International Trade and Agreements Quiz
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Questions and Answers

Which of the following is a reason why studying International Business (IB) is important?

  • Managers don't need to decide where to find resources and to sell
  • The best way of conducting business is the same in every country
  • Modes of operations are the same globally
  • Most organizations are either international or compete with international companies (correct)

    • What does IB stand for?

  • International Banks
  • International Business (correct)
  • International Borders
  • International Brands

    • Who performs international business mainly?

  • Individual firms (correct)
  • Governments
  • International agencies
  • All of the above

    • What do firms do on an international scale in IB?

    <p>Organize, source, manufacture, market, and conduct other value-adding activities</p> Signup and view all the answers

    Why do firms seek foreign customers in IB?

    <p>To engage in collaborative relationships with foreign business partners</p> Signup and view all the answers

    Which of the following is a major objective of Chapter 2 in the text?

    <p>Explain the importance of culture in International Business (IB)</p> Signup and view all the answers

    What is the main focus of section 2-4 in the text?

    <p>The complexities of cross-cultural communications</p> Signup and view all the answers

    Why is assessing culture in International Business (IB) tricky?

    <p>There are shortcomings in cultural assessments</p> Signup and view all the answers

    What is the role of national cultures in understanding culture in International Business (IB)?

    <p>They provide a workable definition of culture</p> Signup and view all the answers

    Which of the following is NOT a major objective of Chapter 2 in the text?

    <p>Recognize the complexities of national cultural formation and change</p> Signup and view all the answers

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