Global Trade Evolution Quiz

Natural resources export sources are highly volatile and unpredictable.

Transport costs are negligible when compared to the total value of the cargo.

A slowdown in the economy of a major importing nation can lead to a decrease in natural resource trade volume.

Weather conditions have no impact on natural resource trade levels.

Low unit value of a natural resource justifies faster transport speeds to reduce transit times.

A carrier is a type of cargo ship specifically designed for natural resource transport.

Natural resources and their trade are directly linked to economic development levels and factors.

There are numerous, unstable export sources of natural resources.

Trade remained limited and delayed due to lack of regulations and transportation costs.

Bulk point to point trade was not common.

The World Trade Organisation (WTO) was established before the 1970s.

Containerization hindered long-distance trade flows.

The priority of globalization shifted to geographical and functional integration of production, distribution, and consumption before the 1990s.

Apple's product development team is located in China.

Apple follows a two-year product lifecycle.

Apple's iPhone supply chain does not involve real-time coordination.

Zhengzhou, China, also known as 'iPhone City', employed over 200,000 people.

The iPhone assembly process involved around 200 manual steps.

Samsung is involved in the iPhone assembly process.

UPS is not a major carrier involved in the launch of new iPhone models.

Apple does not allow customers to pre-order iPhones prior to launch.

Apple has a global retail network with over 600 stores in 30 countries.

Apple Stores do not offer technical support.

Apple does not have a significant number of stores in the US.

The global logistics performance index (LPI) ranks 160 countries’ logistics performance against seven key dimensions.

The quality of trade and transport-related infrastructure is a key dimension of the LPI.

The timeliness of shipments refers to the ability to track and trace consignments.

A damaged shipment can lead to increased inventory carrying costs.

The LPI ranks countries based on their overall logistics performance and ability to connect to the global market.

The efficiency of the customs clearance process is not a key dimension of the LPI.

Logistics competence refers to the ability to track and trace consignments.

The LPI assesses the ease of arranging competitively priced international shipments.

Manufactured goods involve the transformation of raw materials using only man or machines.

Consumer goods are designed for production rather than final consumption.

General cargo consists of products that are conducive to packaging or unitization.

Break Bulk refers to goods that are not carried in unitized form.

Neo Bulk cargo is a type of cargo where each pre-packaged unit is not accountable.

Containerized cargo is a type of cargo that is not carried in container load units.

Unit load refers to packages that are not loaded on a pallet, in a crate or any other way.

Maritime transport is not commonly used for the transportation of manufactured goods.

Zhengzhou, China, produced around 400,000 iPhones per day.

The iPhone assembly process involves 300 manual steps, including drilling and fitting tiny screws.

UPS is not a major carrier involved in the launch of new Apple products.

Apple Stores have a global network of 450 stores in 30 countries.

Apple did not allow customers to pre-order iPhones prior to the launch for demand forecasting.

Foxconn plants did not receive help from the government for funneling migrant workers through online postings.

Dry bulk ships transport oil from the Middle East and West Africa.

Shanghai alone moved 33 billion units in 2012.

Commercial ships produce less than a million tones of CO2 every day.

Global trade has declined since World War II.

China is not a major center for container shipping.

Commercial ships rely on renewable energy sources for fuel.

Shippers might have unique demands for transportation, facilities, and communication based on the physical and marketing characteristics of the freight.

Logistics competency mainly focuses on tracing the location of freight during transit.

Security in logistics refers to ensuring safety of the freight in-transit to avoid loss and damage costs.

Carrier capability is the first consideration when evaluating the potential use of a transportation mode for movement.

Motor carriers often do not have the advantage of providing direct point-to-point service.

Longer transit times usually result in reduced total transportation costs due to increased efficiency.

Capacity management in the sector offers prospects for sustained profitability despite ongoing financial, technological, and regulatory challenges.

The structural changes in the industry do not impact profitability potential.

The number of ships is a factor that influences Supplier Power in the industry.

The Buyer Bargaining Power is not influenced by buyer concentration or buyer volume.

Access to exclusive inputs is not a consideration for new entrants in the industry.

Labour costs do not affect Supplier Power in the industry.

HKTVmall sold 4.5 million masks in February 2020.

HKTVmall lowered commission fees on masks and medical supplies from 25% to 10%.

HKTVmall explored new suppliers in North America.

Foreign markets contributed significantly to Hong Kong's PPE needs in 2020.

HKTVmall had four decision points to consider.

Developing own supply was not a recommended option for HKTVmall.