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Worksheets4.0 Marketing in A Global Economy
Total questions: 16
Worksheet time: 16mins
Name
Class
Date
1.
Which of the following is an example of product adaptation?
a)
Creating an entirely new product for a specific country
b)
Keeping the brand name but changing the product to meet the needs of the country
c)
Changing the message or visuals in the advertising of the product
d)
Use the same products and promotion for every country
2.
Congress has the power to grant copyrights and patents to inventors. Why does this serve as an incentive in a free enterprise system?
a)
It offers inventors the guarantee that the government will cover their losses.
b)
It offers other producers the opportunity to copy the invention.
c)
It offers inventors the possibility of making profits in the market
d)
It offers other producers government grants to compete in the market.
3.
Which of the following is true if two countries have free trade between them?
a)
The larger of the two countries suffers because they give up too much
b)
Both countries benefit and the standard of living is increased for both
c)
The country with the comparative advantage does not produce the goods
d)
It is unknown because this has never happened in the history of economics
4.
“War toys cannot be advertised in Greece” is an example of what which global environmental factor?
a)
Cultural factor
b)
Technology factor
c)
Political factor
d)
Socio-economic factor
5.
Which of the following is NOT a global marketing strategy?
a)
Product adaptation
b)
Customization of products
c)
Promotion adaptation
d)
Surveying Americans to see what foreign products they buy
6.
What is the main difference between multinational and domestic businesses?
a)
Multinationals receive funds from foreign investments for facilities abroad
b)
The number of employees the company has
c)
The size of the company
d)
Multinationals don’t have to follow foreign rules & regulations
7.
What is the main difference between a multinational and a mini-national business?
a)
The number of countries they operate in
b)
The size of the company
c)
There is no difference
d)
Mini-nationals have a bigger risk doing business in other countries
8.
Which form of international trade involves letting another company use their trade mark?
a)
Licensing
b)
Importing
c)
Joint Ventures
d)
Contract Manufacturing
9.
Which economic factor would include labor wage policies?
a)
Infrastructure
b)
Taxes
c)
Labor Force
d)
Employee Benefits
10.
Which form of international trade involves partnering companies from different countries?
a)
Joint Ventures
b)
Foreign Direct Investments
c)
Exporting
d)
Importing
11.
Which of the following is a Social-Cultural factor of doing business in another country?
a)
The measurement system of that country
b)
The average amount of income a family earns
c)
The holidays observed in that country
d)
The tax incentive given for doing business with the US
12.
The Egyptian government sets a legal limit on the quantity of cotton that they buy from the United States. What term best describes this? A. Voluntary export restraint
a)
Voluntary export restraint
b)
Tariff
c)
export quota
d)
Import quota
13.
If the U.S. dollar declined in value against the Mexican peso, what would be a result?
a)
The U.S. dollar buys more pesos now than before
b)
The U.S. dollar buys the same amount of pesos as before
c)
The Mexican peso buys fewer U.S. dollars now than before
d)
The U.S. dollar buys fewer pesos now than before
14.
A nation that exports more than it imports maintains a_____________.
a)
balance of trade
b)
trade surplus
c)
trade deficit
d)
lower standard of living
15.
Which of the following are methods that countries use to control their trade with other nations:
a)
quotas, tariffs, and embargoes
b)
A. product standards, admission fees, and licenses
c)
A. tariffs, economic sanctions, and royalties
d)
embargoes, surplus charges, and product standards
16.
Which of the following occurs when a country can produce goods at a relatively more efficient rate than another country?
a)
Absolute advantage
b)
Trade deficit
c)
Comparative advantage
d)
Trade surplus
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