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BBB4M Exam Questions with Correct Answers
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BBB4M Exam Questions with Correct Answers
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BBB4M Exam Questions with CorrectAnswers
purpose of subsidies - Answer-To prevent job loss
To prevent loss of international trade
To prevent loss of technology advances
To keep the economy going
Exporting Challenges - Answer-Increased Costs
Level of commitment (long haul)
Language and culture differences
Apparently work/laws
Completion
Accessibility (always being there)
Benefits of Exporting - Answer-Increased sales
Higher Profits
Economies of Scale (most of your resources)
Reduce vulnerability
New knowledge
Global/Domestic Competitiveness
About the WTO - Answer-Purpose: Trade Negations, Monitoring, Dispute Settlement,
Building Trade Capacity
Established: 1995
Headquarters: Geneva Switzerland
Members: 164
GATT - Answer-General Agreement on Tariffs and Trade
When must a review take place? - Answer-If the company provides uranium, owns an
interest in uranium property or engages in financial services, transportation or culture
and is worth over 5 million.
countervailing duty - Answer-an import tax imposed on certain goods in order to prevent
dumping or counter export subsidies.
Canada's Exporters: - Answer-Us
China
UK
,Canada's Importers - Answer-US
China
Mexico
Consulate - Answer-There are many per country. Responsible for its own fellow
citizens. Renew passports. Report births, deaths and divorces. Helps it's own citizens in
distress or another emergency situation. Immigration/work permits.
Sanctions - Answer-Something that forces obedience with a law or rule
"Think Globally ACT Locally" - Answer-This approach ensures that companies achieve
economies of scale in the sales and marketing of their brands internationally while at the
same time remaining relevant to the local markets.
Global affairs Canada - Answer-Leads Canada's international development and
humanitarian assistance. It also maintains Canadian five net offices abroad.
DFATD - Answer--Department of Foreign Affairs, trade and Development
-Supports Canadian businesses by giving them information on forging markets
Protectionism - Answer-Countries are accused of this when they apply a tariff that
protects domestic industries
Protocol - Answer-procedure; code of behavior
Tariff - Answer-A customs duty or tax on imports to protect a similar domestic industry
to raise the revenue of a country
Surplus - Answer-When a company is exporting more than they are importing
Trade Show - Answer-Many potential buyers and sellers come together to promote
products and services
trade missions - Answer-a group of business persons that with government assisted
visit a specific county
Anti-Dumping - Answer-A tariff applied to an import in response to a product being sold
below the normal profit margin
Deficit - Answer-When a country is importing more than they are exporting
EDC - Answer--Export Development Canada
-Provides Canadian businesses with potential grants, Insurance, and general
information on how to export.
, Global Presence - Answer-The maintaining by a country, company, or organization of
political and/or corporate interests and influence in many other regions and countries
How are Canadians describes by the rest of the world? - Answer-"Quite and polite"
"Reliable"
"Canadian reputation in the U.S is lower among young adults"
"We only produce raw materials"
"Finest in the world"
People can not ASSOCIATE products with being made in Canada.
What are some factors that allow a country to have a postive global presence? -
Answer-- Give back
- Good morals
- Scandel free
- Postive workers who are scandel free
- Be innovative
What are some factors that attribute to Canada lagging behind in productivty? - Answer-
Competitiveness is linked to the research and development spending of both
governments and private companies
Canada's economy has become increasingly reliant on services rather than producting
goods. While the needs for services will grow the manufacturing/consumption of
tangible goods will continue to be the driving force between most economies
Our currency is weak compared to the US
Knowledge Economy - Answer-The increased reliance on business, labour, and
government on knowledge, information and ideas
Why is 'Knowledge Economy' important? - Answer-"brain or brawn" or "mental over
physical labour". A successful knowledge economy is characterized by close links
between science and technology, greater importance placed on innovation for economic
growth and competitiveness, increased significance of education, and lifelong learning.
Economies of scale - Answer-Economies of scale refer to reduced costs per unit that
arise from increased total output of a product. For example, a larger factory will produce
power hand tools at a lower unit price, and a larger medical system will reduce cost per
medical procedure.
Rationalization - Answer-Rationalization is a reorganization of a company in order to
increase its efficiency. This could be a change in organizational structure, its product
line or the production process.
List three ways a company can rationalize - Answer-Privatization
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