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BBB4M (International Business) Exam Review Questions with Complete Answers
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BBB4M (International Business) Exam Review Questions with Complete Answers
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BBB4M (International Business) ExamReview Questions with Complete
Answers
Export to/import from a business in another country, Invest in a business in another
country
OR
Own a retail or distribution network in another country OR own a manufacturing plant in
another country
Are the ways to be considered an _____ - Answer-International business
Product Diversity
Lower Prices
Access to New Markets
New Process and Technology
Cultural Development
Are the advantages of... - Answer-International trade
Loss of Culture and Identity
Increased Foreign Ownership
Are the disadvantages of... - Answer-International trade
_____ is the theory or practice of shielding a country's domestic industries from foreign
competition by taxing imports - Answer-Protectionism
_____ is the action of bringing goods and services to a country from other countries
abroad for sale - Answer-Importing
_____ is the action of sending goods and services to other countries abroad for sale -
Answer-Exporting
_____ is the process of buying equipment, capital goods, raw materials or services from
around the world - Answer-Global Sourcing
The 7 different trade barriers are... - Answer-Tariffs, Trade Quotas, Trade Embargos,
Trade Sanctions, Foreign Investment Restrictions, Standards and Time Zones
A ____ is an area about 15° longitude wide that extends from pole to pole of which a
uniform clock is used - Answer-Time Zone
_____ are taxes or duties that are charged on imported products or services, these
raise the costs of imported goods so that consumers purchase local products rather
than imports - Answer-Tariffs
, _____ are government imposed limits on the amount of product that can be imported in
a certain period of time, these protect domestic producers by limiting the amount of
product imported and decreasing foreign competition - Answer-Trade Quotas
When a government imposes a _____ it bans trade completely between two countries -
Answer-Trade Embargo
a ____ , is often referred to as a partial embargo and may involve limiting trade if
specific produces or with specific companies or individuals - Answer-Trade Sanctions
_____ exist when a countries has a different standard for the way products are used or
how they perform - Answer-Standards
_____ influences the rules and regulations around foreign investment - Answer-Foreign
Investment Restrictions
The winners of a high Canadian Dollar are... - Answer-Exporters, Tourist (coming to
Canada), and Canadian Retailers
The losers of a high Canadian Dollar are... - Answer-Importers, Canadian Travelers,
and Major Sports Teams
Currency Devaluation and Currency Revaluation are the two types of... - Answer-
Currency Fluctuations
An _____ is the amount of currency in relation to the currency of another country -
Answer-Exchange Rate
A _____ occurs when supply is greater than demand and the value of the Canadian
dollar decreases - Answer-Currency Devaluation
A _____ occurs when Demand is greater than supply and the value of the Canadian
dollar increases - Answer-Currency Revaluation
_____ time is linear. Events are scheduled one at a time with one event following
another - Answer-Monochronic
_____ cultures view time as more flexible, due to the unpredictability of life scheduling
and being precise is not seen as very important - Answer-Polychronic
Prompt beginnings and endings
Scheduled breaks
Deal with one agenda at a time
Rely on specific detailed and explicit communication
Talk in sequence
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