Globalization and Business Exam Practice Tests
Course Introduction
This course examines the multifaceted impact of globalization on contemporary business practices, exploring how the interconnectedness of economies, cultures, and markets shapes corporate strategy and operations. Students will analyze the opportunities and challenges that arise from global trade, investment, and competition, while considering the roles of international institutions, technological advances, and shifting political landscapes. Through case studies and theoretical frameworks, the course equips learners with the skills to assess global risks, devise cross-border strategies, and navigate the ethical and cultural complexities of conducting business in a globalized world.
Recommended Textbook
Introduction to Global Business 1st Edition by Julian Gaspar
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15 Chapters
1250 Verified Questions
1250 Flashcards
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Page 2
Chapter 1: The Rise of Globalization
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87 Verified Questions
87 Flashcards
Source URL: https://quizplus.com/quiz/19341
Sample Questions
Q1) The "soft" qualities essential to globalization include openness, protectionism, accountability, connectivity, democracy, and centralization.
A)True
B)False
Answer: False
Q2) The most recent device(s)that enables greatest ease in portability and accessibility of information is (are)the _____.
A) magazines
B) newspapers
C) Internet
D) smart phones
E) computer
Answer: D
Q3) The socio-economic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which in turn could lead to increased economic growth and geo-political integration and interdependence among nations of the world refers to ________.
Answer: globalization
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Chapter 2: The Evolution of International Business
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88 Verified Questions
88 Flashcards
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Sample Questions
Q1) The agreement reached between Power Trip and the two foreign nations where they would sell components to Power Trip in exchange for allowing sales of its products within their borders most closely resembles which one of the following?
A) Subsidizing exports
B) Establishing a generalized system of preferences
C) Development of a domestic content provision
D) Establishment of a quantitative restriction (QR)
E) Engagement in countertrade
Answer: E
Q2) Historically, the main instrument of trade policy has been _____.
A) export subsidy
B) export taxes
C) corporate duties
D) import tariff
E) special tariff
Answer: D
Q3) _______ refers to the corporate practice of acquiring or producing quality goods or services abroad at a lower cost thereby eliminating domestic production.
Answer: Outsourcing
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Page 4
Chapter 3: Regional Economic Integration
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69 Verified Questions
69 Flashcards
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Sample Questions
Q1) Of the following, which is NOT true about the future of ASEAN?
A) ASEAN's Vision 2020 calls for aggressive outward-looking economic policies.
B) Several bilateral Free Trade Agreements are currently being implemented.
C) A growing ASEAN concern is the economic ascendancy of North Korea.
D) The ASEAN-Japan Comprehension Economic Partnership agreement covers trade in goods, services, and investment and economic cooperation.
E) The ASEAN Australian-New Zealand FTA was signed in February 2009.
Answer: C
Q2) According to the text, which of the following is the third stage of regional integration?
A) A customs union
B) An economic union
C) A free trade area
D) A common market
E) A political union
Answer: D
Q3) The study of principles that govern the efficient spatial allocation of economic resources and the resulting consequences refers to _____.
Answer: economic geography
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5
Chapter 4: The International Flow of Funds and Exchange Rates
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108 Verified Questions
108 Flashcards
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Sample Questions
Q1) Insurance that reduces future risk is refered to as a _______.
Q2) ______ refers to an exchange that enables purchases and sales of currencies in the future with prices (or the forward rate)established at a previous time.
Q3) ____ is the practice of using the dollar or some other foreign currency together with, or instead of, a domestic currency in a country.
Q4) A system that determines the value of some currencies partly by demand and supply in the foreign exchange market, and partly by active government intervention in the foreign exchange market is called a ________.
Q5) One forecasting approach is to use a multiple regression model to estimate the relationship between changes in spot rates and fundamental factors. A)True
B)False
Q6) Calculation using the cost of a McDonald's restaurant sandwich to assess the relative values of currencies refers to the ______.
Q7) Financial authority established under the Bretton Woods Agreement in 1944 to help ensure the stability of the international monetary and financial system is known as the
Page 6
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Chapter 5: The Cultural Environment
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77 Verified Questions
77 Flashcards
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Sample Questions
Q1) Inwa means that groups at the top of the social pyramid exert a great deal of control over others at lower levels of the pyramid.
A)True
B)False
Q2) When doing business in Russia, it is not appropriate to look directly into the eyes of your Russian hosts.
A)True
B)False
Q3) Guanxi is a term utilized in _____.
A) China
B) Japan
C) Korea
D) Latin America
E) Arab Countries
Q4) The _________ variable refers to how rewards in a society are handed out.
Q5) Describe the cultural dimensions of doing business in Japan.
Q6) Describe five dimensions of Hofstede's research using country examples for each.
Q7) The ________ cultral dimension involves the worth of the individual versus the worth of the groups of which that person is a member ("me versus the group").
Page 7
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Chapter 6: The Legal and Political Environment of Global Business
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101 Verified Questions
101 Flashcards
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Sample Questions
Q1) Of the following statements, which is NOT true about democracies?
A) Democracy is Greek for "rule by the people."
B) Most, if not all, democracies today are what are known as athenian democracies.
C) Some democracies, such as Japan, Spain, and Great Britain, also have ceremonial monarchs
D) Opposite democracies are totalitarian countries.
E) Athenian democracy was developed around 500 BCE.
Q2) Describe how patents, trademarks, and copyrights help protect intellectual properties in today;s global business.
Q3) Describe the economic and political risks faced by companies doing business in global arena.
Q4) The ________ is a United States law that after a certain deductible provides U.S. businesses government insurance coverage for the risk of terrorism.
Q5) ________ is an economic ideology in which the government plays a strong role in the economy and may own stakes in certain businesses.
Q6) _________ law is the body of law governing legally enforceable agreements between parties to engage in economic exchange.
Page 8
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Chapter 7: Corruption and Ethics in Global Business
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59 Verified Questions
59 Flashcards
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Sample Questions
Q1) The third step of ethical decision making is to _____.
A) identify the alternative decisions and consequences
B) make the decision
C) define all the facts and circumstances
D) identify the people affected by the situation
E) determine that a decision needs to be made
Q2) The government can force an individual to sell his or her land so that a road can be built for the benefit of the public as a whole. This is an example of the _____ principle.
A) essence
B) governance
C) imperative
D) utilitarian
E) generalization
Q3) Production quality control and internal auditing are example of feedback controls.
A)True
B)False
Q4) ________ refers to a company's obligations to society, including the welfare of people and places affected by company activities
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Chapter 8: Entry Strategies in Global Business
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73 Verified Questions
73 Flashcards
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Sample Questions
Q1) The Coca-Cola company has operations in more than 140 countries and generates more that 55 percent of its profits from its overseas operations. Coca-Cola's annual profits are, therefore, more stable than those of a firm that focuses upon the U.S. market alone. Coca-Cola is engaging in _____.
A) importing
B) diversification
C) a merger
D) a joint venture
E) an exchange rate movements
Q2) Brazil is one of the world's lowest cost producers of ethanol and soybeans. Japanese corporations have heavily invested in Brazil to lease large tracts of land to grow soybeans for export to Japan, where they are used to derive products such as soy sauce and chicken feed. These Japanese companies are cutting costs by _____.
A) minimizing factor input costs
B) generating revenue
C) acquiring other companies
D) exploring joint ventures
E) reacting to exchange rate movements
Q3) Differentiate between strategic alliances and international joint ventures.
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Page 10
Chapter 9: Control of Global Business
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75 Verified Questions
75 Flashcards
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Sample Questions
Q1) Describe the importance of mission in an organization's strategy making process.
Q2) If Dunkin Donuts (DD)were to follow the actions of Starbucks and copy all of their strategies and pricing, DD can be described as a _____.
A) defender
B) prospector
C) reactor
D) analyzer
E) coordinator
Q3) According to Professors Raymond Miles and Charles Snow, under which of their classifications would Blackford Industries, Inc. must likely fall?
A) Reactors
B) Protectionists
C) Prospectors
D) Defenders
E) Challengers
Q4) Differentiate between explicit and tacit knowledge. Explain the role these play in the coordination of strategy implementation for global businesses.
Q5) _______ are one to three year plans formulated for implementing strategic goals.
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Chapter 10: The Organization of Global Business
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69 Verified Questions
69 Flashcards
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Sample Questions
Q1) C.K. Prahalad postulates that stateless corporations represent the _____ stage of globalization.
A) first
B) second
C) third
D) fourth
E) fifth
Q2) Which one of the following would Windmere Technologies not claim as a purpose of its organizational structure?
A) Serves as a barrier to interactions with other organizations
B) Determines the boundaries of the organization
C) Regulates its interactions with the environment
D) Utilizes a division of labor system that leads to departmentalization
E) Integrates mechanisms such as formal rules and procedures
Q3) According to Ms. Bartz, former CEO of Yahoo!, organizational structure promotes innovation.
A)True
B)False
Q4) Differentiate between functional and divisional organizational structures. Provide an example of each.
Page 12
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Chapter 11: Global Human Resource Management
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76 Verified Questions
76 Flashcards
Source URL: https://quizplus.com/quiz/19351
Sample Questions
Q1) Hofstede's dimension of _____ relates to the extent that people think of themselves as members of a group or collective, rather than discrete individuals.
A) power distance
B) uncertainty avoidance
C) individualism vs. collectivism
D) masculinity vs. femininity
E) long-term vs. short-term orientation
Q2) _______ are employees who are working in countries other than their native countries.
Q3) The rate of expatriate failure has traditionally been _____ percent or more.
A) 15
B) 30
C) 45
D) 60
E) 75
Q4) Differentiate between outsourcing and offshoring. Analyze the pros and cons of these practices.
Q5) ______ involves preparing employees for new future assignments or higher level positions.
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Chapter 12: Global Marketing
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96 Verified Questions
96 Flashcards
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Sample Questions
Q1) Describe the product life cycle as a useful tool for managing products after they have been introduced to foreign markets.
Q2) A channel of distribution that purchases products from a company doing business in a foreign market and then resells them to other buyers is called a(n)_____.
A) freight back-warder
B) freight forwarder
C) agent
D) public channel
E) distributor
Q3) Marketing strategies used in international markets by a company that are the same as those used in its domestic market refers to ______.
Q4) A market that includes companies that purchase products and services such as equipment and machinery, supplies, lubricants, consulting services, cleaning services, advertising, marketing research, raw materials, semi-finished products, and so on is referred to as a consumer market.
A)True
B)False
Q5) _____ refers to information collected at one particular time.
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Page 14
Chapter 13: Global Operations and Supply-Chain Management
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86 Verified Questions
86 Flashcards
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Sample Questions
Q1) Microchips and jewelry are examples of goods with
A) low fixed costs.
B) no minimum efficient scale.
C) low value-to-weight ratio.
D) highly wasted fixed costs in location decision.
E) high value-to-weight ratio.
Q2) The production systems of Honda Motor Company, the Boeing Company, and Toshiba Corporation, would be called _____ systems.
A) production
B) manufacturing
C) service
D) component
E) raw
Q3) A ______ is a system that businesses use to create the goods and services, or to produce the products.
Q4) Differentiate between outsourcing and insourcing using a company example.
Q5) __________ refers to a property of ERP systems to simultaneously operate in multiple languages.
Q7) Steps in the production process are called __________. Page 15
Q6) Materials used to produce components are called __________.
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Page 16
Chapter 14: Global Financial Management
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) ______ are debt contracts sold by firms domiciled in a country in the home currency.
Q2) ______ are bonds that are sold in any country outside the home country, but in the home country's currency.
Q3) __________ refers to a basket of currencies consisting of dollars, euros, pounds, and yen created by the International Monetary Fund (IMF).
Q4) Attempts in currencies and currency derivatives to earn profits from trading them and help to make prices efficient are referred to as _______.
Q5) Selling a currency in a currency futures contract and profiting on a decrease in the value of the currency over time is called _____.
A) hedging
B) syndicating
C) a short position
D) a long position
E) marked-to-market exchange position
Q6) Does exchange rate risk affect firms' cash flows and its stock value? Explain.
Q7) Describe the options and swaps contract in hedging the forex risks. Provide an example of each.
Page 17
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Chapter 15: Accounting and Taxation in Global Business
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74 Verified Questions
74 Flashcards
Source URL: https://quizplus.com/quiz/19355
Sample Questions
Q1) Brininger Enterprises conducts international business. It realizes there are sometimes different accounting guidelines that need to be followed when dealing on an international level. In essence, there are differences between U. S. and international generally accepted accounting principles. Which one of the following is not a factor that would influence the development of accounting and financial reporting?
A) Numbering system
B) Sources of capital
C) Inflation
D) Culture
E) Legal systems
Q2) The highest corporate income taxes can be found in the United States and Japan. A)True
B)False
Q3) Are International Financial Reporting Standards important to global business operations? Explain.
Q4) _______ refers to the component of the accounting information system that provides financial information needed by external users such as investors and lenders.
Q5) _______ refers to the principles by which financial statements are prepared.
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