Olive oil made in Italy and sold in the United States is an example of which of the following?

Global brand

U.S. export

U.S. import

Standardized product

Question 2. Question :

Tacky Toys, a U.S.-based toy retailer, buys all its merchandise from Mushi Toys, a Japan-based toy manufacturer with production facilities in 12 nations. Mushi Toys markets its toys globally without modification. Mushi Toys selling its products to Tacky Toys is an example of ________.

importing

bartering

exporting

globalization

Question 3. Question :

Which of the following is most likely not an effect of globalization?

Increases in the variety of capital flows across national borders

Increases in the economic isolation of developing countries

Increases in the rate at which products are diffused worldwide

Increases in the volume of cross-border transactions

Question 4. Question :

Which of the following are products marketed in all countries essentially without any changes?

National products

Adapted products

Global products

Locally responsive products

Question 5. Question :

Two major forces that underlie the expansion of globalization are ________ and ________.

deregulation of tourism; the rise of nationalism

economic interdependence; the decline of international organizations

trade barriers; political unrest

falling barriers to trade and investment; technological innovation

Question 6. Question :

Jimmy’s Jeans creates denim in the United States. The jeans are sold by British retailers who mark up the price by an additional 10% to reflect the cost of taxes associated with importing the denim. The tax is known as a __________.

Import sanction

Tariff

Embargo

Nontariff barrier

Question 7. Question :

The three main goals of the ________ are to help the free flow of trade, help negotiate the further opening of markets, and settle trade disputes between its members.

General Agreement on Tariffs and Trade (GATT)

World Trade Organization (WTO)

World Bank

International Monetary Fund (IMF)

Question 8. Question :

Last year, Sabrina Shin started a business selling all types of spices and hot sauces. The business is small but this entrepreneur’s dreams are big. Given limited demand and sales fluctuations in the domestic market, Sabrina has been considering going international; however, she has little information, many doubts, and no guidance. If you were to advise Sabrina on the myths versus facts of exporting, which of the following would you state is a fact?

Only large companies can export successfully.

Sabrina’s products do not need export licensing.

Small businesses have no place to turn for export advice.

There is no export financing available for Sabrina’s business.

Question 9. Question :

For 75 years, from the start of the First World War to the end of the Cold War, there was a geographic divide between ________, and an ideological divide between ________.

North and South; protectionism and socialism

North and South; regionalism and globalization

East and West; regionalism and globalization

East and West; communism and capitalism

Points Received: 0 of 1

Question 10. Question :

Which of the following terms is used to refer to widespread job turnover throughout an economy?

Redeployment

Churning

Wage differentials

Attrition spectrum

Question 11. Question :

The “global business environment” consists of four distinct elements: globalization, national business environments, the international business environment, and ________.

falling trade and investment barriers

international firm management

technological innovation

multinational corporations

Question 12. Question :

Which of the following terms is used to refer to the positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts?

Customs

Attitudes

Manners

Values

Question 13. Question :

Which of the following statements regarding cultural change is NOT true?

Cultural change occurs as new traits are accepted and absorbed into a culture.

Cultural diffusion occurs quickly in almost every culture.

Globalization is increasing the pace of cultural diffusion.

Technological advances are increasing the pace of cultural diffusion.

Question 14. Question :

Which of the following terms is used to refer to behavior that is shared by a heterogeneous group or by several groups?

Manners

Lingua franca

Popular custom

Folk custom

Question 15. Question :

A ________ is a system of social stratification in which people are born into a social ranking, with no opportunity for social mobility.