IB CHAP 1

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

________ are all goods and services sold abroad and sent out of a country.

• Net national products

• Exports

• Gross domestic products

• Imports

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 the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

• Privatization

• Heterogenization

• Globalization

• Decentralization

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

The term ________ refers to entities cooperating across national boundaries.

• internationalization

• supranationalism

• denationalization

• multiculturalism

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

The value of all goods and services produced by a country's domestic and international activities over a one-year period is the country's ________.

• gross domestic product (GDP)

• gross world product (GWP)

• gross national product (GNP)

• gross state product (GSP)

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