MULTIPLE CHOICE QUESTIONS

Multiple Choice Questions 26 According to the text, all of the following events have impacted international business EXCEPT: A) the Indian Ocean tsunami in 2004 B) the high-tech bust of 2001 C) the steroids in major league sports scandal D) 2003 SARS outbreak in Asia E) 9/11 Answer: C Page: Difficulty: Easy Type: Comprehension 27 Of all the events and trends affecting global business today, four stand out as the most dynamic Which of the following would be one of those events? A) The trend toward buying American cars in Europe B) The trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe C) The trend toward using English as the global language D) The trend toward establishing a world currency E) None of the above is among the trends mentioned in the chapter Answer: B Page: Difficulty: Moderate Type: Comprehension 28 All of the following events and trends are among the four major trends described in the chapter as having a major impact or effect on global business EXCEPT: A) the trend toward the acceptance of the free market system among developing countries in Latin America, Asia, and Eastern Europe B) the rapid growth of the World Trade Organization and regional free trade areas such as NAFTA and the European Union C) the burgeoning impact of the Internet and other global media on the dissolution of national borders D) the trend toward decreasing oil company profits in the 21st century E) the mandate to properly manage the resources and global environment for the generations to come Answer: D Page: Difficulty: Hard Type: Comprehension 29 Every American company is international, at least to the extent that: A) Federal law requires all corporations to outsource whenever it is cost-effective B) the Internet generates orders for all American businesses from abroad C) its business performance is affected by events that occur abroad D) natural disasters create a greater global community E) all of the above Answer: C Page: Difficulty: Hard Type: Fact 30 Simi Khan wants to move his business into the international arena as quickly as possible; however, to be successful he must consider a variety of factors that have global dimensions Which of the following factors would be most important to Simi Khan's computer technology business as he moves forward with his global expansion plans? A) Electricity usage around the world B) The drive toward a more ergonomic workplace C) Communication and technology networks in third-world countries D) Restrictions on advertising in Russia E) Increasing licensing fees in Spain and Portugal Answer: C Page: Difficulty: Moderate Type: Application 31 Foreign investment in the United States is growing yearly At present, foreign investment in the United States is in excess of $2.6 A) trillion B) million C) billion D) thousand E) cannot be determined The government does not track foreign investment Answer: A Page: Difficulty: Moderate Type: Fact 32 Companies from lead in foreign investment in the United States: A) Kingdom of Saudi Arabia B) Russia C) China D) United Kingdom E) Canada Answer: D Page: Difficulty: Hard Type: Fact 33 Foreign investment is a two-way street An organization (through investment and acquisition) from which of the following countries now controls all United Kingdom rail freight business and runs the queen's private train via its English, Welsh, & Scottish Railway unit? A) Germany B) Switzerland C) United States D) Canada E) Netherlands Answer: C Page: Difficulty: Hard Type: Fact 34 Many U.S firms exceedingly well in the global arena Which of the following organizations is considered to be the U.S leader with global revenues approximated at $285 billion annually? A) IBM B) ExxonMobil C) Ford Motor D) Wal-Mart Stores E) Hewlett-Packard Answer: D Page: 9, Exhibit 1.2 Difficulty: Moderate Type: Fact 35 For firms venturing into international marketing for the first time, the first requirement is: A) visas for all executives involved in the venture B) a thorough and complete commitment to foreign markets C) a visit to the consulate of the country being targeted D) an assessment of the cost of doing business in the foreign market E) performance reviews of all potential salespeople being considered for foreign assignment Answer: B Page: Difficulty: Moderate Type: Fact 36 _ is the performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit A) Global management B) Global business C) Marketing D) International marketing E) Global marketing concept Answer: D Page: Difficulty: Moderate Type: Definition 37 The performance of business activities designed to plan, price, promote, and direct the flow of a company's goods and services to consumers or users in more than one nation for a profit is called: A) global management B) global business C) marketing D) the global marketing concept E) international marketing Answer: E Page: Difficulty: Moderate Type: Definition 38 The only difference between the definitions of domestic marketing and international marketing is that marketing activities: A) focus on consumers in domestic markets and barterers in foreign markets B) take place in more than one country C) follow traditional communication paths in domestic markets D) focus on distribution in the domestic market E) are usually non-regulated in foreign markets Answer: B Page: Difficulty: Moderate Type: Comprehension 39 According to the text, the primary difference in the practice of marketing at the domestic versus the international level is: A) the environment within which the marketing plans must be implemented B) the revenues necessary to be successful C) the demand charts available to the marketer D) the control over the budget E) the accountability of board of directors Answer: A Page: 10 Difficulty: Hard Type: Comprehension 40 With respect to the environment in which a business operates, such factors as competition, legal restrains, government controls, and the weather would all be examples of what are called: A) controllable elements B) uncontrollable elements C) predictable elements D) demographic elements E) cultural elements Answer: B Page: Difficulty: Easy Type: Definition 41 All of the following would be considered to be controllable elements of marketing decisions EXCEPT: A) product B) price C) promotion D) research E) all of the above are considered to be controllable elements of marketing Answer: E Page: Difficulty: Easy Type: Definition 42 Considering the model of the international marketing task displayed in the text, which of the following reasons demonstrates the most important difference between the international marketer's task and that of the domestic marketer? A) The international marketer must deal with at least two levels of uncontrollable uncertainty instead of one B) The international marketer must rely on at least two levels of controllable certainty instead of one C) The international marketer is never certain about demand D) The international marketer is never certain about supply E) All of the above are valid differences between the international and domestic marketing task Answer: A Page: 10, Exhibit 1.3 Difficulty: Moderate Type: Comprehension 43 Robert Jonas is in charge of a new marketing effort directed toward Peru In order for his company to effectively market and distribute to all of Peru's major cities, Mr Jonas must devise a logistics plan for crossing the Andes Mountains on a daily basis Which of the following foreign environment uncontrollable variables would be a chief concern as Mr Jonas devises his plan? A) Competitive forces B) Cultural forces C) Geography and infrastructure D) Economic forces E) Political/legal forces Answer: C Page: 10, Exhibit 1.3 Difficulty: Moderate Type: Application 44 Compared to the foreign environment uncontrollable variables, which of the following elements is excluded from the domestic marketer's list of uncontrollable variables? A) Political/legal forces B) Competitive structure C) Economic climate D) Level of technology E) All of the above are considerations for the domestic marketer in the uncontrollable environment Answer: D Page: 10, Exhibit 1.3 Difficulty: Hard Type: Comprehension 45 All of the following would be among the domestic marketer's controllable environmental variables EXCEPT: A) research B) price C) product D) channels of distribution E) level of demand Answer: E Page: 10, Exhibit 1.3 Difficulty: Moderate Type: Comprehension 46 All of the following appear as a foreign environment uncontrollable variable in the model of the international marketing task shown in the text EXCEPT: A) economic forces B) competitive forces C) product forces D) cultural forces E) political/legal forces Answer: C Page: 10, Exhibit 1.3 Difficulty: Easy Type: Fact 47 Amy Sims has been assigned the task of preparing a marketing plan for company for the next year's business activities She knows that she should begin her plan by examining the variables that she has some control over These controllable variables would include price, product, channels-of-distribution, and: A) demand B) supply C) competition D) economic climate E) promotion Answer: E Page: 11 Difficulty: Easy Type: Fact 48 A political decision involving _ would most likely have a direct effect on a firm's international marketing success A) domestic foreign policy B) retirement age C) the makeup of a board of directors D) farm subsidies E) airline regulation Answer: A Page: 11 Difficulty: Moderate Type: Fact 49 Which of the following would be a chief way that U.S companies attempt to influence domestic foreign policy? A) A company could lobby with respect to its own interests B) A company could attempt to bribe elected officials to influence policy decisions C) A company could ask a foreign government to bring pressure on U.S legislative bodies D) A company could threaten to withdraw operations from foreign markets E) A company could threaten to move its corporate headquarters to a foreign market Answer: A Page: 11 Difficulty: Hard Type: Comprehension 50 Competition within the home country can have a profound effect on the international marketer's task Which of the following BEST illustrates this statement? A) Boeing recently opened talks with its primary trade union to avoid a forecasted strike B) Microsoft and Dell have joined a consortium to investigate the technology of the future C) Fuji opened a $300 million plant in the U.S and now commands a 12 percent share of the lucrative U.S film market D) Several name companies are still under investigation because of the Enron scandal E) All of the above are good illustrations of the statement Answer: C Page: 11 Difficulty: Moderate Type: Application 51 With respect to challenges faced by the international marketer, a significant source of uncertainty is the number of factors in the: A) foreign environment controllables B) foreign environment uncontrollables C) domestic environment controllables D) parallel environment uncontrollables E) parallel environment controllables Answer: B Page: 12 Difficulty: Easy Type: Comprehension 52 Ralph Waite has just been assigned the task of reviewing his company's international investment opportunities He knows that his view of the list of opportunities should be tempered by foreign environment uncontrollables that might be encountered Which of the following would be the BEST illustration of a foreign environmental uncontrollable that Mr Waite should investigate? A) A country's level of technology B) Pricing policies in the foreign country C) The ability to research in the foreign country D) Manufacturing capabilities in the foreign country E) The ability to advertising in the foreign country Answer: A Page: 12 Difficulty: Hard Type: Application and Comprehension 53 The _ is an uncontrollable element that can often be misread because of the vast differences that may exist between developed and undeveloped countries A) structure of distribution B) competitive forces C) economic forces D) political/legal forces E) level of technology Answer: E Page: 12 Difficulty: Hard Type: Fact 54 The _ and issues abroad are often amplified by the “alien status” of the company, which increases the difficulty of properly assessing and forecasting the dynamic international business climate A) structure of distribution B) competitive forces C) economic forces D) political/legal forces E) level of technology Answer: D Page: 13 Difficulty: Moderate Type: Fact 55 Which of the following would be the BEST illustration of the “alien status” found in the political and legal arena that sometimes cause problems for international marketers as they attempt to business in foreign countries? A) A company in the U.K recently purchased Ben & Jerry's ice cream operations B) The Indian government told Coca-Cola that it must reveal its “secret formula” if it wished to continue business in India C) Richard Branson's Virgin Cola was not widely accepted in the United States D) French Canadians prefer French to English when conducting business in Canada E) None of the above is a good illustration of the political/legal forces issue Answer: B Page: 13 Difficulty: Moderate Type: Application 56 Global businesses must be willing to adjust and adapt a marketing program to a foreign market In a broad sense, the environmental uncontrollable elements constitute the: A) problem B) opportunity C) culture D) marketplace E) commerce landscape Answer: C Page: 14 Difficulty: Hard Type: Comprehension 57 The task of is the most challenging and important one confronting international marketers A) care for the environment B) dealing with politics C) international standardization D) cultural adjustment E) international branding Answer: D Page: 14 Difficulty: Moderate Type: Comprehension 58 Which of the following would be the BEST example to illustrate the fact that international marketers need to make cultural adjustments as they seek to business abroad? A) In America, white is an accepted color for wedding gowns; in Asia it is the color of mourning B) Many teens earn extra income by working C) Women out number men in the United States D) Most Middle Eastern women not work outside the home E) Many European nations require a period of national service for youth Answer: A Page: 14 Difficulty: Hard Type: Application 59 is the conscious effort on the part of the international marketer to anticipate the influences of both the foreign and domestic uncontrollable factors on a marketing mix and then adjust the marketing mix to minimize the effects A) Standardization B) Adaptation C) Segregation D) Segmentation E) None of the above matches the statement Answer: B Page: 15 Difficulty: Moderate Type: Definition 60 The primary obstacles to success in international marketing are a person's _ and an associated ethnocentrism A) regionalism B) holism C) self-reference criterion D) segregation E) integration Answer: C Page: 15 Difficulty: Easy Type: Comprehension 72 The method for estimating demand assumes that demand for a product develops in much the same way in all countries as comparable economic development occurs in each country A) polling B) analogy C) morphing D) modeling E) triangulation Answer: B Page: 232 Difficulty: Moderate Type: Comprehension 73 To deal with problems in analyzing and interpreting research information in the international marketplace, the marketing researcher must possess all of the following traits EXCEPT: A) have a high degree of cultural understanding B) have the ability to manage money C) have a creative talent for adapting research methods D) have a skeptical attitude in handling both primary and secondary data E) all of the above are traits of the international marketing researcher Answer: B Page: 235 Difficulty: Moderate Type: Comprehension 74 A Comprehension review of the different approaches to multicountry research suggests that the ideal approach is to have: A) all research done by the domestic research entity B) all research done by the local research entities C) local researchers in each country, with close coordination between the client company and the local research companies D) an international research department that is solely responsible for all research not matter where in might be needed E) none of the above is really the correct answer Answer: C Page: 236 Difficulty: Moderate Type: Comprehension 75 The text describes four kinds of company-agency-customer relationships that might be used to bridge the cultural barrier that is present in most international marketing research Which of the following is deemed to best suited for managing the cultural barrier across the chain of communication? A) Option A (company agency customers) B) Option B (company agency local agency customers) C) Option C (Company foreign agency customers) D) Option D (Company customers) E) none of the above is a correct option for a company to follow in the situation described Answer: B Page: 237, Exhibit 8.3 Difficulty: Hard Type: Comprehension and Application 26.Which of the following is NOT one of the factors changing the way countries trade and prosper in the twenty-first century? A) The transition from socialist to market-driven economies B) Liberalization of trade and investment policies in developing countries C) The transfer of public-sector enterprises to the private sector D) The rapid development of regional market alliances E) The expansion of military interventions around the world Answer: E Page: 247 Difficulty: Hard Type: Fact 27 The level of a country is the single most important environmental element to which the foreign marketer must adjust the marketing task A) political stability B) entrepreneurial C) economic D) technology E) literacy Answer: C Page: 246 Difficulty: Moderate Type: Comprehension 28 The current level of economic development within a country: A) determines the economic models to be used in countries' universities and colleges B) solidifies the mindset of the economic minister of any country to be traded with C) dictates the kind and degree of market potential that exists D) constrains the ability to exchange currency E) none of the above Answer: C Page: 247 Difficulty: Moderate Type: Comprehension 29 _ development is generally understood to mean an increase in national production that results in an increase in the average per capita gross domestic product (GDP) A) Market B) Export C) Import D) Economic E) Supply Answer: D Page: 247 Difficulty: Moderate Type: Definition 30 _, as commonly defined today, tends to mean rapid economic growth and increases in consumer demand A) Economic development B) Market development C) Supply development D) Export development E) Import development Answer: A Page: 247 Difficulty: Moderate Type: Definition 31 Which of the following people is generally recognized as having developed the bestknown model for classifying countries by stage of economic development? A) Milton Friedman B) John Maynard Keynes C) Arthur Laffer D) Walt Rostow E) Yorham “Jerry” Wind Answer: D Page: 247 Difficulty: Hard Type: Fact 32 All of the following would be considered to be recognized stages of Rostow's five-stage model presented in the text for classifying countries with respect stage of economic development EXCEPT: A) The abandonment of socialistic structures B) The traditional society C) The preconditions for take-off D) The drive to maturity E) The age of high mass consumption Answer: A Page: 247 Difficulty: Hard Type: Comprehension 33 Considering Rostow's five-stage model presented in the text for classifying countries with respect stage of economic development, if a country lacks the capability of significantly increasing the level of productivity and has low levels of modern science and technology, the country is in which of the following stages? A) The take-off B) The traditional society C) The preconditions for take-off D) The drive to maturity E) The age of high mass consumption Answer: B Page: 247 Difficulty: Moderate Type: Comprehension 34 Considering Rostow's five-stage model presented in the text for classifying countries with respect stage of economic development, if a country achieves a growth pattern that becomes a normal condition and has steady development in agriculture and industrial modernization, the country is in which of the following stages? A) The take-off B) The traditional society C) The preconditions for take-off D) The drive to maturity E) The age of high mass consumption Answer: A Page: 247 Difficulty: Hard Type: Comprehension 35 The final stage of Rostow's five-stage model for classifying countries with respect to stage of economic development is one called: A) the take-off B) the traditional society C) the preconditions for take-off D) the drive to maturity E) the age of high mass consumption Answer: E Page: 247 Difficulty: Easy Type: Comprehension 36 Countries that are experiencing rapid economic expansion and industrialization and not exactly fit as LDCs or MDCs are typically referred to as: A) LLDCs (least-developed countries) B) KDCs (kinetically-developing countries) C) PDCs (parallel-developed countries) D) NICs (newly industrialized countries) E) none of the above Answer: D Page: 248 & Exhibit 9.1 Difficulty: Hard Type: Comprehension 37 Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms As a result these countries have: A) attracted both trade and foreign direct investment B) overcome environmental damages caused by lack of development C) reduced population pressures through labor outsourcing D) joined the United Nations' economic development referral council E) all of the above Answer: A Page: 248 Difficulty: Hard Type: Comprehension 38 Which of the following countries would carry the label MDC (more-developed countries)? A) Canada B) England C) France D) Germany E) all of the above would carry the label Answer: E Page: 248 Difficulty: Easy Type: Fact and Definition 39 Countries classified LLDC (least-developed countries) would be industrially underdeveloped, agrarian, subsistence societies with rural populations, extremely low per capita income levels, and would have _ world trade involvement A) only petroleum products B) significant C) little D) substantial E) service-oriented Answer: C Page: 248 Difficulty: Moderate Type: Definition 40 According to information presented in the text, Chile, Brazil, Mexico, and South Korea don't exactly fit as MDCs (more-developed countries) or LDCs (less-developed countries) A new category applies to these countries Which of the following would be most appropriate? A) LLDCs (least-developed countries) B) KDCs (kinetically-developing countries) C) PDCs (parallel-developed countries) D) NICs (newly industrialized countries) E) none of the above Answer: D Page: 248 Difficulty: Moderate Type: Application and Definition 41 Which of the following countries WOULD NOT be classified as one of the “Four Tigers” of Southeast Asia? A) South Korea B) Taiwan C) the Philippines D) Hong Kong E) Singapore Answer: C Page: 249 Difficulty: Moderate Type: Fact and Comprehension 42 All of the following factors are cited as being reasons that NICs (newly industrializing countries) have had such remarkable success EXCEPT: A) political stability B) economic and legal reforms C) development of mass media advertising D) outward orientation E) entrepreneurship Answer: C Page: 248 Difficulty: Moderate Type: Comprehension 43 If a NIC (newly industrializing country) had the characteristic of increasing the production for the domestic market and export markets with increases in efficiencies and continual differentiation of exports from competition as its focus, the country would be using which of the following factors as a component for growth? A) economic and legal reforms B) privatization C) an outward orientation D) entrepreneurship E) factors of production Answer: C Page: 248 Difficulty: Moderate Type: Comprehension and Application 44 When countries sell off state-owned enterprises, it usually results in a: A) surge in domestic savings to spend B) decline in productivity throughout the private sector C) release of capital to invest elsewhere D) change in political leadership which often reduces social tension E) all of the above Answer: C Page: 250 Difficulty: Moderate Type: Comprehension and Application 45 The Internet accelerated the process of economic growth by speeding up the diffusion of to emerging economies A) political propaganda B) cell phones C) PDAs D) new technologies E) simulated consumption Answer: D Page: 251 Difficulty: Moderate Type: Comprehension 46 The Internet facilitates , a fundamental underpinning for economic development A) psychological dialogue B) anthropological change C) social cohesiveness D) political ideas E) education Answer: E Page: 252 Difficulty: Hard Type: Comprehension 47 Which of the following would be characterized as being the fundamental objective of most developing countries? A) Entrepreneurship B) Industrialization C) Conservation of resources D) Enabling a strong home land defense force E) Establishing a strong agricultural system Answer: B Page: 252 Difficulty: Moderate Type: Comprehension 48 Paved roads, railroads, and energy supplies are illustrations of a country's: A) supply system B) labor support system C) infrastructure D) extrastructure E) microenvironment Answer: C Page: 253 Difficulty: Moderate Type: Definition and Application 49 Countries begin to lose economic development ground when their _ cannot support an expanding population and economy A) source remediation technology B) infrastructure C) cultural arts D) statistical discrepancy accounting E) currency conversion ratio Answer: B Page: 253 Difficulty: Hard Type: Fact 50 Economic planners are often more _ oriented than oriented A) production; marketing B) private; public C) profit; policy D) system; subject E) logistically; symbolically Answer: A Page: 254 Difficulty: Easy Type: Fact 51 According to a case made by the text, economic planners with a national goal of growth should be more concerned with the efficiency of than with the other choices mentioned A) production B) investment C) finance D) distribution E) advertising Answer: D Page: 254 Difficulty: Moderate Type: Fact and Application 52 is an economy's arbitrator between productive capacity and consumer demand A) Management B) Marketing C) Public relations D) Operations procedures E) Economics Answer: B Page: 255 Difficulty: Easy Type: Comprehension 53 The level of market development roughly parallels the stages of: A) the product life cycle B) the adoption curve C) a production cycle D) marketing mix application E) economic development Answer: E Page: 256 Difficulty: Moderate Type: Comprehension 54 Estimating demand potential in less-developed countries involves myriad challenges Most of the difficulty arises from economic: A) dualism B) scarcity C) boycotts D) chaos E) symbolism Answer: A Page: 256 Difficulty: Moderate Type: Definition and Comprehension 55 Morris Mayer has found it difficult to accurately estimate market potential in Mexico He has observed that while Mexico has had rapid technological growth and production that can certainly be classified as modern, it also has certain traditional sectors in the rural parts of the country that are at best primitive This situation is best described as being one of economic: A) dualism B) scarcity C) fantasy D) chaos E) symbolism Answer: A Page: 256 Difficulty: Easy Type: Application and Definition 56 With respect to the evolution of the marketing process, which of the following stages would be considered to be the most fundamental stage (first stage) of the process? A) marketing B) regionalism C) manufacturing D) agricultural and raw materials E) entrepreneurship Answer: D Page: 257, Exhibit 9.3 Difficulty: Easy Type: Comprehension 57 If a country was primarily dominated by nomadic or hunting tribes, which of the following stages of the marketing process would most likely be used to describe the country? A) marketing B) regionalism C) manufacturing D) agricultural and raw materials E) entrepreneurship Answer: D Page: 257, Exhibit 9.3 Difficulty: Moderate Type: Comprehension and Application 58 According to the evolution of the marketing process, mass production first came to the United States during which of the following time periods? A) 1885-1914 B) 1776-1785 C) 1805-1830 D) 1915-1929 E) 1950-present Answer: A Page: 257, Exhibit 9.3 Difficulty: Hard Type: Fact and Application 59 Which of the following best characterizes the United States today with respect to the evolution of the marketing process? A) mass production B) commercial transition C) cottage industry D) surplus commodity product E) mass distribution Answer: E Page: 257, Exhibit 9.3 Difficulty: Moderate Type: Fact and Application 60 With respect to the evolution of the marketing process, the United States is best characterized today as to its primary orientation as being a nation whose focus is on: A) entrepreneurial/commercial B) entrepreneurial/financial C) production and finance D) marketing E) public relations and advertising Answer: D Page: 257, Exhibit 9.3 Difficulty: Hard Type: Fact and Application 61 Cars, TVs, and personal computers per 1000 people are indicators of: A) internal supply coefficients B) external market demand C) interactive communication complications D) demand for consumer services E) market potential Answer: E Page: 259, Exhibit 9.4 Difficulty: Moderate Type: Fact 62 In a country with a dual economy, as the transition from traditional to modern takes place: A) the traditional sector will continue to offer the most potential B) the modern, middle income class may offer the greatest potential C) the modern sector will revert to the consumer practices of the traditional sector D) the traditional sector will block entry of marketers to the modern sector E) all of the above Answer: B Page: 258 Difficulty: Hard Type: Fact 63 The companies that invest in developing markets _ will benefit in the future A) when it is difficult and initially unprofitable B) after the process of growth has begun C) where there are many competitors D) at the request of the poorest citizens E) all of the above Answer: A Page: 260 Difficulty: Easy Type: Fact 64 In the language of international marketing, BEM stands for: A) business, e-commerce, and marketing B) business units and economic models C) big emerging markets D) bilingual economic microcosms E) none of the above Answer: C Page: 261 Difficulty: Moderate Type: Definition 65 Big emerging markets (BEMs) share a number of important traits All of the following would be among those traits EXCEPT: A) they principally export labor and raw resources B) they are all physically large C) they have significant populations D) they are “regional economic drivers.” E) they are of major political importance within their regions Answer: A Page: 261 Difficulty: Hard Type: Fact and Comprehension 66 If a market is characterized as being physically large, has significant population, is a regional economic driver, and has undertaken significant programs of economic reform, the market is classified as a(n): A) cottage industry market B) less developed market C) entrepreneurial market D) agrarian market E) big emerging market Answer: E Page: 261 Difficulty: Moderate Type: Definition 67 Which of the following Latin American countries would NOT be considered a BEM (big emerging country)? A) Argentina B) Brazil C) Guatemala D) Mexico E) Venezuela Answer: C Page: 261 Difficulty: Moderate Type: Fact 68 What is happening in BEMs today is analogous to what happened in: A) Saudi Arabia in the 1800s B) India during the British Empire period C) Russia after the fall of the czar D) Europe after World War II E) no where else in the world, ever It is unique in economic development history Answer: D Page: 263 Difficulty: Easy Type: Comprehension 69 Of the former Soviet bloc nations of Eastern Europe, the Czech Republic seems to be doing the best in reshaping itself in terms of: A) returning to pre-occupation political and market structures B) offering alternative economic development to Asian partners C) adapting to realigned Russian economic partnerships D) the Western model of economic behavior and performance E) the transition from capitalism to socialism Answer: D Page: 267 Difficulty: Moderate Type: Fact 70 The former Soviet-controlled Eastern European countries that did not move to market economies: A) permitted Western experts to run their economies for them B) have experienced the fastest rates of economic growth in the region C) substituted domestic capital for foreign investment D) permitted bureaucrats from communist days to delay and derail reforms E) all of the above Answer: D Page: 267 Difficulty: Easy Type: Comprehension 71 According to information found in the text, of the Baltic States, Estonia has made the most of its split from the former Soviet Union and exceeds its neighbors in production and economic reform because Estonia did all of the following EXCEPT: A) established domestic export controls B) dropped the ruble as its currency C) privatized companies and land D) let struggling banks fail E) adopted a free trade policy Answer: A Page: 267 Difficulty: Hard Type: Comprehension 72 The text describes China as having a dual economic system This refers to China's _ and _ tenets A) market-driven; supply-side driven B) egalitarian; unitarian C) socialist; capitalist D) aristocratic; democratic E) internal; external Answer: C Page: 269 Difficulty: Easy Type: Fact 73 Miles Daniels has heard that if his company is to succeed in Asia it must be willing to trade with one or more of the Four Tigers All of the following are part of the group of countries known as the Four Tigers EXCEPT: A) Hong Kong B) South Korea C) Australia D) Singapore E) Taiwan Answer: C Page: 268 Difficulty: Easy Type: Comprehension and Fact 74 The rule of governing law that most accurately describes the relationship between Hong Kong and China is: A) “let the buyer beware.” B) “he who has the might makes the right.” C) “trade will not supersede the people.” D) “communist wealth.” E) “one country, two systems.” Answer: E Page: 271 Difficulty: Moderate Type: Application 75 The talks on One China include establishing “three direct links” referring to: A) education, emancipation, and equity B) religion, culture, and marketing C) systems, energy, and advertising D) sports, education, and environmental E) transportation, trade, and communications Answer: E Page: 269 Difficulty: Moderate Type: Fact ... E) Global marketing Answer: A Page: 18-20 (19) Difficulty: Moderate Type: Comprehension Multiple Choice Questions 26 The United States has many successful trade relationships Four of these relationships