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A treaty is simply a negotiated contract between parties who happen to be nations.

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Which of the following statements is true regarding the UN Convention on the International Sale of Goods (CISG) treaty?


A) It is also known as the Geneva Convention.
B) It is applicable only between merchants doing business.
C) It is not yet adopted by the United States.
D) It applies to household goods purchased for personal use.

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Which of the following organizations replaced GATT as an international organization?


A) World Trade Organization
B) United Nations
C) International Monetary Fund
D) Red Cross

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What are the two types of international organizations?

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International organizations are formed b...

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Discuss the UN Convention on the International Sale of Goods.

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The UN Convention on the International S...

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The _____ round is the current trade-negotiation round of the World Trade Organization (WTO) which commenced in 2001.


A) Tokyo
B) Geneva
C) Uruguay
D) Doha

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D

Discuss the difference between an export trading company (ETC) and export management company (EMC).

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A business may not have been contacted d...

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What is a custom?

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Custom is a principle or practice that h...

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The ambassador of the Office of the U.S. Trade Representative (USTR) serves as a voting member of the Export-Import Bank.

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Which of the following terms best represents a negotiated contract between parties who happen to be nations?


A) Convention
B) Treaty
C) Custom
D) Protocol

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B

An export management company generally is smaller and usually handles only one product or type of product.

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In the context of international business, GATT stands for:


A) Geographical Agreement on Trade and Tariff.
B) Global Agreement on Tariff and Trade.
C) General Agreement on Tariff and Trade.
D) Geographical Association for Transport and Trade.

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The Bureau of Industry and Security (BIS) is located within the _____.


A) Department of State
B) Department of Commerce
C) Department of Treasury
D) Department of Justice

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Which of the following types of legal systems exists in most of the Oceania?


A) Customary law
B) Common law
C) Civil law
D) Muslim law

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Which of the following organizations is an intergovernmental organization?


A) Red Cross
B) Physicians for Social Responsibility
C) Rotary International
D) International Monetary Fund

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The Red Cross is an intergovernmental organization.

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This federal agency is housed within the U.S. Department of Homeland Security. In terms of international business, the office is charged with the responsibility for collecting customs duties, export taxes, fees, and penalties owed for imported merchandise. Identify the federal agency in the discussion.


A) The International Trade Administration
B) The Office of the U.S. Trade Representative
C) The U.S. Customs and Border Protection
D) The Bureau of Industry and Security

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The most-favored-nation rule imposed a duty on member nations to:


A) charge lower tariffs on agricultural products.
B) charge higher tariffs on electronic equipments.
C) charge lower tariffs to less developed countries.
D) charge the same tariff to every country.

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D

Discuss the permanent normal trade relations status.

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GATT attempts to impose nondiscriminator...

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Discuss franchising.

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A license from the owner of a trademark ...

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