GEB - GEB 3373 Fall 2010 Midterm Exam 1 Name 1 The example...

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GEB 3373 Fall 2010 Midterm Exam 1 Name: __________________________________________ 1 1. The example of Sears financing local companies in Mexico in order to develop the local infrastructure to supply them relates to which determinant of Porter’s Diamond of Competitive Advantage? a. Factor endowment b. Demand conditions c. Related and supporting industries d. Firm strategy and structure e. Domestic rivalry 2. According to the lecture, Germany and France had a long running dispute over “beer purity laws”, which restricts the importation of beers that contain ingredients other than those approved, and French perfume restrictions, which limit what perfumes can be imported to France. Which type of trade control/barrier does this relate to? a. Licensing agreements b. Administrative delays c. Arbitrary standards d. Service restrictions e. None of the above 3. China has a ________ advantage in the production of Soybeans. a. Competitive b. Absolute c. Comparative d. All of these e. None of these 4. Lion King Land is a country that is not only king of lions, but also king of production. The country can produce all commodities with an absolute advantage. However, even though it is the most efficient producer of everything, it’s going to focus on products that produce more efficient output and will give up less efficient output. Lion King Land is trading under… a. Mercantilism b. Neomercantilism c. Comparative Advantage d. Absolute Advantage e. Fair Trade
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GEB 3373 Fall 2010 Midterm Exam 1 Name: __________________________________________ 2 5. Victoria’s Secret is creating a new line of Katy Perry Pajamas due to observed demands in America. Its next step is to broaden this line to Canada where they too enjoy pajamas and Katy Perry in their culture. The tendency to extend new products to new foreign markets that are closely related to the home culture is called… a. Country Similarity Theory b. Familiarity Theory c. Foreign Similarity Theory d. Relation Theory e. Home Familiarity Theory 6. Carlos, one of Lady GaGa’s “monsters” went to an auction in a foreign country to buy GaGa’s meat dress from the VMA’s. They started the bidding off at $75,000 and the first bidder won the dress. Carlos should have culturally versed himself in Dutch auctions before he flew all the way across the world to bid on the dress. This type of auction where they start
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GEB - GEB 3373 Fall 2010 Midterm Exam 1 Name 1 The example...

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