The merging of historically distinct and separate national markets into one huge global marketplace is referred to as the __________.

• GLOBALIZATION

• GLOBALIZATION OF MARKET

• GLOBALIZATION OF PRODUCTION

Firms that are involved in international

business tend to be

• LARGE

• SMALL

• MEDIUM

• ALL OF ABOVE

Which organization is responsible for policing

the world trading system?

• WORLD BANK

• WTO

• IMF

As a result of __________, a company such as IBM can build the case, keyboard and hard drive for its product in one country, build the wireless card in a second country, the microprocessor in a third country, and assemble it in still another country.

• GLOBALIZATION OF PRODUCTION

• GLOBALIZATION

• GLOBALIZATION OF MARKET

When a firm exports goods or services to consumers in another country

• international trade has occurred

• foreign direct investment takes place

• The volume of foreign trade declines

Falling barriers to cross-border trade:

• have made it harder to sell internationally

• have had no meaningful impact on international trade

• have made it easier to sell internationally

home country of Nestle is

• United States

• Switzerland

• Germany

Doing business in foreign countries is complex compared to local business because of the following EXCEPT

• the problem in foreign countries more complicated

• the culture is different

• the currency is similar

Volkswagen built a plant in Malaysia to take advantage of the following

• improve functionality of its product

• reduce the cost of production

• all of the above

the currency of Thailand is

• piso

• baht

• rupiah