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BUAD 331 Final Exam with Verified Solutions
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BUAD 331 Final Exam with Verified Solutions
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BUAD 331 Final Exam with Verified SolutionsWhat is the most common way that countries agree to increase trade?
A. Through unilateral removal of tariffs on imports
B. Through the GATT treaty agreement
C. Through WTO negotiations
D. Through negotiating bilateral or multilateral FTAs Correct Ans-D. Through negotiating
bilateral or multilateral FTAs
When was the World Trade Organization founded?
A. 1785
B. 1895
C. 1905
D. 1995 Correct Ans-D. 1995
The legal system used in the United States is based on:
A. Napoleonic law.
B. common law.
C. civil law.
D. code law. Correct Ans-B. common law.
Supply chain management has a widely accepted definition that does not vary substantially
between countries.
, BUAD 331 Final Exam with Verified Solutions
A. True
B. False Correct Ans-B. False
Which framework is most useful for companies wanting to build an initial assessment of the
general operating environment in a country?
A. EPIC
B. CAGE
C. SWOT
D. FARM Correct Ans-A. EPIC
What type of company will likely work with international supply chains?
A. Large multinational company
B. Regional company
C. Small business
D. All of the above Correct Ans-D. All of the above
Labor laws in the United States are generally seen to be more-friendly to the international
worker than those in most other countries.
A. True
B. False Correct Ans-B. False
, BUAD 331 Final Exam with Verified Solutions
When entering a new international market, the following question(s) should be asked to
understand cultural differences:
A. How are decisions made?
B. How are relationships approached
C. How is success measured?
D. A & B
E. All of the above Correct Ans-E. All of the above
The _______ was created as an international agency to oversee the new exchange rate system
and to help bridge difficulties and financial crises in individual member companies.
A. GATT
B. WTO
C. ITC
D. IMF Correct Ans-D. IMF
Two-thirds of the world's countries including France and Germany use what type of law as the
basis for their legal system?
A. Civil Law
B. Common Law
C. Trade Law
D. International Law Correct Ans-A. Civil Law
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