1. Values are general ideas about good and bad behaviors, resulting in what?
a. Peer pressure
b. Expectations
c. Social norms
d. None of the above
2. What choice(s) does a firm have when it decides on a product strategy?
a. sell the same product in the new market
b. modify it for new market
c. develop a brand new product to sell in new market
d. all of the above
3. Which set of countries are know as the BRIC countries?
a. Belize, Romania, Indonesia, Canada
b. Bahamas, Republic of Congo, Iraq, Chile
c.Brazil, Russia, India, China
d.Bolivia, Romania, Italy, Colombia
4. When someone voluntarily offers payments to get an illegal advantage it is called?
a. Extortion
b. Competitive intelligence
c. Expropriation
d. Bribery
5. What is Gross Domestic Product (GDP)?
a. the total dollar value of goods and services produced by a nation in it's lifetime.
b. the total dollar value of goods and services produced by a nation in a year.
c. the total dollar value of goods and services sold to other nations.
d. the total dollar value of goods and services imported in a year
6. Which of the following is the best definition for an oligopoly?
a. A market situation in which one firm the only supplier of a particular product,
is able to control the price, quality, and supply of that product.
b. A market structure in which a relatively small number of sellers, each holding a
substantial share of the market, compete in a market with many buyers.
c. A market structure in which many firms, each having slightly different
products, offer unique consumer benefits.
d. A Greek god.
7. What is the business cycle?
a. The process of gathering and analyzing publicly available information about
rivals.
B. The quality of a companies distribution, financial, and communications
system.
c. The overall patterns of change in the economy-including periods of prosperity,
recession, depression, and recovery-that affect consumer and business purchasing
power.
d. An indicator of the average quality and quantity of goods and services
produced by a company.
8. What are cultural values?
a. A society's deeply held beliefs about right and wrong ways to live.
b. Specific rules dictation what is right or wrong, acceptable or unacceptable.
c. The tendency to prefer products or people of one's own culture.
d. The attitudes and behavior of a particular social group.
9. An unethical and often illegal practice in which a company tries to get a toehold in a
foreign market by pricing its products lower than it offers them at home is called:
a. dumping
b. price gouging
c. price slump
d. foreign pricing
10. Extortion is:
a. when someone voluntarily offers payment to get an illegal advantage
b. when someone in authority extracts payment under distress
c. when shell companies are used to hid revenue losses
d. a form of negotiation
Answers:
1. C
2. D
3. C
4. D
5. B
6. B
7. C
8. A
9.A
10. B
Quiz Ch. 3
1. A firm seeking to "Go Global" must consider two factors, Domestic and Global
Market conditions and:
a. Comparative Advantage
b. Industrial Advantage
c. Technological Advantage
d. Competitive Advantage
2. The overall patterns of change in the economy that affect consumer and
business purchasing power is:
a. Gross Domestic Product
b. Business Cycle
c. Standard of Living
d. Level of Economic Development
3. Discretionary income is the amount of money people have left over after
paying necessities such as:
a. housing
b. utilities
c. food
d. clothing
e. all of the above
4. Perfect competition exists when:
a. many sellers, each having slightly different products, offer unique consumer
benefits
b. small number of sellers, each holding substantial share of the market,
compete in a market with many buyers
c. one seller is the only supplier of a particular product, is able to control the
price, quality, and supply of that product
d. many sellers, all of whom offer similar products, are unable to have an
impact on the quality, price, or supply of a product.
5. Under NAFTA rules, cars must have 62.5 percent of their components made in
North America to be able to enter Mexico and Canada duty-free. This is an
example of:
a. local content rules
b. US Generalized System of Preferences
c. Nationalization
d. Expropriation
6. The most common way to asses the economic health of a country is:
a. GNP
b. GDP
c. unemployment rate
d. population
7. demographics are:
a. pictures used to demonstrate an economy
b. cultural values
c. statistics that measure observable aspects of a population like age,
gender, income, education, and occupation
d. social norms and customs
8. What type of country is economically advanced and offer a wide range of
opportunities for international marketers due to its sophisticated marketing
systems and bountiful market potential?
A. Developed Country
B. Least Developed Country
C. Developing Country
D. It depends.
9. Which of the following is not a level of competition in the microenvironment?
A. Brand Competition
B. Discretionary Income
C. Monopolistic Competition
D. Product Competition
10. Company level decision to go global include the option to:
a. export
b. liscence
c. franchise
d. all of the above
1.
2.
3.
4.
5.
d
b
e
d
a
6. b
7. c
8. a
9. c
10. d
1) Which of the following is NOT one of the four strategies representing increased
levels of involvement?
a) Exporting
b) Contractual agreements
c) Direct investment
d) Importing
2) A quota completely prohibiting specified good from entering or leaving a country
is…
a) Import quotas
b) Embargo
c) Tariffs
d) Economic infrastructure
3) The __________ currently sets trade rules for its member nations, and mediates
disputes between nations.
a) Economic communities
b) General agreement on tariffs and trade (GATT)
c) Protectionism
d) The world trade organization (WTO)
4) __________ is a form of licensing that gives the franchisee the right to adapt an
entire way of doing business in the host country.
a) Strategic alliance
b) Franchising
c) Licensing agreement
d) Joint venture
5) Which of the following is not a part of the business cycle?
a) Recovery
b) Recession
c) Development
d) Prosperity
6) Discretionary income is the amount of money people have left after paying for
__________ such as housing, utilities, food, and clothing.
a) Luxuries
b) Frivolities
c) Monopolies
d) Necessities
7) Companies that develop products for countries without electricity use which of
the following marketing strategies?
a) Product adaption strategy
b) Backward invention strategy
c) Product invention strategy
d) Straight extension strategy
8) Which of the following is not a step in the consumer decision-making process?
a) Problem recognition
b) Evaluation of alternatives
c) Product choice
d) Consumer behavior
9) When perceived risk is low, we experience a small amount of involvement in the
decision-making process in _____ .
a) Low-involvement situations
b) High-involvement situations
c) Stressful situations
d) Information search
10) When does most problem recognition occur?
a) Spontaneously
b) When a true need arises
c) At work
d) A and B
Answers
1) D
2) B
3) D
4) B
5) C
6) D
7) B
8) D
9) A
10)D