ANS A company searching for a location where there is an abundance or oil.
7. Which entrant is able to erect significant barriers for other entrants?
ANS First mover
8. Direct exports have which advantage?
ANS Capitalization of economies of scale in production in the home country.
9. What are examples of equity modes of entry? Choose three.
ANS Strategic Al- liances
Greenfields Acquisitions
10. One view of globalization claims that human civilization has always had some type
of globalization. Which view is it?
ANS The long-run historical view
11. The benefit attributed to firms that enter a market before other firms in the same
market segment is best described by which term?
ANS First-moved advantage
12. What is opportunity cost?
ANS The lost potential from pursuing one activity at the expense of another activity, given the
alternatives.
13. What is one of the OLI advantages outlined by John Dunning for why firms become
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