* Required 1. Do you want a bouns mark * (1 Point) Yes No 2. The strategy that sets an aggressively low price to attract a maximum number of customers and to discourage competition * (1 Point) penetration simple cost-plus skimming none of the above 3. What is the main motive for countries' protection of their film/cinema industries? * (1 Point) to keep prices low for their citizens to improve their balance of payments to diversify their economies to preserve their national culture 4. Imports can stimulate exports by (1 Point) redistributing the work force curtailing domestic competition generating more tax revenue increasing foreign income 5. The process of a firm having inputs supplied to it for the production process is known as * (1 Point) Sourcing Subcontracting External production Offshoring 6. Imagine you were a policy maker, what decision you would make to support your local production (3 Points) Enter your answer 7. what is the underlying assumption for Comparable Access or Fairness * (3 Points) Enter your answer 8. According to the product life cycle theory of trade, most new products are produced in countries where wage rates are low * (1 Point) True False 9. Why might companies sometimes narrow the product line that they sell in a foreign country as compared to the product line they sell at home? * (1 Point) Government restrictions typically limit how many products a company can sell locally. Selling cost per unit increases substantially when a company offers a broad product line. Not all products have sufficient demand in every market. Firms cannot sell products with product line gaps. 10. When a firm assumes global customers are reasonably similar and it can, therefore, sell abroad the same product it sells at home, they are following which type of orientation: * (1 Point) Enter your answer 11. A tax levied on internationally traded products is known as * (1 Point) Enter your answer 12. The term protectionism, when applied to international trade, refers to governmental restrictions and incentives to affect trade flows * (1 Point) True False 13. Dixon Electronics recently introduced a new computer with features unavailable from other products on the market. Dixon is charging a very high price for the computer and has plans to progressively lower the price over the next year. Dixon is most likely using a strategy * (1 Point) cost-plus skimming penetration diversification 14. What is a supply chain? How does a supply chain differ from materials management and logistics? * (5 Points) Enter your answer 15. How has technology altered supply chain management? Discuss some of the available tools * (4 Points) Enter your answer 16. The theory of absolute advantage holds that there are advantages to trade because different countries can produce different goods more efficiently than others * (1 Point) True False 17. Different country standards, such as safety regulations, add complexity to whether companies decide to use a globally standardized product * (1 Point) True False 18. Discuss some of the cultural considerations that lead to product adaptation (5 Points) Enter your answer 19. Discuss the stages of Product Life Cycle Theory * (4 Points) Enter your answer 20. Promotion using direct selling techniques is * (1 Point) a pull strategy necessary where inflation is high a standardized advertising technique a push strategy 21. The rationale for the infant-industry argument for trade protection is that * (1 Point) incubator centers in which business, government, and academia cooperate will develop entrepreneurial companies a country should give one firm in an industry a monopoly status so that it will grow large enough to be competitive internationally it takes time for an industry to become competitive in world markets, so protection is needed to help this industry pass through the critical period lower restrictions should be placed on products coming from countries where a 22. The infant-industry argument for trade protection holds that an industry needs government protection from imports until it becomes competitive enough in world markets * (1 Point) True False 23. The most common way of identifying market segments is through demographics * (1 Point) True False 24. In the United States it takes 5 units of resources to produce a ton of potatoes and 10 to produce a ton of coal. In Canada it takes 6 units of resources to produce a ton of potatoes and 9 to produce a ton of coal. According to the theory of absolute advantage (1 Point) * the United States should export potatoes to Canada and import coal from Canada the United States should export coal to Canada and import potatoes from Canada the United States should import both potatoes and coal from Canada, while concentrating on production of more valuable goods there would be no basis for trade 25. Defense arguments are sometimes used to prevent exports to unfriendly countries. This runs the risk of the targeted country (1 Point) * becoming politically destabilized removing import restrictions removing import restrictions finding alternative sources of supply 26. If a brand name becomes generic in one country, it becomes generic in other countries as well * (1 Point) True False 27. Countries with large land areas are generally less dependent on trade than countries with small land areas (1 Point) * True False 28. ISO 14000 is about * (1 Point) Enter your answer 29. The system that labels products with an electronic tag that stores and transmits information regarding the product's origin, destination, and quantity is known as: * (1 Point) Enter your answer 30. Export controls are highly effective for digital products, such as computers, TVs, and cameras (1 Point) True False 31. The factor proportions theory holds that countries should improve their competitiveness by importing capital and skilled employees from abroad * (1 Point) True False 32. Factor mobility refers to the movement of which of the following combinations? * (1 Point) 32. Factor mobility refers to the movement of which of the following combinations? * (1 Point) capital, technology and people currency, profits and raw materials labor, capital and management trade, profits and materials 30. Export controls are highly effective for digital products, such as computers, TVs, and cameras (1 Point) True False 31. The factor proportions theory holds that countries should improve their competitiveness by importing capital and skilled employees from abroad * (1 Point) True False