Comparative advantage makes a firm unique and puts it ahead of its competitors.

A. True

B. False

If a firm succeeds in gaining a technological edge over its competitors, it is said to possess absolute advantage.

A. True

B. False

The notion that a nations prosperity is created but not inherited is inconsistent with Michael Porters theory of competitive advantage.

A. True

B. False

According to Porter, the most important factors of production are those that involve sustained and heavy investment which are specialized.

A. True

B. False

Custom duty drawback allows exporters to draw back between 40% and 75% of duties paid on materials imported to produce goods for export.

A. True

B. False

All the following have been identified as factors that hinder the competitiveness of Ghanaian firms, except. Sub-standard packaging of products has been identified as a major challenge facing Ghanaian firms competitiveness.

A. Packaging

B. High cost of production

C. Language barrier

D. Political unpredictability

E. False

F. True

According to the stages theory of internationalisation, firms base their market decisions largely on experiential knowledge.

A. False

B. True

Information flow in the network approach is more comprehensive and reliable than that which exists in the stages approach.

A. False

B. True

The consistent interaction between the various actors in a network results in a .......

A. Zero sum game

B. None of the above

C. Over-dependency relationships

D. Win-win situation

The information flow in established networks in the export business is mostly .......

A. reliable and comprehensive

B. All of the above

C. realistic and true

D. speedy and dependable

The survival of export firms depends largely on how and where their products are marketed.

A. True

B. False

Intra-industry trade occurs when a country tends to export one good and imports a wholly different type of good from another country.

A. True

B. False

Cocoa paste is not a traditional export commodity of Ghana.

A. True

B. False

The legislation which brought the Ghana Free Zones Programme into existence is Act 405 of 1995.

A. True

B. False

The trade and economic policy that advocates replacing foreign imports with domestic production is termed in Ghana domestication

A. True

B. False

A firm attains competitive advantage if domestic buyers are among the worlds most sophisticated and demanding buyers of its product.

A. True

B. False

The network approach to internationalization can be most successful through the establishment of

A. Mutually beneficial relationships

B. None of the above

C. Bilateral relationships only

D. unilateral relationship mainly

Which of the following does the stages theory posit?

A. Entering into the international market rapidly

B. Unplanned entry into the international market

C. Entering the international market one step at a time

D. Entering the international market any time an opportunity emerges

Free zones programme exporters are permitted to sell 30% of their products in the local market.

A. True

B. False

Another aspect of the demand factor is that local buyers can help a nations companies gain competitive advantage if their needs are in tandem with global trends.

A. True

B. False

The network and stages theories are both theories of globalization.

A. True

B. False

The absolute advantage theory was propounded by .........

A. Adam Smith

B. Michael Porter

C. David Ricardo

D. John Taylor

A firm can successfully enter the international market even if it does not adhere to established product standards.

A. True

B. False

To change the perception that products manufactured in Ghana are inferior, one of the following must be adopted

A. Sensitization through buy local campaigns

B. Networking

C. Industry targeting

D. Product management

In Ghana the key institution that ensures adherence to standards in the import/export business is ......

A. Ghana Standards Authority

B. Ghana statistical service

C. Ghana export promotion council

D. Customs, Excise and Preventive Service (CEPS)

Products and entering modes are key variables of the internationalization process

A. True

B. False

Competitiveness simply means productivity in a well-defined and coordinated area.

A. True

B. False

Domestic rivalry creates the pressure for a constant upgrading of the sources of competitive advantage

A. True

B. False

There is the tendency of firms to take similarities between neighbouring countries for granted during internationalization.

A. True

B. False

Salt belongs to the marine products category of Ghanas non-traditional exports.

A. True

B. False

The survival of enterprises depends largely on how, when and where their products are marketed.

A. True

B. False

Outward orientation policy targets encouraging domestic industries by limiting competing imports.

A. True

B. False

Ghana exports electric power to Ivory Coast and at the same time imports electric power from Ivory Coast. This is an example of intra-industry trade

A. True

B. False

Trust reduces the anxieties in complex realities far more quickly and economically than speculation, authority or bargaining This statement is attributed to

A. W.W. Peter

B. Christopher Osborne

C. W.W. Powell

D. Woodrow Wilson

The network theory predates the stages theory of internationalisation.

A. True

B. False

International trade is founded on the theory of comparative advantage.

A. True

B. False

The assumption in the network approach is that individual firms are dependent on resources owned or controlled by other actors outside the network.

A. False

B. True

Competitiveness does not connote the ability of a nation to compete internationally in all its industries

A. False

B. True

Comparative advantage makes a firm unique and puts it ahead of its competitors.

A. True

B. False

If a firm succeeds in gaining a technological edge over its competitors, it is said to possess absolute advantage.

A. True

B. False

The notion that a nations prosperity is created but not inherited is inconsistent with Michael Porters theory of competitive advantage.

A. True

B. False

According to Porter, the most important factors of production are those that involve sustained and heavy investment which are specialized.

A. True

B. False

Custom duty drawback allows exporters to draw back between 40% and 75% of duties paid on materials imported to produce goods for export.

A. True

B. False

All the following have been identified as factors that hinder the competitiveness of Ghanaian firms, except. Sub-standard packaging of products has been identified as a major challenge facing Ghanaian firms competitiveness.

A. Packaging

B. High cost of production

C. Language barrier

D. Political unpredictability

E. False

F. True

According to the stages theory of internationalisation, firms base their market decisions largely on experiential knowledge.

A. False

B. True

Information flow in the network approach is more comprehensive and reliable than that which exists in the stages approach.

A. False

B. True

The consistent interaction between the various actors in a network results in a .......

A. Zero sum game

B. None of the above

C. Over-dependency relationships

D. Win-win situation

The information flow in established networks in the export business is mostly .......

A. reliable and comprehensive

B. All of the above

C. realistic and true

D. speedy and dependable

The survival of export firms depends largely on how and where their products are marketed.

A. True

B. False

Intra-industry trade occurs when a country tends to export one good and imports a wholly different type of good from another country.

A. True

B. False

Cocoa paste is not a traditional export commodity of Ghana.

A. True

B. False

The legislation which brought the Ghana Free Zones Programme into existence is Act 405 of 1995.

A. True

B. False

The trade and economic policy that advocates replacing foreign imports with domestic production is termed in Ghana domestication

A. True

B. False

A firm attains competitive advantage if domestic buyers are among the worlds most sophisticated and demanding buyers of its product.

A. True

B. False

The network approach to internationalization can be most successful through the establishment of

A. Mutually beneficial relationships

B. None of the above

C. Bilateral relationships only

D. unilateral relationship mainly

Which of the following does the stages theory posit?

A. Entering into the international market rapidly

B. Unplanned entry into the international market

C. Entering the international market one step at a time

D. Entering the international market any time an opportunity emerges

Free zones programme exporters are permitted to sell 30% of their products in the local market.

A. True

B. False

Another aspect of the demand factor is that local buyers can help a nations companies gain competitive advantage if their needs are in tandem with global trends.

A. True

B. False

The network and stages theories are both theories of globalization.

A. True

B. False

The absolute advantage theory was propounded by .........

A. Adam Smith

B. Michael Porter

C. David Ricardo

D. John Taylor

A firm can successfully enter the international market even if it does not adhere to established product standards.

A. True

B. False

To change the perception that products manufactured in Ghana are inferior, one of the following must be adopted

A. Sensitization through buy local campaigns

B. Networking

C. Industry targeting

D. Product management

In Ghana the key institution that ensures adherence to standards in the import/export business is ......

A. Ghana Standards Authority

B. Ghana statistical service

C. Ghana export promotion council

D. Customs, Excise and Preventive Service (CEPS)

Products and entering modes are key variables of the internationalization process

A. True

B. False

Competitiveness simply means productivity in a well-defined and coordinated area.

A. True

B. False

Products and entering modes are key variables of the internationalization process

A. True

B. False

Competitiveness simply means productivity in a well-defined and coordinated area.

A. True

B. False

Domestic rivalry creates the pressure for a constant upgrading of the sources of competitive advantage

A. True

B. False

There is the tendency of firms to take similarities between neighbouring countries for granted during internationalization.

A. True

B. False

The most important factor that influences the competitiveness of Ghanaian export firms is promotion.

A. True

B. False

Michael Porter identified the following factors as having affected modern trade except

A. Environment and resources

B. Globalization and technology transfers

C. Global warming and technical transfers

D. All of the above

The ability of a nation to excel in a particular industry than other countries is termed as ..........

A. Competitive advantage

B. Absolute advantage

C. Complementary advantage

D. Comparative advantage

The main idea of the network theory is

A.Managers related actors in the export industry

B.Weaving together related actors in the export industry

C.Examining related actors in the export industry

D.Accessing related actors in the export industry

The Ghana governments policy of reducing or abolishing tariffs on some imports is a normal practice to enhance import substitution

A. True

B. False

The application of the network theory is preferred to the stages theory in contemporary times because it regulates entry into the international market.

A. False

B. True

Essentially, export promotion is a communication exercise conveying a specific message about a product to the consumer or end user.

A. True

B. False

The survival of enterprises depends largely on how, when and where their products are marketed.

A. True

B. False

Outward orientation policy targets encouraging domestic industries by limiting competing imports.

A. True

B. False

Ghana exports electric power to Ivory Coast and at the same time imports electric power from Ivory Coast. This is an example of intra-industry trade

A. True

B. False

The only way to overcome the problem of language barrier in export business is through the study of key foreign languages in our educational institutions.

A. True

B. False

The process of successive investment in a firms export engagement in a geographical spreading in the markets is referred to as,

A. Firm behavior

B. Export theory

C. Globalization

D. Internationalization

All the following are determinants of a nations competitiveness on the export market except .........

A. Capacity to innovate and upgrade

B. A countrys democratic credentials

C. Strong domestic rivals

D. Demanding difference in cultural values

The network theory predates the stages theory of internationalisation.

A. True

B. False

A firms competitiveness depends largely on the existence of strong domestic rivals.

A. True

B. False

The capacity of a countrys industries to innovate and upgrade is a key determinant of national competitiveness.

A. True

B. False

In the network theory actors refers only to public entities/institutions which play defined roles in the import/export business.

A. True

B. False

Trust reduces the anxieties in complex realities far more quickly and economically than speculation, authority or bargaining This statement is attributed to

A. W.W. Peter

B. Christopher Osborne

C. W.W. Powell

D. Woodrow Wilson

Essentially,Export promotion is a communication exercise conveying a specific about a product to the consumer or end user.

a.True

b.false