Question 1

____________________ 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 refers to the import and export of goods and services between a country and other countries around the world. It involves determining what goods and services to trade, negotiating terms of trade, establishing payment arrangements, and ensuring that the trade complies with applicable laws and regulations.

Question 2

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

The term "per capita income of $20,000 and above" indicates a certain level of economic affluence, which in turn implies a relatively high level of purchasing power. Therefore, choice C, purchasing power, is the best answer. Physical power (A) and psychological power (E) are not relevant to the context of the consumption process. While political power (B) may be a factor in certain situations, it is not necessarily tied to income level and is not the best answer in this case. Consumption power (D) is not a commonly used term and does not accurately describe the situation.

Question 3

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

Accepted Answer

The textbook specifically mentions "local cultures" as being liberated from the constraints of nationalism through globalization. This can be seen as local cultures are able to interact with others across borders and share their unique traditions and practices with a global audience.

Question 4

Marketing includes the entire company's:
A) quality orientation.
B) market orientation.
C) cost orientation.
D) production orientation.
E) demand orientation.

Accepted Answer

Marketing is a customer-oriented approach that focuses on meeting the wants and needs of the target market. A market orientation is necessary for a company to be successful in identifying and satisfying customers' needs. Quality, cost, production, and demand orientation are important factors of a company's overall strategy, but they do not encompass the entire approach of marketing.

Question 5

In global business, products have been traded across borders throughout recorded civilizations, extending back beyond the ________________ that once connected East with West.
A) The Marco Polo Road
B) The Roman Road
C) The Pioneer Road
D) The International Road
E) The Silk Road

Accepted Answer

The Silk Road was a network of trade routes that connected the East and West, facilitating the exchange of goods, ideas, and technologies between different civilizations. It was a significant factor in the development of the ancient world, and its influence can still be seen in modern global trade.

Question 6

Toyota's new strategy is to de-Japanize its business and make the ________ market its major corporate priority.
A) U.S.
B) Germany
C) England
D) Indonesia
E) none of the above

Accepted Answer

Toyota has announced plans to shift its focus to the U.S. market and "bring decision-making and resources closer to the regions where its customers live." This includes investing $13 billion in its U.S. operations over the next five years and building a new plant in Alabama to produce the Toyota Corolla. Additionally, Toyota aims to increase its use of localized parts and boost sales of trucks and SUVs in the U.S. market.

Question 7

B2B stands for:
A) bubble-to-business
B) business-to-business
C) buyer-to-business
D) best-to-business
E) Best Buy-to-business

Accepted Answer

B2B stands for business-to-business, which refers to transactions or interactions between two businesses or organizations rather than between a business and individual consumers (B2C).

Question 8

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

Accepted Answer

The answer of _____________________ consists of exports and imports between...

Question 9

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 tend to spend most of their income on meeting their basic needs such as food, shelter, and clothing. Therefore, Option A (food and other necessities) is the best choice for this scenario. Option B (higher education) and Option E (foreign travel) are unlikely because they require more disposable income, whereas Option C (electronic appliances) and Option D (buying houses) may be more relevant for higher income levels.

Question 10

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

In today's global market, international trade and foreign production are increasingly managed on a global basis. This means that businesses are integrating their operations globally, rather than managing them through separate regional or local structures. This allows companies to take advantage of economies of scale and leverage their expertise and resources across different markets. It also enables them to respond more effectively to global market trends and customer needs, while reducing duplication and inefficiencies.

Question 11

Although it is not widely known, foreign production constitutes a much larger portion of international business than __________________________________.
A) international trade
B) regional business
C) local business
D) domestic business
E) transnational business

Accepted Answer

Foreign production, which includes activities like manufacturing and assembly in other countries, often surpasses international trade in scale and impact, as it involves direct investment and operations in foreign markets.

Question 12

Saturation of domestic markets in the industrialized parts of the world has forced many companies to look for marketing opportunities beyond their _______________.
A) local borders.
B) national borders.
C) regional borders.
D) Complex borders.
E) transnational borders.

Accepted Answer

Saturation of domestic markets has forced companies to look for marketing opportunities beyond their national borders.

Question 13

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

Accepted Answer

Intrafirm trade refers to the exchange of goods or services between different divisions or subsidiaries of the same multinational company. This allows MNCs to have more control over their international trade transactions and can lead to increased efficiency and reduced costs.

Question 14

The Silk Road once helped connect:
A) Turkey to Rome.
B) Iran to Rome.
C) Bombay to Rome.
D) Beijing to Rome.
E) Xian to Rome.

Accepted Answer

The Silk Road was an ancient network of trade routes that connected the East and West, and Xian (historically known as Chang'an) was one of the eastern starting points, linking to Rome in the west.

Question 15

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

Accepted Answer

Competitors at home can put pressure on a company to expand globally in order to stay competitive. As the home market becomes more saturated, companies may look to other markets for growth and opportunities. Conglomerates, groups, locals and regionals may also be sources of competitive pressure, but not typically specified as the primary source of pressure in global marketing.

Question 16

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 used to describe the extensive international penetration of companies is "global reach." Option A and B refer to a limited geographical scope, while options C and D describe other aspects of a company's influence that are not directly related to its international presence.

Question 17

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 refers to the expansion of market opportunities due to the increased competition and interconnectedness of economies worldwide. This is because companies now have access to customers and resources from all over the world, allowing them to expand their markets and pursue new business opportunities. Therefore, the best choice is D, market opportunities.

Question 18

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

The text states that "today, two-thirds of all world trade is managed by MNCs."

Question 19

_____________ is essentially a creative corporate activity involving the planning and execution of the conception, pricing, promotion, and distribution of ideas, products,
And services in an exchange that not only satisfy customers' present needs but also
Anticipates and creates their future needs at a profit.
A) Selling
B) Sourcing
C) Manufacturing
D) Human resources
E) Marketing

Accepted Answer

The definition provided fits the concept of marketing, which involves various activities such as planning, pricing, promoting, and distributing products or services to meet customers' existing and future needs at a profit. Selling, sourcing, manufacturing, and human resources are important business functions, but they do not encompass all the activities that marketing involves.

Question 20

____________ revolution has brought profound changes in the world.
A) Wal-Mart
B) CNN
C) MTV
D) Internet
E) Shipping

Accepted Answer

The internet revolution has brought about significant changes in the world, including the way we communicate, work, shop, and access information. It has transformed many industries and facilitated globalization.

Quiz 1: Globalization Imperative

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

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

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

Marketing includes the entire company's:

In global business, products have been traded across borders throughout recorded civilizations, extending back beyond the ________________ that once connected East with West.

Toyota's new strategy is to de-Japanize its business and make the ________ market its major corporate priority.

B2B stands for:

_____________________ consists of exports and imports between a country and the rest of the world and foreign production.

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

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

Although it is not widely known, foreign production constitutes a much larger portion of international business than __________________________________.

Saturation of domestic markets in the industrialized parts of the world has forced many companies to look for marketing opportunities beyond their _______________.

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

The Silk Road once helped connect:

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

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

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.

____________ revolution has brought profound changes in the world.