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BUSM Supply Chain Final Exam (Reverse Logistics And Production) – Q’s And A’s
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BUSM Supply Chain Final Exam (Reverse Logistics And Production) – Q’s And A’s
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BUSM Supply Chain Final Exam (Reverse Logistics AndProduction) – Q’s And A’s
Venezuela can grow and sell cut flowers for floral bouquets more easily and
more cheaply than most other countries can produce the same flowers. When
it comes to flowers, Venezuela has a(n):
total advantage
advantageous competency
absolute advantage
core strength
comparative advantage Right Ans - comparative advantage
Refer to the video: Globalization explained
Which products are being produced by Profi-TV and Supercolor?
Art supplies
Televisions
Wall paint
Cylons and Centurions
None of the above Right Ans - Televisions
A natural barrier that faces Argentina when it sells beef to Siberia is:
custom regulations
exchange controls
government controls
distance
taxes Right Ans - distance
Currency markets operate under a system called _____. This means that prices
of currencies vary based upon demand and supply of that currency.
variable trade
variable costs
international trade rate
floating exchange rate
breakeven point Right Ans - floating exchange rate
,When Grand Metropolitan, a British company, purchased U.S.-based Pillsbury
Co. in order to expand its product line and the market for its existing
consumer products, it was an example of a(n):
direct foreign investment
limited partnership
international corporation
international cooperative
cooperative cartel Right Ans - direct foreign investment
In 1914, the United States prohibited the importation of Mexican avocados
even though Mexico is the world's largest producer of the fruit. This
prohibition remained in effect until 1996. The ban on importing Mexican
avocados is an example of a(n):
import quota
embargo
restrictive limit
boycott
tariff Right Ans - embargo
_____ are laws that require a company earning foreign currency from its
exports to sell the foreign currency to a control agency, usually a central bank.
Currency policies
Rates of exchange
Laws of balanced exchange
Favorable exchange regulations
Exchange controls Right Ans - Exchange controls
The karakul is a breed of Central Asian sheep that produces curly, glossy wool.
This wool is popular in some countries for the manufacturing of warm hats
and coats. Since the breed can only be grown in Central Asia, this region can
be said to have a(n):
absolute advantage
advantageous distinction
comparative advantage
total advantage
economy of scale Right Ans - absolute advantage
The _____ is an agreement that dramatically lowered trade barriers worldwide
and created the new World Trade Organization (WTO).
,Uruguay Round
North American Free Trade Agreement
Maastricht Treaty
Mercosur
International Monetary Fund Right Ans - Uruguay Round
An enterprise in which two or more firms or investors (including
governments) share ownership of a business and its property rights is called
a(n):
cooperative
international partnership
joint venture
cartel
limited partnership Right Ans - joint venture
In 1998, the Canadian Magazine Publisher's Association (CMPA) predicted the
demise of many Canadian magazines because the World Trade Organization
(WTO) made it legal for U.S. publishers to introduce product into the Canadian
market, without incurring the start-up costs involved in launching a new
magazine. By using split-run magazines (modifying the U.S. edition so they
contain Canadian ads), U.S. magazine publishers could offer lower rates to
advertiser and sell the magazines for less money than Canadian publishers
could. According to the CMPA, the U.S. magazine publishers would be engaged
in:
export pricing
dumping
unloading
dunking
add-on pricing Right Ans - dumping
Since the balance of payments is the summary of a country's financial
transactions with another country, a discussion of a nation's balance of
payments will need to include a discussion of:
its imports and exports
its long-term overseas business investments
its government loans
its gifts and foreign aid
all of the above Right Ans - all of the above
, A recent regulation enacted by the Commission for Protective Trade Measures
in Russia limits the amount of poultry meat that can be brought into the
country and sold in the country each year to 1.05 billion tons. Russia is using
a(n) _____ to protect its domestic poultry industry.
embargo
boycott
tariff
restrictive limit
import quota Right Ans - import quota
apan bans importation of rice to protect its domestic rice industry. This ban is
an example of:
free trade
ethnocentricity
dumping
countertrading
protectionism Right Ans - protectionism
The original purpose of the _____ was to help build infrastructure in developing
countries and to help relief the debt burden of these countries.
Federal Reserve Bank
Central Bank
World Bank
International Funding Bank
International Monetary Fund Right Ans - World Bank
The Sara Lee Company sells the Hanes brand of hosiery in the United States.
The manufacturer of this hosiery brand in Great Britain sells it under the
brand name of Pretty Polly. The Sara Lee Company is using _____ to broaden its
global marketing base without investing in overseas plants and equipment.
contract manufacturing
joint venture
cooperative agreement
a licensing agreement
limited partnership Right Ans - contract manufacturing
CoolBrands International has entered an agreement with Binney & Smith to
create a line of frozen novelties based on the Crayola brand, including pops,
bars, sandwiches, cups, cones, sundaes and shakes. CoolBrands will pay
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