Chapter 5 – Group 9

1) Recognizing and reaching to international marketing opportunities, using effective global marketing strategies, and being aware of threats from foreign competitors in all markets is known as?

A.  Global Marketing

B.  Global Vision

C.  Globalization

D.  Job Outsourcing

2) What agreement has dramatically lowered trade barriers worldwide?

A.  Mercosur

B.  North American Free Trade Agreement

C.  General Agreement on Tariffs and Trade

D.  Uruguay Round

3) The total market value of all final goods and services produced in a country for a given time period is known as?

A.  Gross domestic price

B.  Globalization

C.  Gross domestic product

D.  Job outsourcing

4) The world trade organization replaced______?

A.  NAFTA

B.  GATT

C.  EU

D.  CAFTA

5) All of the following are reasons why critics say multinational corporations hurt developing countries EXCEPT?

a.)  It is claimed that often the wrong kind of technology is transferred to developing nations. (Usually Capital Intensive)

b.)  Multinational firms take more wealth out of developing nations than they bring in, thus widening the gap between rich and poor nations.

c.)  Multinationals headquarters are always located in a different country so they are never in tune with or know what is best for the local community.

d.)  Multinationals sometimes support reactionary and oppressive regimes if it is in their best interests to do so.

6) Culture underlies all of the following except?

a.)  Friends

b.)  The Education system

c.)  Religion

d.)  The Social class system

7) Which of these does globalization NOT do?

a) Expands economic freedom

b) Spurs competition

c) Lowers the productivity of people

d) Raises the living standards of people

8) ______underlies the family, the educational system, religion, and the social class system.

a) Technology

b) Culture

c) Morals

d) Economics

9) Ford’s building of the Fiesta in Mexico instead of the United States is an example of:

A)  Global Vision

B)  GDP

C)  Global Marketing

D)  Job Outsourcing

10) What is Global Marketing?

A)  Marketing that targets markets worldwide

B)  Recognizing and reacting to international marketing opportunities

C)  Sending US jobs abroad

D)  Marketing to North America

Answers

1) B

2) D

3) A

4) A

5) C

6) A

7) C

8) B

9) D

10) A

Quiz for Group 10 Section 002 11:00

1.  What does GDP measure?

a.  A country’s imports for a given time period.

b.  The total market value of all final goods and services produced in a country for a given time period.

c.  The amount of debt each country is in for a given time period.

d.  The number of people each country have.

2.  What does GDP stand for?

a.  Gross Domestic Population

b.  Gross Determining Product

c.  Gross Domestic Product

d.  Green Dyed Potatoes

3.  What does it mean for a company to be “capitally intensive?”

a.  Labor costs are higher than equipment costs.

b.  The business is growing rapidly.

c.  The business is growing slowly.

d.  Equipment costs are higher than labor costs.

4.  What is the Uruguay Round?

a.  An agreement that has drastically lowered trade barriers worldwide.

b.  The most ambitious global trade agreement ever negotiated.

c.  An agreement that reduced trade barriers by 1/3 worldwide.

d.  All of the Above

5.  What is NAFTA?

a.  An agreement that created the world’s largest free trade zone.

b.  An agreement to lower tariffs between the U.S. and China.

c.  An agreement to increase trade between the U.S. and Europe.

d.  An agreement that created the world’s first free trade zone.

6.  What is the EU?

a.  An economic formula to calculate a country’s GDP.

b.  A large free trade zone that encompasses most of Europe.

c.  A group of European countries that use the same currency.

d.  An agreement between England and Russia to trade freely.

7.  What is the World Bank?

  1. An international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation
  2. An international bank that offers low- interest loans, advice, and information to developing nations
  3. A forum for international economic development that promotes discussion between industrial and emerging- market countries on key issues related to global economic stability
  4. A multi-national bank that developed countries secure loans from.

8.  What is the IMF?

  1. An international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation
  2. An international bank that offers low- interest loans, advice, and information to developing nations
  3. A forum for international economic development that promotes discussion between industrial and emerging- market countries on key issues related to global economic stability
  4. A multi-national bank that developed countries secure loans from.

9.  What is the G-20?

  1. An international organization that acts as a lender of last resort, providing loans to troubled nations, and also works to promote trade through financial cooperation
  2. An international bank that offers low- interest loans, advice, and information to developing nations
  3. A forum for international economic development that promotes discussion between industrial and emerging- market countries on key issues related to global economic stability
  4. A multi-national bank that developed countries secure loans from.

10.  Which of the following is an intermediary(ies) countries use to export products?

  1. Export Buyer
  2. Export Broker
  3. Export Agent
  4. All of the above

1.  B

2.  C

3.  D

4.  D

5.  A

6.  B

7.  B

8.  A

9.  C

10.  D