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1 Chapter 1 Globalization 1) Any commercial transaction that crosses the borders of two or more nations is known as ________. A) domestic marketing B) market segmentation C) international business D) global manufacturing Answer: C 2) Goods and services purchased abroad and brought into a country are called ________. D 3) ________ are all goods and services sold abroad and sent out of a country. B 4) Olive oil prepared in a small Italian oil press factory and sold by large supermarkets in the United States is an example of a ________. C 5) Which of the following terms applies to the sale of a particular brand of jeans manufactured in the U.S. and sold in Canadian stores? A) exporting B) outsourcing C) insourcing D) importing Answer: A 6) A business that has direct investments (in the form of marketing or manufacturing subsidiaries) abroad in several countries is called a ________. C 7) The rise of a new international entity called the ________ suggests that any company,
2 regardless of age, experience, and resources, can engage in international business. C 8) Small companies selling traditional products benefit from ________. D 9) ________ is an effective alternative to traditional distribution channels for firms that sell digitized products. A) Dual licensing B) Electronic distribution C) Visual merchandising D) Digital switchover Answer: B 10) ________ is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. C 11) Globalization is characterized by ________. B