman

  18. Correct Good Work! Go on to the next question

  19. Question #9 With direct foreign investing, a company must invest at a __________ level to obtain significant __________ ___________? minimal, investment control sufficient, management control

  20. Correct Good Work! Go on to the next question

  21. Question #10 When a country produces a product that it has a relative advantage in … Absolute Advantage Comparative Advantage

  22. Correct Good Work! Go on to the next question

  23. Question #11 What is an example of a global company? Ford Walmart

  24. Correct Good Work! Go on to the next question

  25. Question #12 OPEC is a group of oil producing countries that work together to set the standard for world oil ________ and ________. quality, supply prices, supply supply, transportation

  26. Correct Good Work! Go on to the next question

  27. Question #13 OPEC Controls _____ % of the world’s oil supply? 45% 35% 40%

  28. Correct Good Work! Go on to the next question

  29. Question #14 The number of units of a currency required to buy the same amounts of goods and services in the domestic market that one dollar would buy in the US is … Income Index Parity Purchasing Power Parity

  30. Correct Good Work! Go on to the next question

  31. Question # 15 Adam Smith is credited with creating the theory of … Absolute Advantage Comparative Advantage

  32. Correct Good Work! Go on to the next question

  33. Question #16 OPEC is made up of 9, Arab only nations? True False

  34. Correct Good Work! Go on to the next question

  35. Question #17 Taxes on imported goods for the purpose of raising their price to reduce competition for local producers or stimulate their local production are called … Quotas Tariffs

  36. Correct Good Work! Go on to the next question

  37. Question #18 The best judge of Purchasing Power Parity is … Big Mac Index Campbell Seavers Index Income Ratio Index

  38. Correct Good Work! Go on to the next question

  39. Question #19 Another name for a tariff as a … Import tax Duty Quota

  40. Correct Good Work! Go on to the next question

  41. Question #20 The price of one currency stated in terms of another currency is called … Exchange Rate Exchange Ratio

  42. Correct Good Work! Go on to the next question

  43. Question #21 All maquiladora factories have to be within 25 miles of the Unites States border? True False

  44. Correct Good Work! Go on to the next question

  45. Question #22 The goal of a company that practices predatory dumping is to … Force domestic producers out of business Work with overseas firms Allow their products to cost more

  46. Correct Good Work! Go on to the next question

  47. Question #23 Which of the following is not an internal environmental factor? Physical Capital People Raw Materials

  48. Correct Good Work! Go on to the next question

  49. Question #24 The theory of Absolute Advantage was created by … Adam Smith David Ricardo Milton Friedman

  50. Correct Good Work! Go on to the next question

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