Any commercial transaction that crosses the borders of two or more nations is known as ________.

• domestic marketing

• market segmentation

• international business

• global manufacturing

Goods and services purchased abroad and brought into a country are called ________.

• gross domestic products

• exports

• gross national products

• imports

Olive oil prepared in a small Italian oil press factory and sold by large supermarkets in the United States is an example of a ________.

• net national product

• U.S. export

• U.S. import

• gross domestic product

Which of the following terms applies to the sale of a particular brand of jeans manufactured in the U.S. and sold in Canadian stores?

• exporting

• outsourcing

• insourcing

• importing

The rise of a new international entity called the ________ suggests that any company, regardless of age, experience, and resources, can engage in international business.

• transnational corporation

• multinational corporation

• born global firm

• global firm

________ is an effective alternative to traditional distribution channels for firms that sell digitized products.

• Dual licensing

• Electronic distribution

• Visual merchandising

• Digital switchover

Globalization is characterized by ________.

• the demise of democracy within a nation

• national boundaries becoming less relevant

• the fortification of trade barriers

• rigid foreign relations policies

Globalization is characterized by ________.

• the demise of democracy within a nation

• national boundaries becoming less relevant

• the fortification of trade barriers

• rigid foreign relations policies

Most companies today operate in an environment of increased transparency and scrutiny regarding their business activities. This is due to ________.

• the rise of the social media

• the prosperity of developing nations

• the heterogeneity in markets

• labor market flexibility in developing nations

Scenario: Topsy Turvey Toys and Ureshi Toys

Topsy Turvey Toys is a U.S.-based toy retailer that buys all its merchandise from Ureshi Toys, a Japan-based toy manufacturer with production facilities in twelve nations. Ureshi Toys markets its toys globally without modification.

Topsy Turvey Toys buying its merchandise from Ureshi Toys is an example of ________.

• importing

• exporting

• outsourcing

• insourcing