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Exam 3: Competing in Global Markets

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Question 51

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Global trade includes the exchange of goods and services across national borders.

A) True
B) False

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Question 52

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Of the strategies available to reach global markets,licensing offers the firm the greatest opportunity for profit potential.

A) True
B) False

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Question 53

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Global efforts to fight corruption have had limited success.

Describe four different strategies for reaching global markets.

Canada,as of 2014,enjoys a trade surplus in the global market.

The balance of payments measures the inflows and outflows of money from tourism,foreign aid,military expenditures and foreign investments as well as flows resulting from exports and imports.

A favourable balance of trade is also known as a trade surplus.

Which of the following government policies creates an environment of restrictive standards intended to make it difficult for foreign firms to successfully sell their products?

What is it called when more money is flowing out of a country than flowing into it?

The main goal of the General Agreement on Tariffs and Trade (GATT)was to establish a free trade area among the nations of North America.

The theory of absolute advantage explains most of today's global trade.

Canada has a comparative advantage in coffee and shoes.

The outlook for growth in global trade in the future will likely focus on:

Countries often use trade protectionism measures to protect their domestic industries from foreign competition.

are specialists that match buyers and sellers from different countries and provide services to ease the process of entering global markets.

The fee paid to a firm in a licensing agreement that gives another firm the right to manufacture their product or use its trademark is called:

When Nestle,a Swiss company,purchased Carnation,a U.S.company,it resulted in Carnation becoming a foreign licensee.

When Steam Whistle Breweries of Toronto sells beer to Germany,the sales of its product would be classified as a Canadian ____________

ExxonMobil Corporation refines and markets its petroleum products in different nations.In addition,Exxon's stockholders and managers come from different nations.ExxonMobil is an example of a true:

Countries enjoying high growth rates and rapid increases in living standards are known as emerging economies.