International Trade Question

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Answer T for true and F for false. Respond in “Red” ink.

1. We are each born with a specific culture.

2. According to the text, topography is an important consideration when establishing an international business.

3. It is not important for managers to have any knowledge of international business.

4. The text explains that there are four (4) drivers that push companies to create an international business.

5. Mountains do not tend to separate neighbors or impede exchange and interaction in business trade.

6. The text defines international business as business that is carried out across national borders. This definition includes not only international trade and foreign manufacturing but also the growing service industry in areas such as transportation, tourism, advertising, consulting, construction, retailing, wholesaling, and mass communications.

7. If a country has strict and tight accounting rules, it suggests that the culture has a low level of trust.

8. When working with different cultures, gift giving is construed as a simple kindness and not a reflection of intent.

9. Life cycle assessment and cradle-to-cradle design are two frameworks to think about sustainability.

10. The theory of comparative advantage, both countries may have an absolute advantage over one another.

11. Some countries use sanctions to effect or force change.

12. The domestic environment is all the uncontrollable forces originating in the home country that surround and influence the life and development of the firm.

13. Using wind as a power source is considered a renewable energy source.

14. According to figure 2.2, the major trading partners of the United States. The top 10 accounted for 80% of total U.S. exports and 20% of total U. S. imports in 2017.

15. Nonrenewable energy sources are energy sources that are replenished.

Select the best response:

16. If you supported mercantilism, you would agree to:

a. Accumulation of precious metals is an activity essential to a nation’s welfare.

b. Industrial development is the primary source of a nation’s wealth.

c. Trade policies that generally benefitted consumers and emerging industrialists should be promoted.

d. More than one nation can maintain a comparative advantage.

17. Environmental sustainability is global and local because:

a. It is a political issue as well as an academic one.

b. Business has become global, so sustainability must follow the trend.

c. Governments are not prepared to address environmental issues beyond the UN.

d. Environmental conditions do not recognize national borders.

18. This suggestion was made by E.T. Hall to do in order tolearn another culture:

a. Considerable amount of money and time to take guided tours in the other culture.

b. Spend a lifetime in the other culture.

c. Time studying the language of the other culture.

d. Considerable time with people in your culture.

19. Firms operating across borders deal with three kinds of environments:

a. Stereotypical, multicultural, foreign

b. None are listed

c. Geographic, political, economic

d. Initial, secondary, primary

20. Mountains with nations that divide the into smaller areas include:

a. Canada, the United States, and Estonia.

b. Switzerland, Afghanistan, China, and Colombia

c. Luxembourg, France, and Romania

d. None of the above.

21. American goods exported to three largest markets in 2017 were:

a. Japan, the United Kingdon, and China

b. China, Mexico, and the United States

c. Canada, Japan, and India

d. Mexico, Canada, and China

22. Geographical proximity contributes to:

a. Limited knowledge of the country by its neighbors.

b. Standardized freight costs.

c. The likelihood of trade relationships.

d. Distrust and contempt.

23. The text states that the stability of government has to do with:

a. Policies that are permanent or change gradually.

b. Democratic processes and free elections.

c. A commitment to military strength.

d. Leadership that listens to citizens and responds to their needs.

24. When you consider world trade, it mostly consists of exchanges:

a. Among non-bordering countries

b. Between geographic regions

c. Between state-owned enterprises

d. Within geographic regions

25. A measure that government utilizes to extract money from other businesses is:

a. They would privatize businesses

b. They would enact isolationism

c. They would nationalize businesses

d. None of the above

Critical Thinking Questions: List the reference page number from the course required textbook. Do not exceed 400 words in your responses.

26. Your company has a policy of no gift giving or accepting. You are representing the company in negotiations in China for design of a multi-phased manufacturing facility. Discuss the role of gift giving you might expect in a culture such as China and how you plan to approach the issue.

27. Should we be investing in new technologies to access oil and other fossil fuels, or should all our efforts go toward facing the inevitable decline of the fossil fuels? Explain your reasoning.

28. “Sending service jobs to low-cost nations such as India, is good for America.” What are the arguments in support of such an assertion? Under what circumstances might such an assertion be viewed as false?

29. Describe how cultural learning programs, such as those advocated by E. T. Hall, can benefit international business managers.

30. Identify and discuss the major kinds of drivers listed in the text that are leading international firms to the globalization of their operations.

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