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Exam 3: Doing Business in Global Markets

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Question 71

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Firms with a physical presence in several different nations are considered multinational corporations.

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Question 72

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When Nestlé,a Swiss company,purchased Ralston Purina,a U.S.company,Ralston Purina became a foreign licensee.

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Question 73

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The U.S.government has announced a 5 million-pound annual limit on beef imported from Argentin A.This type of trade restriction is called an) :

Strategic alliances almost always result in one company taking over the financial interests of another company.

A major goal of the Mercosur common market consisting of several South American countries is to develop a common currency.

One advantage of franchising is that the parent corporation does not need to concern itself with adapting to the culture of another country.

Global trade is the exchange of goods and services between countries.

The company was informed by the Japanese Ministry of Trade that they could only export 1.5 million pairs of eyeglasses to the Japanese market during a given year.The Japanese have imposed an) :

A sociological challenge that must be overcome in order to be successful in the global market is:

After finishing college,Nathan joined his uncle's company in Miami,FL,a company that buys bauxite,copper,and other minerals from the country of Chile,and brings them into the U.S.Everyday,he brokers trades with mines in Chile.His uncle's company is in the export business.

Contract manufacturing is a form of outsourcing.

As a form of franchising,sovereign wealth funds are getting very little attention as a strategy for doing business in foreign markets.

From a sociocultural perspective,U.S.business people are often accused of ethnocentricity.

A "second wave" of offshore outsourcing involves sizable numbers of skilled,well-educated,middle-income workers in service-sector jobs.

Since 1975,the U.S.has had an) ____________.

Free trade is the movement of goods and services between nations without political or economic barriers.

A __________ represents a long-term partnership between two or more companies established to help each firm build competitive market advantages,without sharing the cost of risk.

A joint venture is a partnership in which two or more companies join to undertake a major project.All parties commit financing and risk to the project.

Franchising is popular both domestically and internationally.

The two basic types of tariffs are: