Topics

Question 1

Relative to traditional economic theories of trade and Porter’s Diamond, match each statement with it’s appropriate concept.
England produces wool more efficiently, Portugal produces wine more efficiently

Answer 1

Absolute Advantage

Question 2

Relative to traditional economic theories of trade and Porter’s Diamond, match each statement with it’s appropriate concept.
The wool industry is more diverse and competitive in England than in Portugal

Answer 2

Porter’s Firm strategy, structure and rivalry

Question 3

Relative to traditional economic theories of trade and Porter’s Diamond, match each statement with it’s appropriate concept.
Portugal produces both wool and wine more efficiently, but the advantage is smaller in wool

Answer 3

Comparative Advantage

Question 4

Relative to traditional economic theories of trade and Porter’s Diamond, match each statement with it’s appropriate concept.
English consumers are more knowledgeable about wine and more demanding that Portuguese consumers

Answer 4

Porter’s Demand Conditions

Question 5

Relative to traditional economic theories of trade and Porter’s Diamond, match each statement with it’s appropriate concept.
Portuguese barrel producers (for aging wine) are more skilled than England’s

Answer 5

Porter’s Related and supporting industries

Question 6

From the perspective of a firm seeking competitive advantage in international trade
T/F Country Specific Advantages can refer to either natural or man-made advantages

Answer 6

True

Question 7

From the perspective of a firm seeking competitive advantage in international trade
T/F Firms in the same industry may have successful strategies based on different Firm Specific Advantages

Answer 7

True

Question 8

From the perspective of a firm seeking competitive advantage in international trade
T/F Firm Specific Advantages may be in Primary activities, Supporting activities or Auxiliary activities

Answer 8

False

Question 9

From the perspective of a firm seeking competitive advantage in international trade
T/F Firms should operate in countries where their Firm Specific Advantages work well with the countries’ Country Specific Advantages

Answer 9

True

Question 10

From the perspective of a firm seeking competitive advantage in international trade
T/F Supporting activities are based on infrastructure, Primary activities are based on transforming inputs into finished products/services

Answer 10

True

Question 11

SparkCo is considering entering the German market with its line of hydration energy drinks. Match each of the following statements with its appropriate category in the market assessment process.
In Germany’s moderate climate people lose water when they exercise.

Answer 11

Physical

Question 12

SparkCo is considering entering the German market with its line of hydration energy drinks. Match each of the following statements with its appropriate category in the market assessment process.
By German law, beverage products must reveal their sugar and caffeine content.

Answer 12

Regulatory

Question 13

SparkCo is considering entering the German market with its line of hydration energy drinks. Match each of the following statements with its appropriate category in the market assessment process.
Germany has the highest level of personal income in the EU.

Answer 13

Economic

Question 14

SparkCo is considering entering the German market with its line of hydration energy drinks. Match each of the following statements with its appropriate category in the market assessment process.
The three largest political parities in Germany are committed to open trade inside and outside the EU.

Answer 14

Political

Question 15

SparkCo is considering entering the German market with its line of hydration energy drinks. Match each of the following statements with its appropriate category in the market assessment process.
Germans tend to drink familiar products like Radler and fruit juices after exercise.

Answer 15

Sociocultural

Question 16

Match each of the following sources of information to its appropriate stage in the market assessment process
Descriptive information on cultural/religious/ethnic factors

Answer 16

In depth screening

Question 17

Match each of the following sources of information to its appropriate stage in the market assessment process
A list of the world’s countries

Answer 17

Country Identification

Question 18

Match each of the following sources of information to its appropriate stage in the market assessment process
Trade reports purchased from industry associations

Answer 18

In depth screening

Question 19

Match each of the following sources of information to its appropriate stage in the market assessment process
Statistical information from various sources

Answer 19

Preliminary screening

Question 20

Match each of the following sources of information to its appropriate stage in the market assessment process
Personal interviews with potential intermediaries in the country

Answer 20

Final Selection

Question 21

Match each of the following statements with the approach to cross cultural analysis that it represents.
Japanese executives devote much more time to non-task sounding than to European executives

Answer 21

Cross cultural negotiation styles

Question 22

Match each of the following statements with the approach to cross cultural analysis that it represents.
Latin Americans stand much closer together when conversing than North Americans

Answer 22

Silent language of space

Question 23

Match each of the following statements with the approach to cross cultural analysis that it represents.
Southern Europe is heavily influenced by Roman Catholicism while North Africa is more influenced by Islam

Answer 23

Academic approach to culture studies

Question 24

Match each of the following statements with the approach to cross cultural analysis that it represents.
Europeans attach most meaning to the objective content of language in cross cultural business communication

Answer 24

Low context culture

Question 25

Match each of the following statements with the approach to cross cultural analysis that it represents. Survey responses indicate that Italians are more willing to take risks than Brazilians.

Answer 25

Hofstede's Indices

Question 26

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? Hierarchical organizational structures

Answer 26

Yes

Question 27

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? Decentralized decision making

Answer 27

No

Question 28

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? Concern for organizational benefit rather than individual advancement

Answer 28

Yes

Question 29

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? An emphasis on individual decision making

Answer 29

No

Question 30

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? Centralized decision making

Answer 30

Yes

Question 31

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? High respect for authority

Answer 31

Yes

Question 32

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? Relative low levels of employee layoffs in bad economic times

Answer 32

Yes

Question 33

In the Hofstede Cultural Classification system, Thailand is classified as High Power Distance (vs Low Power Distance) and Collectivist (vs Individualist.) Would the following behavior would be expected in countries so classified? High levels of executive movement among companies as they advance their careers

Answer 33

No

Question 34

Match each statement with its appropriate cross cultural index in the Hofstede system Everyone in a business meeting may speak freely whenever they wish.

Answer 34

Power distance

Question 35

Match each statement with its appropriate cross cultural index in the Hofstede system We'll avoid risk by using our traditional methods.

Answer 35

Uncertainty avoidance

Question 36

Match each statement with its appropriate cross cultural index in the Hofstede system Aggressive, hard charging managers should be rewarded

Answer 36

Masculinity/Femininity

Question 37

Match each statement with its appropriate cross cultural index in the Hofstede system We will make decisions together for the good of the group.

Answer 37

Individualism/Collectivism

Question 38

Match each statement with its appropriate cross cultural index in the Hofstede system Our pl anning horizon is 100 years

Answer 38

Long term orientation

Question 39

Match each of the following variables with the type of international economic data it represents 80% of Spaniards live in urban areas

Answer 39

Geography

Question 40

Match each of the following variables with the type of international economic data it represents 90% of Spain's intercity roads are paved

Answer 40

Infrastructure

Question 41

Match each of the following variables with the type of international economic data it represents Over 35% of Spanish adults over 25 hold a college degree.

Answer 41

Population

Question 42

Match each of the following variables with the type of international economic data it represents The top 20% of Spanish households account for 45% of annual household income.

Answer 42

Income

Question 43

Match each of the following variables with the type of international economic data it represents Over 70% of Spanish households have high speed Internet access.

Answer 43

Infrastructure

Question 44

T/F Latin American countries have market economies while most European countries have command economies.

Answer 44

False

Question 45

T/F The World Trade Organization governs monetary policy of the world's countries

Answer 45

False

Question 46

T/F Most countries have mixed economies, with both command and market elements

Answer 46

True

Question 47

T/F Command economies are more ecologically sustainable than market economies

Answer 47

False

Question 48

T/F The International Monetary Fund helps developing countries finance economic progress

Answer 48

True

Question 49

In the European Union's governance system, laws are proposed by the _____,

Answer 49

European Commission

Question 50

In the European Union's governance system, laws are proposed by the European Commission, sent to the _________ for advice and co-approval

Answer 50

European Parlaiment

Question 51

In the European Union's governance system, laws are proposed by the European Commission, sent to the European Parliament for advice and co-approval, then to the ___________ for final approval

Answer 51

European Council of Ministries

Question 52

In the European Union's governance system, laws are proposed by the European Commission, sent to the European Parliament for advice and co-approval, then to the European Council of Ministries for final approval, Legal disputes over the content of laws are decided by the _______________

Answer 52

European Court of Justice

Question 53

In the European Union's governance system, laws are proposed by the European Commission, sent to the European Parliament for advice and co-approval, then to the European Council of Ministries for final approval, Legal disputes over the content of laws are decided by the European Court of Justice, while the _____________ manages monetary policy for the EU

Answer 53

European Central Bank

Question 54

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption No currency exchanges for Eurozone revenues and payments to suppliers

Answer 54

Yes

Question 55

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption Continuation of the Deutschemark for non-Eurozone transactions

Answer 55

No

Question 56

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption One set of product specifications for the entire EU

Answer 56

Yes

Question 57

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption Common promotion and branding possibilities across EU countries.

Answer 57

Yes

Question 58

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption Elimination of non-EU suppliers

Answer 58

No

Question 59

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption More efficient supply chain and distribution network

Answer 59

Yes

Question 60

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption Elimination of cultural differences among EU countries

Answer 60

No

Question 61

Does the following statement show a way in which the German auto firm BMW has benefited from the EU's Single Market Initiative and Single Currency (Euro) adoption A stronger competitive position in global markets

Answer 61

Yes

Question 62

What year did this happen? | The Maastricht Treaty creates the European Union and sets the goal of a common currency by 1999.

Answer 62

1992

Question 63

What year did this happen? | The Euro transfers from an accounting currency to the core currency of Eurozone countries.

Answer 63

2002

Question 64

What year did this happen? | The League of Nations considers an economic and currency union

Answer 64

1929

Question 65

What year did this happen? | Six countries sign the Treaty of Rome to create the European Economic Community

Answer 65

1958

Question 66

What year did this happen? | The Great Financial Crisis creates hardships in the Eurozone and leads to the potential expulsion of Greece.

Answer 66

2007-2009, 2014-2015