International Market Selection Quiz

A type of trade bloc allowing free trade among members with common external tariffs.

A form of regional integration allowing free movement of goods, services, labor, and capital among member countries.

A region where member countries eliminate tariffs and trade barriers among themselves.

Uniform tariffs imposed by a customs union on imports from non-member countries.

Legal rights allowing creators to control and benefit from their inventions or brands.

Exclusive rights granted for an invention for a specific period, preventing others from making it without permission.

A unique sign, design, or expression that identifies products or services of a specific source.

Economic policy that restricts trade through tariffs and other barriers to protect local industries.

Process used by companies to choose foreign markets based on various determinants.

A humorous gauge of currency value based on the price of a Big Mac in different countries.

Economic theory estimating the value of currencies based on cost of goods in different countries.

The uncertainty and potential for loss due to changes in a country's political environment.

The estimated capacity a market has for future growth and profitability for a company.

Taxes imposed on imports to protect local companies from competition.

Charges on particular products based on weight or volume in local currency.

A tariff that is a percentage of the good's value.

Tariff imposed on goods from specific countries due to various reasons.

Market entry strategy focusing on concentrated entry into select markets sequentially.

Market entry strategy focused on entering multiple markets simultaneously.

Allows time for building resources, learning, and risk distribution.

High risk and need for more resources; quick entry can lead to failure.

Higher disposable income leads to faster adoption of new products.

Restrictions such as quotas or licenses that limit imports without direct taxation.

The unequal distribution of income among individuals in a population.

A cultural dimension that reflects how comfortable a society is with uncertainty and ambiguity.

Cultures that value traits such as achievement and assertiveness, leading to quicker adoption of power-symbolizing products.

Cultures influenced by Protestant values that often encourage innovation and material consumption.

Consumer electronics that typically experience faster growth than household appliances (white goods).

The slower growth of a product in a market that is already saturated with similar products.

The advantage of entering a market later, often leading to lower prices and increased attractiveness for consumers.

The process of selling and shipping goods to a foreign country, requiring tailored marketing strategies for international customers.