Midterm

Question 1

What was the largest empire in the world?

Answer 1

Britain

Question 2

Refers to Economically successful regions of Taiwan, South Korea, Singapore, Hong Kong, and Japan

Answer 2

The five dragons

Question 3

It is the most prominent land route for the merchants back then was through the, named by von Richthofen.

Answer 3

Silk road

Question 4

What is one of the oldest jobs in human history?

Answer 4

Trade

Question 5

The process by which countries engage in the buying and selling of goods and services.

Answer 5

International trade

Question 6

When two or more persons join together to carry out a specific business venture and share the profits on an agreed basis

Answer 6

Joint venture

Question 7

What was Dunkin’ Donuts’ original name when it started on Boston?

Answer 7

Open Kettle

Question 8

The Portuguese sailor found a route from Spain to the East.

Answer 8

Vasco Da Gama

Question 9

What major global conflict influenced the formation of the WTO?

Answer 9

World War II

Question 10

Described by the type and number of competitors, locations and activities.

Answer 10

Competitive

Question 11

It is the study of an international system composed of territorial states which acknowledge no superior authority over matters which they consider of vital interest.

Answer 11

International relations

Question 12

It means getting work done in a different country.

Answer 12

Offshoring

Question 13

To belong to the world; not limited to one part of any sphere.

Answer 13

Cosmopolitan

Question 14

It was established to control and manage the goods cycle in the international trade system.

Answer 14

GATT

Question 15

Who were the key leaders involved in post-war planning?

Answer 15

Churchill and Roosevelt

Question 16

An action that is easier than developing new products (in the country)

Answer 16

Developing new markets

Question 17

It is a rule which is not legally binding, but which in practice will normally be adhered to by those who subscribe to them.

Answer 17

Soft law

Question 18

Who coined the term ‘metrosexual’?

Answer 18

Mark Simpson

Question 19

It is where the preference to export but limits the import is not just as far as to earn precious metals, but it’s also for building up the industries and strengthening the economy.

Answer 19

Mercantilism idea

Question 20

It is where your own organization charges a fee and/or royalty for the use of its technology, brand and/or expertise.

Answer 20

Licensing

Question 21

Where did the Preparatory Committee meet in 1946?

Answer 21

London

Question 22

Refers to what we intuitively feel to be “we”.

Answer 22

In-group

Question 23

When did the GATT 1947 enter into provisional force?

Answer 23

1 January 1948

Question 24

Defined as exchange of goods and services between different national markets involving buyers and sellers.

Answer 24

international marketing

Question 25

They are extremely endogamous (marrying within the group) compared with other nationals.

Answer 25

Toronto jews

Question 26

which regulated the trade of Britain with the world.

Answer 26

The navigation acts

Question 27

The French term for "Third World," highlighting its historical context and usage.

Answer 27

Le Tiers Monde

Question 28

It is a wide range of rules that are 'international' and relate to 'trade' or 'economics' having 'legal' or 'regulatory' nature.

Answer 28

international trade rules

Question 29

The exchange of goods, services, and capital across international borders, involving interactions between countries.

Answer 29

International trade

Question 30

It is a new channel for some organizations and the sole channel for a large number of innovative new organizations.

Answer 30

internet

Question 31

A corporation that operates in multiple countries, with a parent company based in one country and subsidiaries in others.

Answer 31

Multinational company

Question 32

Who is the author of 'Wealth of Nations'?

Answer 32

Adam Smith

Question 33

What year was Lucky Chemical Industrial Co. established?

Answer 33

1947

Question 34

What was the first electronics company in Korea?

Answer 34

GeumSung or LG Electronics

Question 35

Are the dominant source of international trade and business law.

Answer 35

treaties

Question 36

When was the WTO officially established?

Answer 36

1 January 1995

Question 37

Are individuals or organizations that are contracted to your business, and market on your behalf in a particular country.

Answer 37

agents

Question 38

What was the aim of the Proposals for Expansion of World Trade and Employment?

Answer 38

Code of conduct

Question 39

It is an ancient land, and one of its oldest civilizations, India had a long history of a struggling economy ever since the end of the British rule 70 years ago.

Answer 39

Asia

Question 40

What was the main goal of the International Conference on Trade and Employment?

Answer 40

ITO Charter

Question 41

It is a foreign policy doctrine which holds that jurisdiction in international investment disputes lies with the country in which the investment is located.

Answer 41

Calvo doctrine

Question 42

It is made to the New York GATT 1947 draft at the Geneva meeting

Answer 42

Substantive changes

Question 43

Refers to contracting work out to an external organization.

Answer 43

Outsourcing

Question 44

What area do most Americans live in?

Answer 44

Metropolitan

Question 45

It is commonly referred to as the referendum decision by the people of the UK to withdraw its membership from the European Union (EU). In mid-2016, at least 50% of the UK participating electorate voted to leave the EU

Answer 45

Brexit

Question 46

What languages do Toronto Jews often encourage their children to learn?

Answer 46

Yiddish or Hebrew

Question 47

What region has one-third of the American population?

Answer 47

South

Question 48

term that describes a whole series of different relationships between companies that market internationally, and sometimes the relationships are between competitors.

Answer 48

strategic alliances

Question 49

Who distinguished between high and low context cultures?

Answer 49

Edward Hall

Question 50

Who sailed across the Atlantic Ocean in 1492?

Answer 50

Christopher Columbus