Multiple Choice Questions Ch1 Globalization
31. Which of the following has been reduced as a result of globalization?
A. Volume of goods and services
B. Foreign exchange transactions
C. Environment and labor laws
D. Differences in material culture
Chapter 02 National Differences in Political, Economic, and Legal Systems
30. Which of the following systems is a part of the political economy?
A. Religious system
B. Value system
C. Demographic system
D. Legal system
E. Technological system
31. Which of
Which of the following refers to agreements among countries in a geographic region to reduce and ultimately
remove tariff and nontariff barriers to the free flow of goods, services, and factors of production between each other?
A. Regional economic inte
Production Possibilities - Absolute Advantage
I. 100 Units of resources available.
II. 10 Units to produce a ton of wheat.
III. 4 units to produce a ton of tea.
IV. Uses half of total resources per product
when there is no foreign trade.
100 units of res av
10 units to produce wheat
4 units to produce tea
Uses half of total res per prod
When there is no foreign trade
PRODUCTION w/o trade
A firm can obtain new products in two ways:
Acquisition- by buying a whole company, patent, or license to produce someone elses product
New product development- original products, product improvements, product modifications, and new brands
Product- anything that can be offered to a market for attention, acquisition, use, or consumption that might
satisfy a want/need.
Services- form of product that consists of activities, benefits, or satisfactions offered for sale that are essenti
Compared with Fortune 500 companies, the problem BMC came up with was that they didnt have
sufficient fund to make its IT management competitive.
The revenue rose from 32,000,000 dollars in 1992 to 74,130,000 dollars in 1996.However,
compared with one of
Retailing- all activities involved in selling products or services directly to final consumers
Shopper marketing- focusing on the entire marketing process on turning shoppers into buyers as they
approach the point of sale, whether during in sto