question

According to the Exporter Data Base, small and medium-sized enterprises accounted for ___________ of all U.S. exporters.

answer

nearly 98 percent

question

Regarding the volume of international trade, exports of goods and services ___________ in 2010.

answer

were nearly $19.0 trillion

question

One measure of the magnitude of international trade and how it has grown is that _____________ of everything grown or made in the world is now exported.

answer

25 percent

question

The level of merchandise exports in 2010, worldwide, was:

answer

$15.2 trillion

question

The level of services exports in 2010, worldwide, was:

answer

$3.7 trillion

question

Between 1980 and 2010, the level of merchandise exports from Africa:

answer

increased by 250 percent

question

The proportion of world commercial services exports accounted for by ___________ has evidenced an overall decline since 1980.

answer

(A. the European Union and B. Africa) two of A, B, and C

question

The proportion of world commercial services exports accounted for by ____________ has evidenced an overall decline since 1980.

answer

(B. the Middle East and C. Latin America) two of A, B, and C

question

The rapid expansion of world exports since 1980 demonstrates that:

answer

(A. Businesspeople must be prepared to meet increased competition and C. The opportunity to increase sales by exporting is a viable growth strategy) two of A, B and C

question

In examining the volume of international trade:

answer

the proportion of manufacturing value added generated by South and East Asia has quadrupled since 1980.

question

More than one-half of the exports from developing countries go to __________ countries, and this proportion has been _____________ over the past 35 years.

answer

developed; decreasing

question

More than half of the exports from developing nations go to developed nations, and:

answer

(A. This proportion has been declining over the past 35 years and B. Approximately 70 percent of exports from developed economies also go to other industrialized nations.) two of A, B, and C

question

When considering where to export, advantages to managers of focusing on a nation that is already a sizable purchaser of goods coming from the home country include:

answer

export and import regulations are not insurmountable.

question

When considering where to export, advantages to managers of focusing on a nation that is already a sizable purchaser of goods coming from the home country include:

answer

satisfactory transportation facilities have already been established.

question

The three largest markets for American exports of goods in 2010 were:

answer

Canada, Mexico, and China

question

The three nations that exported the largest amount of goods to the United States in 2010 were:

answer

Canada, Mexico, and China

question

Many of the Asian countries that are major exporters to the United States are also significant importers of American goods because:

answer

(their rising standards of living enable their people to afford more imported products, they are purchasing large amounts of capital goods to further their industrial expansion, and they are importing raw materials and components that will be assembled and subsequently be exported, often to the United States.) all of the above

question

Supporters of mercantilism:

answer

viewed accumulation of precious metals as an activity essential to a nation's welfare.

question

Mercantilists believed that:

answer

a nation should have an export surplus in order to accumulate precious metals.

question

Adam Smith claimed that:

answer

market forces, not government controls, should determine direction, volume, and the composition of international trade.

question

The capability of one nation to produce more of a good with the same amount of input than another country is:

answer

an absolute advantage

question

If Ecuador has an absolute advantage in coffee and Argentina in wheat, then, according to trade theory:

answer

(Ecuador should focus production on coffee and trade for wheat, Ecuador would do well to produce its own coffee rather than import it from Bolivia, and Argentina should focus on producing wheat and trade for coffee.) all of the above

question

A nation having absolute disadvantages in the production of two goods with respect to another nation has ___________ in the production of the good in which its absolute disadvantage is less.

answer

a comparative advantage

question

According to the theory of comparative advantage:

answer

(not a nation should produce those goods which it is more efficient at producing than are other nations, a nation can gain from trade if it is equally inefficient in producing two goods, or a nation must have an absolute advantage in at least one good to gain from trade.) none of A, B, or C

question

Locating activities in another nation is:

answer

offshoring

question

Offshoring is an application of:

answer

comparative advantage

question

According to trade theory:

answer

traders need to know the exchange rate between their own currency and that of the nation they are considering trading with before they can decide whether it is advantageous to import, export, or buy locally.

question

Theory based on ____________________ states that international and interregional differences in production costs occur because of differences in the supply of production factors.

answer

resource endowments

question

The theory of resource endowment:

answer

states that a nation will trade goods that can be produced with the production factor that is most abundant.

question

The theory of overlapping demand:

answer

(not explains how international trade in manufactured goods will be linked to gross national income, states that a nation will trade goods that can be produced with the production factor that is most abundant, or explains why companies will add excess capacity to their production systems.) none of A, B, or C

question

The international product life cycle:

answer

is concerned with the role of innovation in trade patterns.

question

Economies of scale and the experience curve:

answer

explain why many companies will engage in international trade.

question

Which of the following elements are included in Porter's Diamond Model of national advantage?

answer

(Not Competitive conditions, Export conditions, Social conditions, or Supply conditions) None of the above

question

Porter's Diamond Model of national advantage:

answer

claims that the ability of local firms in a country to utilize the country's resources to gain a competitive advantage is based on demand conditions, factor conditions, substitute products, and firm strategy, structure, and rivalry.

question

_______________ occurs primarily because of relative price differentials among nations.

answer

International trade

question

To sum up international trade theory, we can say that the primary reason for trade is:

answer

the existence of price differentials among nations.

question

Which of the following is explained by international trade theory?

answer

(Differences in production costs, Differences in levels of technology, Foreign exchange rates, and Differences in efficiency of factor use.) All of the above

question

Regarding foreign investment:

answer

(Not A: it can be divided into three components: international trade, portfolio investment, and direct investment, B: portfolio investment involves investors who participate in the management of the firm in addition to receiving a return on their money, or C: deals that result in the foreign investor's obtaining at least 10 percent of the shareholdings are classified as portfolio investments.) none of A, B, and C

question

Firms from __________ had the largest total outstanding stock of direct overseas investment at the beginning of 2010.

answer

the United States

question

At the beginning of 2010, the value of the outstanding stock of foreign direct investment of all nations totaled more than:

answer

$19 trillion.

question

Regarding the annual outflows of foreign direct investment:

answer

much of the recent increase has been associated with mergers, acquisitions, and other international investments made by companies in industries facing increased competition and global consolidation.

question

Regarding annual inflows of FDI:

answer

two of A, B, and C

question

Regarding foreign direct investment and trade:

answer

fewer government barriers to trade, increased competition from globalizing firms, and new production and communications technology are causing many international firms to disperse the activities of their production systems to locations close to available resources.

question

Regarding economic and social development:

answer

for the Trade and Development Index, the best regional performance among developing countries was that of the countries of the East Asia and Pacific region.

question

The monopolistic advantage theory suggests that firms in oligopolistic industries are likely to _______________ foreign direct investment when they have technical and other advantages over indigenous firms. (End of Ch. 2)

answer

increase

question

IMF quotas are determined by the relative size of a nation in the global economy and:

answer

(A. determine the weight of the nation's voting in the IMF, B. determine how much a nation can borrow from the IMF, C. are the nation's "dues" to the IMF) all of the above (p. 70, 71)

question

The major function of the World Bank is to serve as a:

answer

nonprofit banking cooperative for its members to meet development needs. (p. 72)

question

The IBRD is a major institution of the World Bank whose function is to loan to:

answer

middle-income and creditworthy poor nations. (International Bank for Reconstruction and Development) (AKA World Bank)(p. 72)

question

The WTO exists to:

answer

establish and help implement rules of trade among nations in order to increase trade flows. (p. 73)

question

Is the WTO's idea of "fair competition" really a code phrase for free trade?

answer

Not really. Trade relationships among nations can be exceedingly complex, and the WTO supports fair competition, which may mean freer trade rather than free trade. (p. 73)

question

The Doha Development Agenda is:

answer

an extended conference of the WTO initially convened in Doha. (p. 73,74)

question

The WTO has made progress on trade-related intellectual property rights (TRIPS). An example of this progress is:

answer

an agreement that property rights should not take precedence over public health. (p. 74)

question

Regional trade agreements such as NAFTA can be seen to impact the WTO:

answer

negatively, because they undercut the nondiscrimination principle of the WTO. (p. 75)

question

In a free trade area, members drop internal tariffs. External tariffs:

answer

are maintained independently by each member. (p. 76)

question

Economic integration often progresses:

answer

in stages, from free trade area to customs union to common market. (p. 76)

question

Most African nations have their main trade relationships:

answer

with developed nations, often built on former colonial ties. (p. 78)

question

ASEAN began as a defensive alliance of 10 Asian nations concerned about:

answer

the spread of communism in their region (p. 79)

question

NAFTA maintains restrictions on the movement of labor, a limitation that suggests it is:

answer

a free trade area (p. 76)

question

The EU began as a common market for:

answer

the coal and steel industries. (p.80)

question

The Treaty of Rome, signed in 1957, established a common market for coal and steel for:

answer

West Germany, Belgium, the Netherlands, France, Luxembourg, and Italy. (p.80)

question

The Council of European Union, the primary policy-setting institution of the EU, is composed of:

answer

the member-states' ministers who represent the specific area being discussed. (p.81,84)

question

The impact of the EU on the WTO could be said to be negative, since:

answer

the favored trade relationships among EU members are not extended to nonmember countries, so the EU undercuts the WTO. (p.75)

question

The EU's impact on international business is:

answer

substantial, since EU standards, especially in the areas of ecology and sustainability, impact any firm that wants to do business in the EU. (p.84, 85)

question

Under new institutional theory, institutions can be categorized as formal and informal, and the informal institutions can be further categorized as:

answer

normative and cognitive. (p.65)

question

In developing economies, informal institutions tend to play a greater role than in developed economies, possibly because

answer

(A. the developing economies have more ambiguity and lack formal institutions by definition, so informal institutions step into the breach and B. informal institutions emerge to give order to the unstructured, chaotic environment.) A and C. (p.66)

question

This type of institution operates through laws and regulations, with coercion as the regulative mechanism.

answer

formal (p.65)

question

The Chinese concept of guanxi is an example of:

answer

an informal, cognitive institution (p.65)

question

The United Nations is probably the best known among:

answer

international organizations. (p.66)

question

All UN member-countries belong to the UN's:

answer

General Assembly (p.68)

question

The UN's International Court of Justice (ICJ) is also known as:

answer

the World Court (p.68)

question

At the end of World War II, the UN called for the conference that set up the World Bank and the IMF. This conference was:

answer

held at Bretton Woods, New Hampshire. (p.70)

question

That the common interest of all nations in a workable international exchange rate system transcends their conflicting international interests is the premise of:

answer

the International Monetary Fund (IMF) (p.70,71)

question

The World Bank's two major institutions are the International Development Association (IDA) and the:

answer

International Bank for Reconstruction and Development (IBRD) (Also known simply as the World Bank) (p.72)

question

The geographical area that receives the most International Development Association (IDA) credits and grants is:

answer

Africa (p.72)

question

IDA's purpose is to loan to:

answer

the poorest nations (p.72)

question

The purpose of the International Financial Corporation (IFC) is to invest in companies and financial institutions in developing countries in order to build:

answer

domestic capital markets (p.72)

question

The WTO is the only international organization designed to establish and help implement:

answer

rules of trade among nations (p.73)

question

The first principle of the WTO's five basic principles is trade without:

answer

discrimination (p.73)

question

The idea that WTO members treat all members equally is known as:

answer

the MFN (most-favored-nation) principle (p.73)

question

The Doha Development Agenda is:

answer

a WTO conference on trade (p.73)

question

The results of liberalized trade so far have been:

answer

uneven for developing and developed economies (p.75)

question

The main difference between a free trade area (FTA) and a customs union is that in a customs union, there is:

answer

a common external tariff (p.76)

question

ASEAN began as a:

answer

security and military alliance among Southeast Asian nations (p.79)

question

The Organization for Economic Cooperation and Development provides information on:

answer

economic and other activities within its member-nations (p.75)

question

The following country is not a member of ASEAN:

answer

China (p.79)

question

"Trade without discrimination" in the WTO means that

answer

all trading partners must be treated the same. (p.73)

question

The UN is important to international business for many reasons, including that it:

answer

develops standards and norms in technical areas (p.67)

question

International institutions are important to international business managers because, in general, they:

answer

limit choices, thereby providing ways to settle disagreements and resolve conflicts. (P. 64)

question

International institutions offer graduating international business majors:

answer

interesting career development and internship opportunities.

question

EU rulings:

answer

affect all businesses within the EU and those that trade within the EU. (p.85)

question

The OECD is called the "rich man's club" because its members:

answer

are 34 of the world's wealthiest nations. (p.75)

question

The main purpose of the OECD is to:

answer

provide economic research and a discussion forum. (p.75)

question

The OECD has encouraged members to:

answer

eliminate bribery in all commercial transactions. (p.76)

question

Two good places to begin country-level research are the websites of the:

answer

BIAC (Business and Industry Advisory Committee) and CIA (p.76)

question

Which country does not belong to the OECD? (End of Ch. 3)

answer

China (p.76)

question

A survey of CEOs of the 162 largest firms on Fortune's list of the 500 largest American corporations found that the CEOs strongly believed that:

answer

(A. an international orientation should be an important part of college business education, B. international business skills and knowledge were important for promotion to senior executive positions but not for appointment to entry-level positions, and C. the importance of international business skills and knowledge for promotion to senior executive positions was higher for companies anticipating an increased level of importance of international activities in the next five years) all of the above (p.6)

question

The increased internationalization of business requires __________ to have a basic knowledge of international business.

answer

all managers (p.6)

question

If you already have a job, you can enhance your opportunities for international experience by:

answer

(A. making your boss and the human resource management department personnel aware of your interest and B. taking additional international business courses and making sure that people in your company know what you are doing) two of A, B, and C !! (p.7)

question

As stated in the text, an international business is:

answer

a business whose activities involve crossing national borders. !! (p.8)

question

Foreign business denotes:

answer

the domestic operations within a foreign country. !! (p.8)

question

A multidomestic company is:

answer

an organization with multicountry affiliates. (p.9)

question

A global company is:

answer

an organization that attempts to standardize operations worldwide. (p.9)

question

Firms that have substantial operations in more than one country are called:

answer

(A. global companies, and B. multidomestic firms) two of A, B, and C (p.9) !!!

question

An international company is:

answer

( A. a global company and B. A multidomestic company) two of A, B, and C. (p.9)

question

International business differs from domestic business in that a firm operating across borders must deal with:

answer

(C. the foreign environment, D. the international environment, and E. the domestic environment.) all of C, D, and E (p.10)

question

Environment as used in the textbook is the forces surrounding and influencing the life and development of the firm and is classified as:

answer

(A. controllable or uncontrollable and C. internal or external) A and C (p.10)

question

Management has no direct control over the external environment of the firm but can exert influence by:

answer

(A. heavy promotion of new products to change cultural attitudes and B. lobbying) two of A, B, and C (p.10)

question

Examples of the kinds of uncontrollable forces listed in the text are:

answer

(A. competitive and B. technological) two of the above (p.10)

question

The forces over which management does have some command are called:

answer

(A. internal and/or B. controllable) two of the above (p.10)

question

The domestic environment is composed of all the uncontrollable forces originating in the __________ that surround and influence the life and development of the firm.

answer

home country (p.11)

question

Foreign environmental forces often operate differently than domestic environmental forces because:

answer

(B. force values are different and C. changes are difficult to assess) two of the above (p.11)

question

International business differs from domestic business in that a firm operating across borders must deal with what environmental forces?

answer

(A. International and B. Foreign) Two of the above (see ch.1 list)

question

Environmental forces can be classified as:

answer

(B. external, C. uncontrollable, and D. internal) all of B, C, and D (p.10)

question

The international environment is the interactions between:

answer

(A. the domestic environmental forces and the foreign environmental forces and C. the foreign environmental forces of two countries when an affiliate in one country does business in another country.) two of the above (p.12) !!!

question

According to the text, personnel working in a foreign subsidiary are working in the international environment:

answer

(B. if they are responsible for the subsidiary's exports and C. if they are also responsible for the management of another foreign subsidiary) two of A, B, and C (p.12)

question

Decision making in the international environment is __________ it is in a purely domestic environment.

answer

more complex than (p.12)

question

Unconscious reference to one's own cultural values when judging behavioral actions of others in a new and different environment is called:

answer

self-reference criterion (p.12)

question

__________ was the world's leading manufacturing country for about 1,800 years, until it was replaced by Britain in about 1840.

answer

none of the above (p.13 China)

question

International business really began:

answer

before the time of Christ (p.12)

question

Due to the expanding importance of foreign-owned firms in local economies, host governments have made their policies toward these companies:

answer

more liberal (p.14)

question

Foreign subsidiaries must obey the local laws. If they don't, according to the text they are subject to:

answer

(A. legal action by the host country and D. cancellation by the parent company of its right to do business in the host country) two of A, C, and D (online document)

question

The worldwide stock of outward FDI is estimated to have increased _______ between 1990 and 2010.

answer

9-fold (p. 14)

question

_______ refers to the transportation of any domestic good or service to a destination outside a country or region.

answer

Exporting (p. 15)

question

The level of service exports worldwide increased more than _______ between 1980 and 2010.

answer

10-fold (p.15)

question

According to the text, the tendency toward an international integration of goods, technology, information, labor, and capital, or the process of making this integration happen, is called:

answer

economic globalization (p.15)

question

According to the text, political drivers of globalization include:

answer

(A. preferential trading agreements and B. reduction of barriers to trade and foreign investment) two of A, B, and C !! (p.15) (Nationalization vs. Privatization)

question

Which of the following are identified in the text as being drivers of globalization?

answer

Technological (p.15)

question

The major globalization drivers include all of the following except:

answer

social (p.15)

question

The major globalization drivers include all of the following except:

answer

cultural (p.15)

question

According to supporters of the globalization of trade and investment, free trade:

answer

creates more and better jobs (p.18)

question

According to opponents of the globalization of trade and investment:

answer

(A. globalization has produced uneven results across nations and people, B. globalization has had harmful effects on labor and labor standards, and C. globalization has contributed to a decline in environmental and health conditions) all of the above (p.18, 19)

question

According to the text, the reasons international firms enter foreign markets are linked to:

answer

(A. the desire to increase profits and sales. and C. the desire to protect profits and sales from being eroded by competitors) two of A, B and C. (p.20)

question

Reasons for international firms to enter into foreign markets are linked to which of the following desires?

answer

Protecting sales and profits from being eroded by competitors (p.20)

question

According to the text, the dimensions along which management can globalize (standardize) their company's international activities include:

answer

(A. markets and B. competitive strategy) two of A, B, and C. (p.24)

question

The international business manager can choose to: (end of ch. 1)

answer

(A. transfer a management practice intact, B. transfer and adjust a management practice, and C. not transfer a management practice at all.) all of A, B, and C. (p.27)

question

Ethics is related to the:

answer

results

question

If a consumer's need is hunger, then their want is:

answer

A specific place to eat (McDonald's)

question

The USSR split into how may countries?

answer

15 countries (17 if counting ones not recognized by UN)

question

The largest of the former USSR republics is:

answer

Russia

question

What is the population of Russia?

answer

150 million

question

How many republics did the USSR have?

answer

15 republics (each are an individual country now)

question

China is famous for what type of products?

answer

Consumer non-durable

question

Croatia is the newest member of what?

answer

The EU

question

The European Union has how many member nations?

answer

28

question

The Eurozone (E.Z.) has how many members?

answer

18

question

The Eurozone is a subgroup of the EU that:

answer

uses the currency of the Euro (€)

question

One Euro (€) equals how many US Dollars ($)?

answer

$1.366

question

One Pound (£) equals how many US Dollars ($)?

answer

$1.62

question

One US Dollar ($) equals how many Japanese Yen (¥)?

answer

¥103

question

The European Union (EU) has one currency. True or False?

answer

False

question

Factors that effect exchange rates include:

answer

Stability of the country, Inflation (Weakens currency), Interest rates (High rates = high dollar value), The Federal Reserve (The Fed) (Printing money)

question

The US Federal Reserve chair is nominated by:

answer

The president (US)

question

The Federal Reserve chair is confirmed by:

answer

Congress

question

These are both important indicators in determining a country's well-being:

answer

Budget (deficit/surplus) and Trade (deficit/surplus)

question

88% of US Expenditures are in these five categories:

answer

1.Social Security, 2.Medicare, 3.Medicaid, 4.Defense, 5.Interest on debt

question

Nothing is imported or exported in this form of economic policy (political barriers to trade):

answer

Protectionism

question

The United Kingdom has what four provinces?

answer

Wales, Scotland, England, Northern Ireland

question

The General Assembly has how many member countries?

answer

202 members

question

In the General Assembly, each member country get how many votes?

answer

1 vote

question

The Security Council has how many members?

answer

15 members (10 elected members which last for 2 years and the 5 permanent members.)

question

The Security Council has these permanent members:

answer

US, Russia, UK, France, China

question

UNESCO stands for:

answer

The United Nations Educational, Scientific, and Cultural Organization

question

UNESCO deals with:

answer

Human rights, comparative religions (and other categories)

question

The Swiss speak these languages:

answer

1. German, 2, French, 3. Italian, 4. Romansch

question

The US Trade deficit is:

answer

1 - 1.4 Trillion dollars

question

The US - China deficit is:

answer

250 -280 billion dollars

question

The US Budget deficit is how much per year?

answer

800 Billion dollars per year

question

49% of electricity produced in the US is made by buring coal. True or False?

answer

True

question

20% of electricity produced in the US is nuclear power. True or False?

answer

True

question

What you need to produce a product:

answer

1. Raw Materials, 2. Labor Costs, 3. Technical Knowledge, 4. Management know-how

question

Solar panels are also known as:

answer

Photovoltaic cells (PVC)

question

Solar panels (Photovoltaics cells) make energy with:

answer

Silica (Sand) and Sun

question

Nikki shoes with a a $80-100 sales price can be made for:

answer

$4

question

The UN has its headquarters in:

answer

New York

question

The UN headquarters was first based in:

answer

San Francisco (1946)

question

10 of the 15 Security Council members are selected by the:

answer

General Assembly (for 2 years)

question

These nations are not recognized by the UN:

answer

1. Taiwan (By China veto), 2. Kosovo (By Russian veto), 3. 2 countries split from Georgia (By US veto), 4. Czech Republic

question

The US cannot compete in terms of labor costs because minimum wage is:

answer

$7.25 per hour

question

The US needs to be technologically powerful and compete in the area of:

answer

New products, medical products, services, and agriculture

question

A weak currency is good for:

answer

Exporting

question

Just-In-Time (JIT) was made famous by the:

answer

Japanese (Toyota)

question

Japan markets its products to developing nations since:

answer

The early 1900s

question

This series of Japanese trading houses control 60% of the Japanese trade network.

answer

Sogo Shosha

question

What are the members of ASEAN?

answer

Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, The Philippines, Singapore, Thailand, and Vietnam (Indonesia is the largest of the group)

question

NAFTA, CAFTA, AND ASEAN are all examples of:

answer

Regional trading blocs

question

L/C stands for:

answer

Letter of credit

question

The main bodies of the UN are:

answer

General Assembly, Security Council, Economic and Social Council, International Court of Justice (World Court) The Secretariat (Day-to-day running of UN)

question

International Court of Justice (World Court) is located in:

answer

The Hague, Holland

question

International Court of Justice (World Court) has how many judges?

answer

15 judges (who serve for 9 years)

question

The Six official languages of the UN are:

answer

English, Arabic, Chinese, French, Russian, Spanish

question

The FDA stands for:

answer

Food and Drug Administration

question

The USDA stands for:

answer

US Department of Agriculture

question

A Bill of Lating by ship is abbreviated:

answer

B/L

question

A Bill of Lating by air is called:

answer

Air Way Bill (AWB)

question

The number attached to every product given to US Customs is:

answer

Harmonized Tariff Schedule (HTS)

question

The length of a Harmonized Tariff Schedule (HTS) is:

answer

2-10 digits

question

When the buyer pays for transportation of the goods, that is called:

answer

Free on Board (FOB)

question

When the seller must pay the costs and freight to bring the goods to the port of destination, that is called:

answer

Cost and Freight (C+F)

question

When the seller must pay the costs, freight, and interest to bring the goods to the port of destination, that is called:

answer

CIF (Cost, Interest, Freight)

question

The World Bank leader is always chosen by:

answer

the US

question

The World Bank HQ is located in:

answer

Washington, DC

question

The World Bank makes (hard) loans to:

answer

Lessor Developed Countries (LDC)

question

The International Monetary Fund (IMF) leader is always chosen by:

answer

The EU

question

The International Monetary Fund (IMF) HQ is located in:

answer

Washington, D.C.

question

Hard loans are:

answer

loans with tough conditions

question

The US contributes what percent of the IMF money (SDR)?

answer

18%

question

IMF money is known as:

answer

Special Drawing Rights (SDR)

question

Special Drawing Rights (SDR) are calculated by adding what 4 exchange rates?

answer

Dollar (US), Euro, Pound, and Yen

question

What organization prints Euros?

answer

European Central Bank (ECB)

question

There are how many countries surrounding the Caspian Sea?

answer

5 countries (Russia, Azer Baijan, Iran, Turkmenistan, and Kazakhstan)

question

Another pipeline goes from Baku to Greece to Italy (through Georgia) this is why Greece is:

answer

Going to remain in the EU no matter what they do. (The EU needs the oil)

question

What are the four variables of Porter's Diamond Model of national advantage?

answer

1. Demand conditions, 2. Factor conditions, 3. related and supporting industries, 4. Firm strategy, structure, and rivalry

question

What are the members of NAFTA?

answer

Canada, US, Mexico

question

What are the members of CAFTA?

answer

the U.S. and five Central American countries (Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica)

question

ASEAN has how many people?

answer

500 million

question

SAARC stands for:

answer

South Asian Association for regional Cooperation

question

SAARC has what 8 countries as members?

answer

India, Bangladesh, Pakistan, Sri Lanka, Nepal, Bhutan, Maldives, Afghanistan

question

BRICS includes what countries?

answer

Brazil, Russia, India, China, South Africa

question

BRICS is essentially:

answer

the IMF, but representing other countries

question

OPEC has 14 members. They are:

answer

Iraq, Kuwait, Iran, Saudi Arabia (Biggest), Venezuela, Libya, United Arab Emirates, Qatar, Indonesia, Algeria, Nigeria, Ecuador, Angola, and Gabon.

question

Saudi Arabia has what percentage of the world's confirmed oil supply?

answer

25%

question

Russia is #1 in what?

answer

Natural gas resurves

question

The BTC pipeline stands for what?

answer

Baku (Capital of Azer Baijan), Tablisi (Capital of former Georgia), and Ceyhan (Capital of Turkey)

question

What pipeline is being constructed to provide oil to the EU?

answer

The BTC pipeline

question

FOB (Free On Board) is a:

answer

Domestic shipping cost

question

CIF (Cost, Interest, Freight) is a:

answer

International shipping cost

question

Russian pipelines are playing a critical role in supplying the EU with how much of its gas supply?

answer

40%

question

Different countries treat what activity differently?

answer

Bribery

question

Needs are the same across nations and cultures. (True or False?)

answer

True

question

There are no limits to the human wants. (True or False?)

answer

True

International Business Ch 1,2,3 – Flashcards

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