Chapter Three Quiz Questions
Group 6
1. What % of countries is not convertible (can not exchange currency outside of those countries
borders)?
A. 2%
B. 70%
C. 50%
D. 10%
2. Which type of countries can compete better in the global marketplace with
rely on low-cost or hand made craft manufacturing?
products that
A. Developing Countries
B. Underdeveloped Countries
C. Rich Countries
D. Developed Countries
3. Which of the following is NOT a period of the business cycle?
A. Depression
B. Recovery
C. Prosperity
D. Deflation
E. Recession
4. Which structure of industry for competition in the microenvironment has 2 or 3
that control the marketplace?
A. Oligopoly
B. Monopolistic completion
C. Perfect competition
D. Monopoly
5. This country no longer is fully dependent on agriculture, and has shifted its
emphasis to industry.
What type of country does this describe?
A. Developing Country
B. Least Developed Country (LDC)
sellers
C. Developed Country
D. None of the Above
6. The airline industry is an example of _________, because each airliner holds a
significant part in a market with many buyers.
A. Monopolistic Competition
B. Oligopoly
C. Perfect Competition
D. Monopoly
7. What is the correct order of the 4 steps in deciding to go global?
A. Which market(s) to enter; whether to go global; how to adapt marketing
strategies; level of commitment
mix
B. Whether to go global; which market(s) to enter; level of commitment; how
adapt marketing mix strategies
to
C. Whether to go global; level of commitment; which market(s) to enter; how
adapt marketing mix strategies
to
D. How to adapt marketing mix strategies; level of commitment; whether to go global;
which market(s) to enter
8. When firms offering different products compete to satisfy the same consumer needs and
wants:
A. Product competition
B. Brand competition
C. Monopolistic competition
D. Perfect competition
9. Cultures in which people subordinate their personal goals to those of a stable
A. Individualist cultures
B. Special norms
community:
C. Collective Cultures
D. Personal cultures
10. Product strategy in which a firm offers the same product in both domestic and foreign
markets:
A. backward invention strategy
B. product invention strategy
C. product adaption strategy
D. straight extension strategy
Answers:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
B
A
D
A
A
B
B
A
C
D
BA 3301-002
Quiz Chapter 3-Group 5
1. What is ethnocentrism:
A. Belief that one's own norms and the products made in one's country are superior
B. the practice of only buying locally
C. the practice of having business centers
D. A campaign practice in Central America to promote the military
2. What is the practice of dumping:
A. illegal trash disposal in the Atlantic
B. pricing products lower than competitors in foreign markets to get a toehold.
C. flooding the market with over surplus
D. a form of labor reduction with mass lay-offs
3. What are the 3 stages of the business cycle?
A. peak, decline, trough
B. prosperity, recession, recovery
C. good, bad, worse
D. peak, recovery, decline
4. A monopoly is:
A. something that the U.S. government promotes.
B. when many firms compete against each other for customers.
C. just a board game.
D. when one seller controls the market.
5. What does the abbreviation WTO stand for:
A. World Trade Operations
B. World Tariff Organization
C. World Tariff Operations
D. World Trade Organization
6. A joint venture is a type of what?
A. Strategic alliance
B. Franchise
C. Licensing Agreement
D. Partnership
7. All economies go through all periods EXCEPT which one?
A. Prosperity
B. Inflation
C. Recovery
D. Surplus
8. What is a policy adopted by a government to give domestic companies an advantage?
A. import quotas
B. embargo
C. tariffs
D. protectionism
9. What is the total dollar value of goods and services produced by a nation within its
borders in a year?
A. GDP
B. GNP
C. economic communities
D. level of economic development
10. Which strategy is in which a firm offers a similar but modified product in foreign
markets?
A. Straight extension strategy
B. Product adaption strategy
C. Product invention strategy
D. Backward invention strategy
ANSWERS:
1. A
2. B
3. B
4. D
5. D
6. A
7. D
8. D
9. A
10. B