IMS 3310 Quiz 1 Questions with Answers (All Answers Correct)
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Module
IMS 3310
Institution
IMS 3310
How evenly has trade grown? - ️️-The proportion of merchandise exports from Asia
has nearly doubled since 1980, with China accounting for nearly two-thirds of the
increase.
-Rapid expansion of international trade has helped transform nations such as
Singapore, Taiwan, and South Korea form p...
IMS 3310 Quiz 1
How evenly has trade grown? - ✔️✔️-The proportion of merchandise exports from Asia
has nearly doubled since 1980, with China accounting for nearly two-thirds of the
increase.
-Rapid expansion of international trade has helped transform nations such as
Singapore, Taiwan, and South Korea form poverty in the 1950s to developed country
standards of living, and 500 million Chinese have been lifted out of poverty by China's
trade-driven policies.
-The European Union increased its proportion of world trade, though the increase is
largely due to the EU's expansion to 28 member countries.
- More than half of the exports from developing nations go to developed nations.
Foreign Environment - ✔️✔️-All the uncontrollable forces originating outside the home
country that surround and influence the firm
-Although forces in the domestic and foreign environment are identical, their values
often differ widely and can even be completely opposed to each other.
-Foreign forces are frequently difficult to assess, especially for legal and political forces.
International Business - ✔️✔️Business that is carried out across national borders
Foreign Business - ✔️✔️The operations of a company outside its home or domestic
market
International Company (IC) - ✔️✔️A company with operations in multiple nations
Domestic Environment - ✔️✔️All uncontrollable forces originating in the home country
that surround and influence the life and development of the firm
International Environment - ✔️✔️Interaction between domestic and foreign
environmental forces, as well as interactions between the foreign environmental forces
of two countries.
Major Trading Partners: Their relevance for managers - ✔️✔️1. The business climate
in these importing nations is already relatively favorable.
2. Export and import regulations are not insurmountable.
3. There should be no strong cultural objections at home to buying that nation's goods.
4. Satisfactory transportation facilities have already been established.
5. Import channel members are experienced in handling import shipments from the
exporter's area.
6. Currency from the foreign country is available to pay for the exports.
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