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Department
Management (MGM)
Course
MGMA01H3
Professor
Janelle Leboutillier
Semester
Summer

Description
Question 1 1 out of 1 points The process that involves the study of similarities and differences among consumers in two or more nations or societies is called: Selected Answer: cross-cultural analysis. Correct Answer: cross-cultural analysis. Question 1 out of 1 points 2 The primary function of the General Agreement on Tariffs and Trade (GATT) has been to limit trade barriers and promote world trade through the: Selected Answer: reduction of tariffs. Correct Answer: reduction of tariffs. Question 1 out of 1 points 3 Mattel successfully markets its best-selling Barbie®, Hot Wheels®, and Fisher- Price® brands in more than 150 countries. Today, Mattel markets as much as ______ percent of its product offerings to a global audience, with just ______ percent geared to individual country markets. Selected Answer: 80, 20. Correct Answer: 80, 20. Question 1 out of 1 points 4 A country's communication, transportation, financial, and distribution systems are considered its: Selected Answer: economic infrastructure. Correct Answer: economic infrastructure. Question 1 out of 1 points 5 The tendency to believe it is inappropriate, indeed immoral, to purchase a foreign-made product is called: Selected Answer: consumer ethnocentrism. Correct Answer: consumer ethnocentrism. Question 1 out of 1 points 6 ______ is the phenomenon in which a country's imports affect its exports and its exports affect its imports. Selected Answer: Trade feedback effect Correct Answer: Trade feedback effect Question 7 1 out of 1 points The Japanese manufacture tractors for rice paddies. They are smaller than most Canadian tractors and perfect for a weekend farmer who wants to tend to a small garden. The tractors are not sold in the Canadian through any authorized channels, yet they are available in Canada at prices below the manufacturer's suggested retail price. What is the term for how these tractors are being sold? Selected Answer: on the gray market Correct Answer: on the gray market Question 1 out of 1 points 8 Nine out of every 10 diamonds sold in the world pass through India, making diamonds that country's largest export at $6.6 billion a year. One of the reasons for its success is the nation's 2,500 trading firms, its banks, airlines, customers' offices, and courier services that make sure the diamonds are safely delivered. Most of these are members of the diamond trading bourse in Bombay. According to Michael Porter's theory about national competitive advantage, India's success in the diamond industry is due in part to its: Selected Answer: related and supporting industries. Correct Answer: related and supporting industries. Question 9 1 out of 1 points The difference between the monetary value of a nation's exports and imports is called its: Selected Answer: balance of trade. Correct Answer: balance of trade. Question 10 1 out of 1 points A graphical representation of Michael Porter's elements which create a nation's competitive advantage looks like a: Selected Answer: diamond. Correct Answer: diamond. Question 1 out of 1 points 11 Theodore Levitt wrote a book titled The Marketing Imagination. In the book, Levitt argues that consumers the world over are becoming very similar in their wants and behaviours. Levitt asserts marketers should standardize their marketing strategies and activities in order to benefit from economies of scale. Levitt is encouraging marketers to adopt a(n) _____ marketing strategy. Selected Answer: global Correct Answer: global Question 12 1 out of 1 points Direct eye contact is viewed positively in North and Latin America, but viewed negatively in Japan. This is an example of: Selected Answer: customs. Correct Answer: customs. Question 13 1 out of 1 points A country's economic infrastructure consists of all of the following EXCEPT: Selected Answer: political system. Correct Answer: political system. Question 1 out of 1 points 14 A(n) _____ is the price of one country's currency expressed in terms of another country's currency. Selected Answer: currency exchange rate Correct Answer: currency exchange rate Question 1 out of 1 points 15 When the Malaysian government exchanged 20,000 tons of rice for an equivalent amount of Philippine corn, this was an example of: Selected Answer: a countertrade. Correct Answer: a countertrade. Question 16 1 out of 1 points Thirteen to nineteen year olds in Europe, North and South America and the industrialized nations of Asia: Selected are more similar than different regarding their purchase Answer: behaviour. Correct are more similar than different regarding their purchase Answer: behaviour. Question 17 1 out of 1 points If you were responsible for marketing communications at a company that manufactures office supplies and had to provide product literature to be distributed in France, you would be wise to use ______, whereby you have someone to translate your literature from American English into French, and then have someone else in France translate the French into American English. Selected Answer: back translation Correct Answer: back translation Question 1 out of 1 points 18 The _____ is an international treaty intended to limit trade barriers and promote world trade through the reduction of tariffs. Selected Answer: General Agreement on Tariffs and Trade (GATT) Correct Answer: General Agreement on Tariffs and Trade (GATT) Question 19 1 out of 1 points A joint venture in international marketing is: Selected when a foreign company and a local firm invest together to Answer: create a local business. Correct when a foreign company and a local firm invest together to Answer: create a local business. Question 20 1 out of 1 points McDonnell Douglas sold airplanes in Eastern Europe in exchange for canned hams and tools. This exchange was an example of: Selected Answer: a countertrade. Correct Answer: a countertrade. Question 1 out of 1 points 21 Every country engages in some form of protectionism. However, protectionism has declined internationally over the past 50 years due in large part to the: Selected Answer: General Agreement on Tariffs and Trade (GATT). Correct Answer: General Agreement on Tariffs and Trade (GATT). Question 1 out of 1 points 22 _____ in a country is directly affected by numerous factors including the government's orientation toward foreign companies and trade with other countries. Selected Answer: Political stability Correct Answer: Political stability Question 1 out of 1 points 23 The trade feedback effect is one argument for: Selected Answer: free trade agreements. Correct Answer: free trade agreements. Question 24 1 out of 1 points Companies, which contract with a foreign firm to manufacture products according to stated specifications are using: Selected Answer: contract manufacturing. Correct Answer: contract manufacturing. Question 25 1 out of 1 points Four major trends affecting world trade in the early 21st century are a gradual decline in economic protectionism exercised by individual countries, global competition among global companies for global customers, the emergence of networked global marketspace, and: Selected Answer: formal integration and free trade among nations. Correct Answer: formal integration and free trade among nations. Sumer 2009 Question 1 0 out of 1 points Which of the following is a disadvantage associated with licensing? Selected Answer: creates its own competition Correct Answer: lower wages and prices Feedback: Lower wages and prices are not a disadvantage to licensing arrangements with foreign firms. Licensing decreases profit potential and gives the company no control over its product, which is why a poor choice in licensee can create a poor image for product. Question 2 1 out of 1 points Canada's ______, is valued at almost $1 trillion, which is the monetary value of all goods and services produced in a country during one year. Selected Answer: gross domestic product (GDP) Correct Answer: gross domestic product (GDP) Feedback: Key term definition - gross domestic product Question 3 1 out of 1 points The importation of cheap, short-barreled guns into the United States is prohibited, but the sale of those guns is legal. As a result Beretta, the Italian gun manufacturer and a maker of cheap, short-barreled guns, opened its own manufacturing plant in Maryland. Beretta engaged in: Selected Answer: direct investment. Correct Answer: direct investment. Feedback: Beretta invested in and owns a foreign manufacturing plant. Question 1 out of 1 points 4 KFC in Japan sells tempura crispy strips. In northern England, it stresses gravy and potatoes, while in Thailand it offers fresh rice. In Holland, instead of potatoes, KFC offers customers a potato and onion croquette. In France, KFC sells pastries alongside its chicken. KFC exhibits an understanding of and appreciation for the _____ of other societies. Selected Answer: customs Correct Answer: customs Feedback: KFC serves food that suits the tastes of its target markets in each of the countries listed. Question 1 out of 1 points 5 The Japanese manufacture tractors for rice paddies. They are smaller than most Canadian tractors and perfect for a weekend farmer who wants to tend to a small garden. The tractors are not sold in the Canadian through any authorized channels, yet they are available in Canada at prices below the manufacturer's suggested retail price. What is the term for how these t
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