International Business Chapter 2: Pax Romana and Economic Blocs
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Questions and Answers

What does the term Pax Romana refer to?

  • A period of war and instability under the Roman Empire
  • A type of foreign direct investment
  • A group of nations bound together by common trade agreements
  • A period of peace and stability under the Roman Empire (correct)

    • What is a characteristic of a 'born global' firm?

  • It is established as an international business from its inception (correct)
  • It starts as a domestic business and then expands globally
  • It operates in multiple sectors simultaneously
  • It is a small or medium-sized enterprise

    • What occurs when a country imports more goods and services than it exports?

  • Economies of scale
  • Foreign direct investment
  • Trade deficit (correct)
  • Trade surplus

    • What are the benefits of achieving economies of scale?

    <p>Decreased production costs and higher profits</p> Signup and view all the answers

    What is foreign direct investment (FDI)?

    <p>An investment made by a company or individual in one country in business interests in another country</p> Signup and view all the answers

    What is the term for trade barriers that restrict imports through means other than tariffs?

    <p>Nontariff barrier</p> Signup and view all the answers

    What is the primary purpose of mixed aid credit?

    <p>To facilitate export activities by overcoming barriers</p> Signup and view all the answers

    What is the main benefit of export consortia to foreign buyers?

    <p>A one-stop shopping center for complementary products</p> Signup and view all the answers

    What is the primary goal of protectionist policies?

    <p>To protect domestic industries from foreign competition</p> Signup and view all the answers

    What power does the Trade Promotion Authority (TPA) grant to the U.S. President?

    <p>The power to negotiate and submit international trade agreements to Congress</p> Signup and view all the answers

    What is the primary characteristic of bilateral negotiation?

    <p>Conducted primarily between two nations</p> Signup and view all the answers

    What is the main difference between bilateral and multilateral negotiation?

    <p>The number of parties involved in the negotiation</p> Signup and view all the answers

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