AOF- What is Int'l Bus?

International Business is all commercial activities that take place to promote the transfer of ____________, ___________, ____________, people, ideas, and technologies across national boundaries.

• goods, services, governments

• data, services, governments

• goods, services, resources

• data, services, goods

“As internet access and adoption are rapidly increasing around the globe, the number of digital buyers worldwide keeps climbing every year.”

• True

• False

Contractual agreements that allow foreign firms to use products, services, and processes from other nations are known as:

• Licensing, Copyrighting

• Licensing, Franchising

• Copyrighting, Franchising

• Patenting, Processing

A strategic business model that involves promoting products and services in various markets around the world and adapting the product/service to the cultural norms, taste preferences, and religious customs of the various markets.

• Multi-National Strategy

• Multi-Domestic Strategy

• Comparative Advantage

• Uni-Lateral Strategy

A business strategy that involves selling products and services in different foreign markets without changing the characteristics of the product/service to accommodate the cultural norms or customs of the various markets.

• Multi-National Strategy

• Multi-Domestic Strategy

• Comparative Advantage

• Uni-Lateral Strategy

_____________ occurs when a nation has an advantage over other nations in terms of access to affordable land, resources, labor, and capital. In other words, a country will export those products or services that utilize abundant factors of production.

• Multi-National Strategy

• Multi-Domestic Strategy

• Comparative Advantage

• Uni-Lateral Strategy

Technological innovation that facilitates global communication and transportation has helped grow International Business.

• True

• False

The dissolution of a number of communist markets, thus opening up many economies to private business has slowed the growth of International Business.

• True

• False

Companies may seek to invest internationally when their home market becomes ________________.

• Successful

• Advantageous

• Abundant

• Saturated

International Business encourages companies to become more innovative and efficient in their use of resources.

• True

• False