Question 1

Which of the following are true?
A)The convergence of consumer needs at the macro level necessarily means that individual consumers will adopt all products from around the world.
B)The mutual convergence and divergence of consumer needs means that U.S.companies are automatically at an advantage.
C)The divergence of consumer needs and cultural preferences exists at the same time, and it is becoming more difficult to pinpoint consumers' preferences in any local market around the world.
D)The divergence of consumer needs and cultural preferences exists at the same time, and it is becoming easier to pinpoint consumers' preferences in any local market around the world.

Accepted Answer

C is correct because it acknowledges the complexity of global markets, where both convergence and divergence of consumer needs and cultural preferences occur simultaneously, making it challenging to identify specific consumer preferences in local markets. This reflects the reality of global consumer behavior, where global trends coexist with strong local preferences.

Question 2

This happened in 1994.
A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Accepted Answer

The answer of This happened in 1994.
A)Establishment of the European...

Question 3

Which of these factors influenced European companies' specialized, premium product strategy (prior to the formation of the EU):
A)fragmented markets
B)heterogeneous markets
C)differentiated markets
D)myriad laws
E)all of the above

Accepted Answer

All of the listed factors influenced European companies' strategy towards specialized, premium products. Fragmented, heterogeneous, and differentiated markets, along with myriad laws, made it difficult for companies to achieve economies of scale, pushing them towards focusing on higher-margin, specialized products.

Question 4

In 2007, EU member states came to an agreement, known as
A)the Lisbon Treaty
B)the Brussels Treaty
C)the EU Constitution
D)The EU Treaty

Accepted Answer

In 2007, EU member states agreed on the Lisbon Treaty, which aimed to enhance the efficiency and democratic legitimacy of the Union and to improve the coherence of its action.

Question 5

In 2018, which country had the largest number of large companies based there?
A)China
B)Japan
C)Germany
D)United States
E)Britain

Accepted Answer

In 2018, the United States had the largest number of large companies based there, reflecting its status as a leading global economic powerhouse with a conducive environment for business growth and innovation.

Question 6

The extensive international penetration of U.S.and other companies has been referred to as ____________________.
A)local reach
B)regional reach
C)political reach
D)social reach
E)global reach

Accepted Answer

The term "global reach" refers to the extensive international penetration of U.S. and other companies, indicating their widespread influence and operations across the globe.

Question 7

In the consumption process, people around the world with per capita income of $20,000 and above have a pretty good _________________.
A)physical power
B)political power
C)purchasing power
D)consumption power
E)psychological power

Accepted Answer

People with a per capita income of $20,000 and above generally have a good purchasing power, meaning they can afford to buy goods and services relatively easily.

Question 8

This happened in 2015.
A)Establishment of the European Union (EU)
B)The Trans-Pacific Partnership Agreement
C)The North American Free Trade Agreement (NAFTA)
D)The demise of the Soviet Union

Accepted Answer

The Trans-Pacific Partnership Agreement (TPP) was signed in 2015, aiming to deepen economic ties between these nations, slashing tariffs and fostering trade to boost growth. The other events listed occurred in different years: the EU was established in 1993, NAFTA in 1994, and the Soviet Union dissolved in 1991.

Question 9

FDI stands for:
A)Firm Development Investment
B)Foreign Development Internationalization
C)Foreign Direct Investment
D)Firm Development Investment.

Accepted Answer

The answer of FDI stands for:
A)Firm Development Investment
B)Foreign Development Internationalization
C)Foreign...

Question 10

According to the textbook, the process of globalization does not suffocate _________________, but rather liberates them from the ideological conformity of nationalism.
A)global cultures
B)regional cultures
C)Asian cultures
D)dynamic cultures
E)local cultures

Accepted Answer

Globalization is often seen as a force that allows local cultures to express themselves more freely by providing them with a platform to reach a wider audience, rather than being confined by nationalistic ideologies.

Question 11

In global marketing, competitive pressure can also come from _____________ at home.
A)competitors
B)conglomerates
C)groups
D)locals
E)regionals

Accepted Answer

Competitive pressure in global marketing can come from competitors at home who may have a strong presence or influence in the domestic market.

Question 12

In today's global marketing, international trade and foreign production are increasingly managed on a __________________.
A)vertical basis
B)horizontal basis
C)global basis
D)regional basis
E)local basis

Accepted Answer

International trade and foreign production are increasingly managed on a global basis, reflecting the interconnectedness and integration of economies and markets around the world.

Question 13

Multinational companies (MNCs) are increasingly managing the international trade flow within themselves.This phenomenon is called _________________.
A)intra-firm trade
B)interfirm trade
C)bi-national trade
D)poly-national
E)geo-national

Accepted Answer

Intra-firm trade refers to the exchange of goods and services across different branches of the same multinational company in different countries. This is a common practice among MNCs to optimize resources, reduce costs, and manage global supply chains more efficiently.

Question 14

____________________ consists of exports and imports between a country and the rest of the world.
A)Regional reach
B)Competition
C)International trade
D)International business
E)Regional investment

Accepted Answer

International trade specifically refers to the exchange of goods and services across international borders, encompassing both exports and imports between a country and other countries around the world.

Question 15

In 2018, which country had the second largest number of large companies based there?
A)China
B)Japan
C)Germany
D)United States
E)Britain

Accepted Answer

In 2018, China had the second largest number of large companies, following the United States.

Question 16

In order to reduce U.S.trade deficits, the U.S.government under the Trump Administration did what?
A)Raised income taxes on firms headquartered in China
B)Bared China from exporting high profit goods to the US
C)Imposed a series of tariffs
D)Started a trade war
E)All of the above

Accepted Answer

The Trump Administration imposed a series of tariffs on Chinese goods as part of its strategy to reduce the U.S. trade deficit with China.

Question 17

When a country's per capita income is below $10,000, consumers spend most of their income on:
A)food and other necessities.
B)higher education.
C)electronic appliances.
D)buying houses.
E)foreign travel.

Accepted Answer

When a country's per capita income is below $10,000, consumers prioritize spending on essential needs such as food, due to limited financial resources.

Question 18

____________________includes international trade and foreign production..
A)Regional reach
B)Competition
C)International trade
D)International business
E)Regional investment

Accepted Answer

International business encompasses all commercial activities that take place to promote the transfer of goods, services, resources, people, ideas, and technologies across national borders. This includes not only international trade but also foreign production, making it the correct choice.

Question 19

The term global epitomizes both the competitive pressure and expanding:
A)basic opportunities.
B)social opportunities.
C)physical opportunities
D)market opportunities.
E)bottom opportunities.

Accepted Answer

The term "global" epitomizes the expanding market opportunities, as it refers to the broadening of markets and competitive landscapes on a worldwide scale, allowing businesses to reach new customers and engage in international trade more effectively.

Question 20

According to the text, ____________________ of the world trade is managed one way or another by MNCs.
A)one-third
B)two-thirds
C)one-fourths
D)two-fourths
E)three-fourths

Accepted Answer

Two-thirds of the world trade is managed by multinational corporations (MNCs).

Quiz 1: Globalization Imperative

Which of the following are true?

This happened in 1994.

Which of these factors influenced European companies' specialized, premium product strategy (prior to the formation of the EU) :

In 2007, EU member states came to an agreement, known as

In 2018, which country had the largest number of large companies based there?

The extensive international penetration of U.S.and other companies has been referred to as ____________________.

In the consumption process, people around the world with per capita income of $20,000 and above have a pretty good _________________.

This happened in 2015.

FDI stands for:

According to the textbook, the process of globalization does not suffocate _________________, but rather liberates them from the ideological conformity of nationalism.

In global marketing, competitive pressure can also come from _____________ at home.

In today's global marketing, international trade and foreign production are increasingly managed on a __________________.

Multinational companies (MNCs) are increasingly managing the international trade flow within themselves.This phenomenon is called _________________.

____________________ consists of exports and imports between a country and the rest of the world.

In 2018, which country had the second largest number of large companies based there?

In order to reduce U.S.trade deficits, the U.S.government under the Trump Administration did what?

When a country's per capita income is below $10,000, consumers spend most of their income on:

____________________includes international trade and foreign production..

The term global epitomizes both the competitive pressure and expanding:

According to the text, ____________________ of the world trade is managed one way or another by MNCs.