International Trade Midterm Exam
Course Introduction
International Trade explores the economic, political, and institutional factors that drive the exchange of goods and services across national borders. This course examines key theories of trade, including comparative advantage and the effects of tariffs and quotas, as well as the role of international organizations such as the World Trade Organization. Students will analyze how globalization, trade policies, and current events shape global markets, impact economic growth, and influence both developed and developing economies. Through case studies and real-world applications, learners will gain insight into contemporary challenges and opportunities in international commerce.
Recommended Textbook
Global Marketing 7th Edition by Warren J. Keegan
Available Study Resources on Quizplus
17 Chapters
1530 Verified Questions
1530 Flashcards
Source URL: https://quizplus.com/study-set/883
Page 2
Chapter 1: Introduction to Global Marketing
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17463
Sample Questions
Q1) The discipline of marketing is universal, and such marketing practices do not vary from country to country.
A)True
B)False
Answer: False
Q2) What are the dimensions of global marketing strategy (GMS)that pertain to marketing management? Explain in detail giving examples.
Answer: GMS has three dimensions that pertain to marketing management.First, "concentration of marketing activities" such as promotional campaigns or pricing decisions are performed in one or a few country locations.The second, "coordination of marketing activities," refers to the extent to which marketing activities related to the marketing mix are planned and executed interdependently around the globe.Finally, "integration of competitive moves" is the extent to which a firm's competitive marketing tactics in different parts of the world are interdependent.In essence, GMS should enhance the firm's performance on a worldwide basis.
Q3) Nontariff barriers (NTBs)are monetary restrictions on cross-border trade.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: The Global Economic Environment
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17464
Sample Questions
Q1) Upper-middle-income countries, also known as industrializing or developing countries, are those that achieve the highest rates of economic growth and are also collectively referred to as Newly Incoming Economies or NIEs.
A)True
B)False
Answer: False
Q2) Traditionally economists identified four main types of economic systems.However, due to globalization it is harder to categorize the systems narrowly.What will be more robust descriptive criteria that can be used for classification?
Answer: (a)type of economy; (b)type of government; (c)trade and capital flows; (d)the commanding heights; (e)services provided by the state and funded through taxes; (f)institutions; and (g)markets.
Q3) The thirty nations that belong to the OECD, who believe in market-allocation economic systems and pluralistic democracy, addressed the vexing problem of bribery by requiring members to cooperate when pursuing bribery allegations.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Regional Market Characteristics and Preferential Trade Agreements
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17465
Sample Questions
Q1) In spite of NAFTA creating a free trade area, Mexican avocado growers can only ship their fruit to the United States during the winter months, and only to states in the northeast subject to a quota of $30 million worth of avocados per year.
A)True
B)False
Answer: True
Q2) In order to form a free trade area, South Africa has been in discussion with:
A)Swaziland.
B)EU.
C)Namibia.
D)Angola.
E)Japan.
Answer: B
Q3) The six countries in the Gulf Cooperation Council (GCC)hold about 45% of the world's known oil reserves, but production is only about 18% of world oil output.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Social and Cultural Environments
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17466
Sample Questions
Q1) Disney is hoping to appeal to India's family-oriented middle-class consumers; the core themes include "believe in yourself, express yourself, and celebrate your family."
Disney is also using cable television for its program in a number of local languages and dialects.This is an example of:
A)capitalizing on astrological beliefs of Indians.
B)a first step in introducing U.S.programs in emerging markets.
C)attracting families to theme parks in India.
D)emphasizing the role of families in emerging markets.
E)adapting to cultural differences and going native in emerging markets.
Q2) As cultural information and imagery flow freely across borders via satellite TV, the Internet, and similar communication channels, new global consumer cultures are emerging.
A)True
B)False
Q3) Diesel founder Renzo Rosso has asserted that his brand's "Diesel" name is one of the few words which is pronounced the same in almost every language.To a linguist, this comment is best understood within the context of phonology.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: The Political, Legal, and Regulatory
Environments
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17467
Sample Questions
Q1) Which of the following actions were approved both by the Antitrust Review in the EU as well as in the United States?
A)acquisition of Honeywell (U.S.)by GE (U.S.)
B)joint venture between music businesses of EMI group (Great Britain)and Time Warner (U.S.)
C)merger of Sony Music (Japan)and BMG (Germany)
D)merger of WorldCom (U.S.)and MCI (U.S.)
E)British Airways (U.K.)and American Airlines (U.S.)
Q2) A trademark gives the inventor of a product the exclusive legal right to make, use, and sell an invention for a specific period of time.
A)True
B)False
Q3) Which of the following is true about protection of computer software?
A)Copyright laws protect both the actual code and the idea embodied in the code.
B)Patent laws protect both the actual code and the idea embodied in the code.
C)Patent laws protect the actual code, while copyright laws protect the idea.
D)Copyright laws protect the actual code, while patent laws protect the idea.
E)License protects both the actual code and the idea embodied in the code.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Global Information Systems and Market Research
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17468
Sample Questions
Q1) CRM tools allow companies like American Express, Dell, Sharp, and Sony to determine which customers are most valuable and to react in a timely manner with customized products and service offerings that closely match customer needs.
A)True
B)False
Q2) In global marketing research, it is important to establish scalar equivalence when obtaining information from different countries.
A)True
B)False
Q3) What are "interdependence techniques" in the analysis of data? What type of measurement is possible with this technique, and what are different methods that are used in marketing research?
Q4) How can observational studies and focus groups be used in marketing research? What are the different methods by which these studies are conducted?
Q5) Authors Michael Czinkota and Ilka Ronkainen identified four specific environmental factors that may require international research efforts to be conducted differently than domestic research.Describe those factors to outline the differences.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Segmentation, Targeting, and Positioning
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17469
Sample Questions
Q1) "Usage rates" and "user status" are important criteria for which segmentation variable?
A)demographic
B)occupational
C)psychographic
D)behavioral
E)benefit
Q2) Due to globalization "it is a small world after all." Also, vast scale migration of populations due to various reasons, including opportunities, has created large segments of ethnic population.Considering these facts, highlight the ethnic segmentation and its importance.
Q3) One of the advantages of targeting a market segment globally is that although the segment in a single-country market might be small, even a narrow segment can be served profitably if the segment exists in several countries.
A)True
B)False
Q4) What is psychographic segmentation, and how do marketers use it in targeting different world markets?
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Importing, Exporting, and Sourcing
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17470
Sample Questions
Q1) What are the differences between antidumping and countervailing duties? Under what conditions are these duties imposed?
Q2) Direct representation, as opposed to representation by independent intermediaries for exporting in the market country, has several advantages which do not include:
A)facilitates control and communications.
B)allows decisions concerning program development and resource allocation.
C)benefits when a product is not yet established in a market.
D)ensures marketer's interest and special efforts.
E)helps selling products directly to the consumer in the market country.
Q3) An ad valorem duty is expressed as a percentage of the value of goods.
A)True
B)False
Q4) The international standard by which letters of credit (L/Cs)are interpreted is known as the ________ 500.
A)UCP
B)NTR
C)FSC
D)NTB
E)HTS
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Global Market Entry Strategies: Licensing, Investment, and Strategic Alliances
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17471
Sample Questions
Q1) Which of the following is not a characteristic of global strategic alliances?
A)Participants maintain independence outside the framework of alliance.
B)Participants share benefits of the alliance.
C)Participants share control over the performance of the assigned tasks.
D)Participants make ongoing contributions in technology, products, and other areas.
E)Participants agree not to compete in areas unrelated to the alliance.
Q2) Foreign direct investment figures reflect investment flows out of the home country as companies invest in or acquire plants, equipment, or other assets.
A)True
B)False
Q3) GSPs (Global Strategic Partnerships)are attractive for several reasons which do not include:
A)sharing high product development costs.
B)sharing technological developments.
C)securing access to national and regional markets.
D)continuous transfer of technology between partners.
E)focus on a single national market or a specific problem.
To view all questions and flashcards with answers, click on the resource link above.
Page 11
Chapter 10: Brand and Product Decisions in Global Marketing
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17472
Sample Questions
Q1) For a country like Slovenia to enhance its image abroad is a very different matter than for China.
A)True
B)False
Q2) Procter & Gamble recently introduced Pampers Rash Guard.Rash Guard does not represent a new product per se; rather, the diapers are being marketed as an alternative to regular Pampers.What type of innovation do Pampers Rash Guard diapers represent?
A)a continuous innovation
B)a dynamically continuous innovation
C)a discontinuous innovation
D)a platform-based innovation
E)none of the above
Q3) Scotland's top export category is information technology.
A)True
B)False
Q4) The "Virgin" brand is a global brand with several brand extensions.
A)True
B)False
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Pricing Decisions
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17473
Sample Questions
Q1) A working knowledge of Incoterms can be a source of competitive advantage to anyone seeking an entry-level job in global marketing.What are "Incoterms," and how are they classified? How are Incoterms applied in global marketing?
Q2) A manufacturer attempting to set prices for its products in export markets must realize that CIF, VAT, and distributor markup all lead to:
A)currency devaluations.
B)dumping charges.
C)market skimming.
D)price escalation.
E)market penetration.
Q3) Kraft recently signed an accord with the Rainforest Alliance to buy coffee beans that are certified as being produced with sustainable agricultural practices and then blend them into their mass-market brands.
A)True
B)False
Q4) Several Incoterms are known as "C-Terms" or "main-carriage" terms.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
13
Chapter 12: Global Marketing Channels and Physical Distribution
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17474
Sample Questions
Q1) Nakumatt is a local supermarket chain in Kenya which provides an aspirational space that appeals to everyone.
A)True
B)False
Q2) Due to political upheaval in the Middle East, in spring 2011, Procter & Gamble was forced to briefly close plants in Egypt that supply products for South Africa.
A)True
B)False
Q3) Physical distribution and logistics are concerned with all but one the following.
A)order processing
B)warehousing
C)inventory management
D)transportation
E)designing in-store displays
Q4) Water transportation is rated "low" in reliability since approximately 200 freighters sink due to bad weather or other factors.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Global Marketing Communications Decisions I:
Advertising and Public Relations
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17475
Sample Questions
Q1) A global company that has the ability to successfully transform a domestic campaign into a worldwide one or to create a new global campaign from the ground up, possesses a critical marketing advantage.Explain this statement in light of the global advertising.
Q2) China's ongoing trade-related friction with the United States highlights the need for:
A)a better distribution system.
B)a better PR effort.
C)sales promotion.
D)a better transportation system.
E)pattern advertising.
Q3) Western advertising agencies still find markets such as China and Japan to be very complex, as Asian agencies find it just as difficult to establish local agency presence in Western markets.
A)True
B)False
Q4) A German agency devised McDonald's "I'm lovin' it" tagline.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Global Marketing Communications Decisions II:
Sales Promotion, Personal Selling, and Special Forms of Marketing Communication
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17476
Sample Questions
Q1) Ethnocentric companies are likely to use an expatriate sales force in countries at all levels of economic development.
A)True
B)False
Q2) The term magalog is used to describe which communication medium?
A)direct mail
B)Groupons
C)coupons
D)catalogs
E)infomercials
Q3) Industry observers expect the popularity of home shopping to increase during the next few years due to:
A)the formation of European Union.
B)the economic development in India.
C)the introduction of interactive television.
D)the introduction of iPhone.
E)the introduction of TV shops.
16
Q4) A number of factors must be taken into account when determining the extent to which the promotions must be localized.List and describe those factors giving examples.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Global Marketing and the Digital Revolution
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17477
Sample Questions
Q1) Industry experts expect marketers to integrate SMS with communication via other digital channels, such as the Internet and e-mail.
A)True
B)False
Q2) Wi-Fi, or wireless fidelity, permits laptop and PDA users to establish high-speed wireless connections to the Internet via:
A)infrared rays.
B)magnetic rays.
C)hot spots.
D)laptop warriors.
E)modem.
Q3) Ideally, each country-specific site should reflect all of the following except:
A)local culture.
B)language usage.
C)customs.
D)English translations.
E)aesthetic preferences.
Q4) What is meant by e-commerce? How can the e-commerce activities be classified?
Q5) What is convergence? What kind of challenges does it present?
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Strategic Elements of Competitive Advantage
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17478
Sample Questions
Q1) Chance events play a role in shaping the competitive environment.Chance events are occurrences which include all but one of the following:
A)major technological breakthroughs.
B)wars and their aftermath.
C)oil crisis.
D)currency fluctuations.
E)annual business meeting.
Q2) The ________ framework was developed by Professor Richard D'Aveni to describe a business environment in which no form of competitive advantage can be sustained for long because of escalating and accelerating competitive forces.
A)five forces model
B)generic strategies
C)strategic intent
D)hypercompetition
E)factor conditions
Q3) The irony and paradox of the hypercompetition framework is that, in order to achieve a sustainable advantage, companies must seek a series of "unsustainable" advantages.Explain this statement using dynamic strategic interaction sequence.
To view all questions and flashcards with answers, click on the resource link above.
18
Chapter 17: Leadership, Organization, and Corporate Social Responsibility
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/17479
Sample Questions
Q1) In a socially responsible firm, employees perform all of the following except:
A)conduct business in an ethical manner.
B)pursue goals and policies that are in society's best interest.
C)guided by moral principles.
D)distinguish between right and wrong.
E)develop their own core ideologies on moral principles.
Q2) Which global marketing expert recommends an organization design based on a "global superstructure" that views the world in terms of 30 regions?
A)Paul Krugman
B)Kenichi Ohmae
C)Tom Peters
D)Michael Porter
E)Kazuo Inamori
Q3) There is general agreement that the matrix design is the single best organization structure for global marketing.
A)True
B)False
Q4) At Whirlpool, North American operations are organized in matrix form.What is the key to successful matrix management?
To view all questions and flashcards with answers, click on the resource link above. Page 19