Skill Application Objective 3 Difficulty Hard Course LO Compare and contrast

Skill application objective 3 difficulty hard course

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Skill: Application Objective: 3 Difficulty: Hard Course LO: Compare and contrast theories of international trade 82) A third country, Funland, also produces food and drinks. In Funland, one resource unit produces 8 tons of food and 6 tons of drinks. Which of the following is true about Funland, Foodland, and Drinkland? A) Funland has a comparative advantage in producing drinks. B) Funland has a comparative advantage in producing food. C) Funland has an absolute advantage in producing food. D) Funland has an absolute advantage in producing drinks. Answer: B AACSB: Analytic skills Skill: Application Objective: 3 Difficulty: Hard Course LO: Compare and contrast theories of international trade Scenario: Better Mousetrap Inc. Better Mousetrap Inc. is a manufacturing company that sells pest control products. Recently the company launched an innovative mousetrap with a unique design that has been selling well in the U.S. market. Senior Vice President Marc Wallace, even recommended expanding sales overseas in order to increase company revenues. 83) Wallace's executive team reviews the stages of the international product life cycle to understand better what to expect when the product is sold overseas. Since there is virtually no export market for the product at present, the product is most likely in which of the following stages of the international product life cycle? A) maturing product stage B) new product stage C) product decline stage D) standardized product stage Answer: B AACSB: Analytic skills Skill: Application Objective: 4 Difficulty: Hard Course LO: Compare and contrast theories of international trade 84) Wallace expects that markets abroad will soon become fully aware of the existence of the product and its benefits. Which of the following life cycle stages will the product be a part of during that period? A) maturing product stage
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B) product decline stage C) standardized product stage D) new product stage Answer: A AACSB: Analytic skills Skill: Application Objective: 4 Difficulty: Hard Course LO: Compare and contrast theories of international trade 85) Eventually, Wallace expects that domestic production of the mousetrap will cease altogether. This would happen in the ________ stage of the product life cycle. A) new product B) maturing product C) adapted product D) standardized product Answer: D AACSB: Analytic skills Skill: Application Objective: 4 Difficulty: Hard Course LO: Compare and contrast theories of international trade Scenario: Conquering International Fulfillment Jack Damon, a Boston-based entrepreneur, is determined not to make the same mistakes that hindered his former employer's business expansions. Jack knows that to increase his international sales, he must make some changes in how his orders are filled. 86) Jack has always handled product returns on a case-by-case basis, but he is often unprepared to deal with too many cases of returns. Which of the following would most likely help Jack increase his repeat business?
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