Chapter 1: Intro to International Business
30 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the primary reason why countries cannot produce goods at a low cost?

  • Due to lack of availability of productivity factors
  • Because of high cost of transportation
  • Due to uneven distribution of natural resources (correct)
  • Because of severe competition in the home country

    • What is the primary reason why foreign countries can employ labor from India at cheap rates?

  • Due to lack of availability of raw materials in India
  • Due to unemployment in India (correct)
  • Due to high cost of transportation in India
  • Due to severe competition in the Indian market

    • What is the primary reason why businesses go abroad to enter new markets?

  • To attract new talents
  • To increase market share
  • To spread the risk (correct)
  • Due to saturation of the home market

    • Who is the founder of the Juran Institute?

    <p>Joseph Juran</p> Signup and view all the answers

    What is the primary reason why businesses go abroad to attract new talents?

    <p>Due to lack of availability of quality HR at low cost in the home country</p> Signup and view all the answers

    What is the primary reason why businesses go abroad due to nearness to raw materials?

    <p>To reduce transportation costs</p> Signup and view all the answers

    What was one of the consequences of World War I?

    <p>An economic crisis known as the Great Depression.</p> Signup and view all the answers

    What was a factor that contributed to the Great Depression?

    <p>High tariffs on imported goods.</p> Signup and view all the answers

    What was a characteristic of multinational corporations (MNCs) in the post-World War II period?

    <p>They controlled much of global trade.</p> Signup and view all the answers

    What was a result of the digital revolution of the late 20th and early 21st centuries?

    <p>The transformation of international trade.</p> Signup and view all the answers

    What is a characteristic of global supply chains in the digital era?

    <p>They are interconnected, allowing for efficient production, distribution, and consumption of goods.</p> Signup and view all the answers

    What was a factor that contributed to unemployment rates hitting 25% in some places?

    <p>Lower demand for goods and services.</p> Signup and view all the answers

    What was established in 1995 to facilitate international business?

    <p>The World Trade Organization (WTO)</p> Signup and view all the answers

    Which of the following is a key benefit of international business?

    <p>Permitting the acquisition of a wider variety of products</p> Signup and view all the answers

    What is a characteristic of a multinational corporation (MNC)?

    <p>It operates in multiple countries</p> Signup and view all the answers

    What is a factor contributing to the fast growth of international business?

    <p>Growing consumer pressures</p> Signup and view all the answers

    What is included in the definition of international business?

    <p>The transfer of goods, services, technology, and capital</p> Signup and view all the answers

    Which of the following is a key to successful international performance?

    <p>Effectiveness, Efficiency, and Competitive Strength</p> Signup and view all the answers

    What is the primary focus of international business managers when dealing with cross-national cooperation?

    <p>Developing cross-cultural communication skills</p> Signup and view all the answers

    What type of international business involves the transfer or exchange of intangible goods?

    <p>Exports and imports of services</p> Signup and view all the answers

    What is a management contract in the context of international business?

    <p>An agreement between a firm and a management company to oversee operational functions</p> Signup and view all the answers

    What is the primary skill required for success in international business?

    <p>Cross-cultural communication skills</p> Signup and view all the answers

    What type of international business involves the transfer of tangible goods?

    <p>Export-import trade</p> Signup and view all the answers

    What is the primary objective of international business managers when collaborating with foreign partners?

    <p>To facilitate collaboration and emotional intelligence</p> Signup and view all the answers

    What is the primary objective of a management contract?

    <p>To take over the responsibility of managing certain aspects of another company</p> Signup and view all the answers

    What is a key difference between franchising and licensing?

    <p>Franchising is used in connection with service business, while licensing is used in connection with production and marketing of goods</p> Signup and view all the answers

    What type of investment involves investing directly in the machinery and plant in another country?

    <p>Direct investment</p> Signup and view all the answers

    What is the fee charged by the licensor known as?

    <p>Royalty</p> Signup and view all the answers

    What is a characteristic of franchising compared to licensing?

    <p>Franchising has stricter rules and regulations</p> Signup and view all the answers

    What is the term for investing money in a foreign country in exchange for a profit?

    <p>Foreign investment</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser