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Unit 2 Review MC
Test Description: MC Questions
Instructions: Answer all questions to get your test result.
1) A method of international business with the lowest risk is
A
franchising
B
foreign direct investment
C
a joint venture
D
indirect exporting
2) When a movie company allows its cartoon characters to be used on clothing items produced in other countries, is is an example of
A
licensing
B
management contracting
C
direct exporting
D
a wholly owned subsidiary
3) A joint venture exists when
A
a company obtains the right to use a company name or business process
B
a foreign government buys imported goods or services
C
companies in two countries are taxed as a single organization
D
two or more companies share a business venture
4) A separate foreign company owned by a parent company is called a
A
municipal cooperation
B
wholly owned subsidiary
C
cooperative
D
joint venture
5) Of the following statements, the one that does not describe a multinational company is that
A
a country may become too dependent on it
B
its strength is that if offers a different product in each market
C
none of the these
D
it maintains both an international and local perspective
6) Many people believe that multinational companies need to be regulated and controlled because
A
they make too much money
B
none of these
C
they do not employ citizens of the host countries to a large enough extent
D
they may dominate a country's economy and control the political situation
7) Of the following methods for getting involved in international business he one the the lowest risk is
A
joint venture
B
licensing
C
management contracting
D
foreign direct investment
8) Of the following methods for getting involved in international business, the one with the highest risk is
A
licensing
B
joint venture
C
management contracting
D
foreign direct investment
9) An organization that bonds countries together to allow a free flow of products is called
A
a balance of trade agreement
B
an economic community
C
a monopoly
D
an industry
10) Two reasons why importing is important are because
A
none of these
B
availability of parts for manufacturing and customs duties
C
customers want the product and its cheaper from another country
D
your country has a competitive advantage and home-country products are more expensive
11) A purchase agreement should include all of the following details except
A
the amount of customs duty
B
when will the items be delivered
C
how will payment be made
D
who will pay for shipping
12) Of the following business transactions, the only one that describe an importing activity is
A
a wholesaler in Brazil packs goods for shipment to Liberia
B
none of the these
C
a restaurant food supplier in Japan ships sushi ingredients to a restaurant in Turkey
D
a retailer in Sweden receives goods from Mexico to sell in a chain of stores
13) A company exported appliances to Italy. Italians did not buy the appliances because they would not work with the way Italian electrical current is supplied. The step in the exporting process the exporter did not properly complete is
A
complete the transaction
B
provide products or services
C
agree on sales terms
D
meet the needs of customers
14) Products that do no usually require much modification for foreign customers include
A
laundry detergent
B
clothing
C
none of these
D
skin care products
15) The exchange rate for a stable country
A
is always based on the U.S. dollar
B
remains the same unless there is a political change
C
changes somewhat from day to day
D
none of these
16) Parties that can appear before the International Court of Justice include
A
countries and companies
B
countries, companies, and individuals
C
only countries
D
only companies
17) A person who makes duplicate copies of a video tape of a commercial movie and then sells it would be violating a
A
none of these
B
trademark
C
patent
D
copyright
18) International Treaties and trade agreements may serve all of the following purposes except
A
setting currency exchange rates
B
allowing free flow of goods and services between member countries
C
helping to ensure fair competition practices between member countries
D
helping to provide unity between different cultures and customs
19) Of the following, the one that is not a reason for mediation or arbitration instead of court action to settle a dispute is
A
to save time
B
to avoid the risk of discriminatory treatment in a foreign court
C
to follow legal procedures
D
to avoid bad publicity
20) A mediator does all of the following except
A
makes suggestions and proposals
B
makes a binding decision
C
helps the parties to reach a compromise
D
addressess the substance of the dispute
*select an answer for all questions
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