Question 1

BRIC is an acronym for the emerging economies of Brazil, Romania, India and China.

Accepted Answer

The correct acronym for the emerging economies of Brazil, Russia, India, and China is BRIC. Romania is not included in the acronym.

Question 2

The most fundamental question in international business is: What determines the success and failure of a firm's foreign entry?

Accepted Answer

False

Question 3

Which of the following does not create a 'liability of outsidership'?&#10;A)Lack of experience,&#10;B)Being a foreigner,&#10;C)Lack of business networks,&#10;D)Being a native?

Accepted Answer

Being a native does not create a 'liability of outsidership'. The other options, lack of experience, being a foreigner, and lack of business networks, create a sense of being an outsider in certain situations, which can limit opportunities or ability to succeed.

Question 4

What is defined as 'a process leading to greater interdependence and mutual awareness (reflexivity)among economics, political and social units in the world, and among actors in general'?&#10;A)Europeanization,&#10;B)EU Integration,&#10;C)Globalization,&#10;D)International Trade

Accepted Answer

The definition given is a clear description of globalization, which is the process of increasing interconnectedness and interdependence among various economic, political, and social units across the globe. Europeanization refers specifically to the process of European integration, while EU integration refers to the integration and cooperation of European Union member states. International trade, although related, does not capture the full scope of the definition provided.

Question 5

______ refers to 'the world through the lens of their own culture and belief in the superiority of that culture'.&#10;A)Ethnocentric perspective,&#10;B)Not-invented-here syndrome,&#10;C)Best practice,&#10;D)Superior practice

Accepted Answer

Ethnocentric perspective is the belief that one's own culture or ethnic group is superior to others. It leads to the interpretation of the world through the lens of one's own culture and beliefs, resulting in a distorted and biased perspective. This can lead to misunderstandings and conflicts when interacting with people from different cultures.

Question 6

The 'base of the pyramid' refers to which group of people?&#10;A)Citizens of the Southern Hemisphere,&#10;B)People in countries bordering the Mediterranean Sea,&#10;C)People earning less than &#8364;1,500 a year,&#10;D)People earning less than &#8364;2,000 a month?

Accepted Answer

The 'base of the pyramid' refers to people earning less than €1,500 a year. This term is used to describe the largest but poorest socio-economic group in society, who also have limited access to basic goods and services.

Question 7

Purchasing power parity (PPP)is an adjustment made to the GDP to reflect differences in the cost of living.

Accepted Answer

Purchasing power parity adjusts for differences in the cost of living between countries to make GDP comparisons more accurate.

Question 8

_______ refers to 'the identification and assessment of risks and the action taken to minimize the impact of high-risk unfortunate events'.&#10;A)Scenario planning,&#10;B)Risk management,&#10;C)Political risk,&#10;D)Loss accounting

Accepted Answer

The answer of _______ refers to 'the identification and assessment...

Question 9

The two core perspectives of international business are the institution-based view and the environmentalist-based view.

Accepted Answer

The two core perspectives of international business are the institution-based view and the resource-based view.

Question 10

The liability of outsidership is the inherent disadvantage that foreign firms experience in a new environment because of their lack of familiarity with local contexts and networks.

Accepted Answer

The answer of The liability of outsidership is the inherent...

Deck 16: People in the Mne