Module 1

Question 1

MSA

More and more firms around the world are going global, including what?

Answer 1

Manufacturing firms
Service companies (i.e. banks, insurance, consulting firms)
Art, film, and music companies

Question 2

International business causes the flow of what across the world?

Answer 2

ideas, services, and capital

Question 3

What does international business offer consumers?

Answer 3

new choices

Question 4

International business permits the acquisition of a wider variety of?

Answer 4

products

Question 5

International business facilitates the mobility of?

Answer 5

labor, capital, and technology

Question 6

It provides challenging employment opportunities.

Answer 6

Internation Business

Question 7

International business reallocates resources, makes preferential choices, and shifts activities to what level?

Answer 7

global level

Question 8

It consists of transactions that are devised and carried out across national borders to satisfy the objectives of individuals, companies, and organizations.

Answer 8

International business

Question 9

ELMFF

What are the types of International Business?

Answer 9

Export-Import Trade
Licensing
Management Contracts
FDI
Franchising

Question 10

2WHSS

List the 5 International Business Questions.

Answer 10

• What product adjustments are necessary to be responsive to local conditions?
• What are the threats from global competitors, and how can these threats be counteracted?
• How will an idea, good, or service fit into the international market?
• Should trade or investment be used to enter a foreign market?
• Should supplies be obtained domestically or abroad?

Question 11

In International Business and the Roman Empire, what ensured that merchants were able to travel safely and rapidly?

Answer 11

Pax Romana or Roman Peace

Question 12

In International Business and the Roman Empire, what simplified business transactions?

Answer 12

common coinage

Question 14

The growth of the Roman Empire occurred mainly through what?

Answer 14

the linkages of business

Question 15

IPDD

The decline of the Roman Empire can be attributed in part to?

Answer 15

• infighting and increasing decadence
• Pax Romana being no longer enforced
• decline of use and acceptance of the common coinage
• declining levels of communication

Question 16

UAE

United States has developed a world leadership position due to what?

Answer 16

• use of market-based transactions in the Western world
• a broad flow of ideas, goods, and services across national borders
• encouragement of international communication and transportation

Question 17

What do you call an American sponsored and enforced peace?

Answer 17

Pax Americana

Question 18

What US law raised import duties to reduce the volume of goods coming into the U.S. ?

Answer 18

Smoot-Hawley Act

Question 19

Why was Smoot-Hawley Act passed?in the hope that it would restore domestic employment

Answer 19

in the hope that it would restore domestic employment

Question 20

What was the result of Smoot-Hawley Act?

Answer 20

worldwide depression and the collapse of the world financial system

Question 21

In the past 30 years, the volume of international trade has expanded from what number to what number?

Answer 21

$200 billion to over $7.5 trillion

Question 22

The sales of foreign affiliates of multinational corporations are how much of that as global exports?

Answer 22

twice as high

Question 23

What was created by the international business that bind countries, institutions, and individuals with trade, financial markets, technology, and living standards?

Answer 23

global links

Question 24

In the recent changes in international business, what happened to total world trade after 2000?

Answer 24

declined dramatically but is again on the rise

Question 25

In the recent changes in international business, the rate of globalization is what?

Answer 25

accelerating

Question 26

In the recent changes in international business, regionalization is taking place, resulting in what?

Answer 26

trading blocs

Question 27

In the recent changes in international business, the participation of countries in world trade is what?

Answer 27

shifting

Question 28

What happened to the manufactured goods and primary commodities between the 1960’s and the 1990’s?

Answer 28

importance of manufactured goods **increased** while the role of primary commodities (i.e. rubber or mining) had **decreased**

Question 29

# IBO In the US, what is important in its macroeconomic level in terms of balancing the trade account?

Answer 29

international business outflows

Question 30

In this level, participation in international business can help firms achieve economies of scale that cannot be achieved in **domestic** markets.

Answer 30

microeconomic level

Question 31

Why are there the availability of international products and services accessed by individuals in many countries, from diverse economic backgrounds?

Answer 31

Because of globalization