chapter 1-13.docx - Most commercial business involves\"business-to-business transactions where firms sell products or services to other firms such as one

Most commercial business involves "business-to-business" transactions, where firms sell products or services to other firms, such as one firm selling raw materials to another firm for use in a new product. These transactions happen throughout the entire value chain. True The U.S.A leads all countries in the world in the total value of goods and services imported each year True Which of the following is NOT an example of international business? A firm receives a building permit from its government to construct a parking facility in the nation's capital Services can be _______. Either imported or exported Services can be _______. (repeated) Imported AND exported Merchandise goods are physical tangible goods that can be seen and traded. Therefore, merchandise goods are sometimes called visible trade. True Services cannot be imported because they are quantifiable False Which of the following terms describe a business transaction in which a firm sells a product to an end user consumer instead of another firm? Business to consumer Which of the following terms describe a business transaction to which a firm sells a product to an end user consumer instead of another firm? (repeated) Business to consumer The Value-Added Chain includes which of the following activities? All of these: i. Upstream sourcing of inputs ii. Downstream distribution of goods and services iii. Midstream production of goods and services The Value-Added Chain includes which of the following activities? (repeated) All of these: i. Upstream sourcing of inputs ii. Downstream distribution of goods and services iii. Midstream production of goods and services Importing occurs when Where a firm sources products or services from another country for sale or use in creating something else A group of nations who get together to integrate their economies in the hopes of amplifying resources, expanding downstream markets and improving each other's economies is called: Regional economic integration pact Supranational organizations are entities whose span of control or influence ranges over how many nations? Multiple nations usually spanning whole regions

International business occurs when any value creation activity or transaction crosses at least one international border True The primary role of the world bank is to provide financing for countries seeking to promote national economic development. True The worldwide movement toward increased political, cultural, technological and especially economic interdependence among economies and national institutions is Globalization Which of the following was created to regulate fixed exchange rates and enforce the rules of the international monetary system? International monetary fund Executives at MTC initially did not want to split MTV into separate national stations but eventually did it because of breakthrough in technology that allowed them to think locally while acting globally False ____ is defined as the dispersal of production activities to locations that help a company achieve its cost-minimization or quality-maximization objectives for a good or service.