4280 ch 9

Businesses operate more effectively when they have access to

1. advertising firms. 2. banking services. 3. marketing research companies. 4. warehouses.

Identify a factor that has increased trade among nations.

In developing regions of the world, countries have loosened their trade and investment policies

How has the North American Free Trade Agreement benefited its signatories?

It has attracted foreign investors to all member countries.

Identify a way in which the North American Free Trade Agreement has benefited its signatories.

It has created one of the largest and richest markets in the world.

Identify a true statement about Mercosur.

It has engaged in negotiations with Canada to create a free trade program.

How does marketing affect a nation's economy?

It helps ensure that as the country produces more goods, consumers will want to buy them.

Identify a feature of a dynamic economy.

Emerging markets and shifts in the economy require the attention of marketers.

How are small firms in developing countries affected by the Internet?

It helps them market their products to wealthy consumers. It allows them to sell their products in distant lands. It helps them coordinate their marketing efforts with other small businesses.

How does an increase in the quality of infrastructure impact an economy?

It increases the ability of businesses to be effective.

The second-largest common-market agreement in the Americas is

Mercosur.

Which countries does the Southern Cone Free Trade Area include? (Check all that apply.)

Paraguay Brazil Chile Uruguay Argentina Bolivia

How has technology affected emerging economies? (Check all that apply.)

People all over the world can engage in partnerships and start joint ventures with one another. Mobile phones have allowed people to connect more with one another. The Internet allows students to learn online from teachers across the globe.

Identify a change that takes place in a country when it develops economically.

People have enough money to buy products based on what they want, not just what they need.

How does the economic development of a country affect its population? (Check all that apply.)

People move to different parts of the country. Some people begin to earn more money. People raise their standard of living.

A country named Bordelia has increased its national production and average per capita gross national income. Bordelia is experiencing

economic development.

The objective of the United States-Canada Free Trade Area (CFTA) was to

encourage trade between the two countries, which would boost their economies.

Which factors contribute to the economic growth of newly industrialized countries?

encouragement of self-employment political stability orientation toward exports

Which of the following reflects economic progress in Latin American countries?

encouraging private ownership of businesses

The commercial-transition substage of marketing is primarily oriented toward

entrepreneurial and commercial activities.

One goal of the Caribbean Community and Common Market (CARICOM) is to

establish a common currency for all member countries.

The economic progress in Latin American countries is marked by

governments transferring their enterprises to privately owned companies.

According to the classification system used by the United Nations, newly industrialized countries

have higher per capita incomes than other developing countries.

According to the classification system of the United Nations, the least-developed countries tend to

have underdeveloped industries. depend to a great extent on agriculture.

The Internet affects small firms by

helping them market their products globally.

During economic development a country experiences

increased national production and consumer demand.

As developing countries grow their economies, they are typically also striving to achieve

industrialization. a heightened sense of moral responsibility among the citizens. social equality.

Newly industrialized countries prosper when they trade with nations that have

large markets. low tariffs.

The market metric, the Ease of Doing Business Index, is based on how easy it is to

launch a company. ensure that contracts will be honored. register property.

An industrially developing country called Moonopia has recently begun trading at an international level. How would the United Nations classify Moonopia's stage of economic development?

less-developed

According to the classification system used by the United Nations, the least-developed countries" have

low per capita income levels.

In the Latin American Integration Association (LAIA),

member countries are allowed to enter certain trade agreements with each other.

Promentia is a fully industrialized country with a high per capita income. How would the United Nations classify this country's stage of economic development?

more-developed country

According to the classification system used by the United Nations, some countries experience rapid expansion of targeted industries, but not enough to be considered more developed. These countries are called

newly industrialized.

International trade has grown in recent years because

people around the world are improving their standard of living.

the modern urban/high-income sector

people who belong to an expanding Westernized middle class

the traditional rural sector

people who tend to work in the countryside

the transitional sector

people with low incomes, who live in urban slums

Which sector of the economy is characterized by jet airports, international hotels, and new factories?

urban

In the evolution of the marketing process, which marketing institutions are most likely to exist during the small-scale manufacturing stage?

wholesalers and merchants

Identify a feature of an economy with a static level of economic development.

Consumption patterns don't change much.

Identify the measures that convey the attractiveness of American markets to international marketers. (Check all that apply.)

Do consumers have access to money and other resources? Is it difficult to conduct business there?

How is the development of an economy most likely to affect a country's marketing system?

Each store sells more merchandise than it did previously.

The North American Free Trade Agreement aimed to ultimately establish the

Free Trade Area of the Americas.

Identify the countries that are bound by the Dominican Republic-Central American Free Trade Agreement. (Check all that apply.)

Guatemala El Salvador Costa Rica Dominican Republic Honduras United States Nicaragua

Identify an accurate statement about big emerging markets.

Half of the people in the world live in one.

Identify the factors that created economic chaos in Latin American countries and eventually led to the formation of economic cooperation groups. (Check all that apply.)

Policies were designed to protect the economies of individual countries. Businesses had to comply with too many regulations. Vital industries were owned by governments instead of private companies. Money was owed to other countries.

How is a country's economy affected by improvements to the infrastructure?

The cost of distributing products and services decreases.

Identify an accurate statement about a country in which the income of its citizens is rising.

The middle class begins to buy more expensive items.

Which of the following occurs in a dynamic economy?

The needs of consumers shift constantly, and businesses adjust their marketing strategies accordingly.

Identify a provision of the Latin American Integration Association (LAIA).

The way member countries are treated depends on their economic status.

Identify the accurate statements about big emerging markets. (Check all that apply.)

Their economic success will encourage nearby regions to follow suit. Their economies are being restructured substantially. Their businesses stimulate the economies of neighboring countries.

According to the classification system of the United Nations, which of the following are true of less-developed countries?

They are developing their industries. They are just beginning to trade globally.

When trading with the Middle East and Africa, what advantage does Europe have over Asia and the Americas?

They are part of the same market region, and they share time zones.

Identify the characteristics of big emerging markets

They encompass large regions. They are already expanding rapidly or are likely to do so. They represent an opportunity to sell numerous types of products to a large number of customers.

Identify a feature of big emerging markets.

They include numerous countries, but only a few of those countries are generating most of the economic growth

Identify a true statement about big emerging markets.

They spend a large amount of their income on imported products.

True or false: Because Mercosur has helped improve the economies of its member states, other Latin American countries are forming similar economic cooperation groups.

True

True or false: The Caribbean Community and Common Market (CARICOM) has introduced a common external tariff structure for its member countries.

True

For many of the recently industrialized countries, the first large market that became open to trade was

US

In an underdeveloped country, marketers must

consider how much the market in that country has already been developed.

The objective of the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA) is to

create jobs and encourage commerce

The United States-Canada Free Trade Area (CFTA) succeeded in

creating a single, commercial market for all goods and most services in the two countries.

The mass-production substage of manufacturing is primarily oriented toward

production and finance.

Big emerging markets

purchase many products and services as they improve their infrastructures.

In a newly industrialized country, the economy tends to grow when

raw materials, technology, and funding are available for business purposes.

When crafting a marketing approach for a foreign country, a business should determine the availability of

repair services. marketing research firms. advertising agencies. communications networks. storage facilities.

In the evolution of the marketing process, which marketing institutions are most likely to exist during the agricultural and raw materials stage?

small-scale merchants, traders, and fairs

Capital goods that support the needs of various industries are also known as

social overhead capital. infrastructure.

In the evolution of the marketing process, which marketing institutions are most likely to appear during the marketing stage?

specialized middlemen

Which of the following aimed at creating a free trade area extending from Alaska to Argentina?

the North American Free Trade Agreement

Which trade bloc has engaged in negotiations with the European Union to create the largest free trade area in the world?

the Southern Cone Free Trade Area

The marketing opportunities within a country are most likely to increase when

the level of its economic development increases.

Which substage of the marketing process is primarily oriented toward subsistence?

the self-sufficient stage

One of the most common mistakes among economic planners is

thinking distribution of goods is not as important as the production of them.

To achieve economic growth, developing nations are

transferring state-owned enterprises into private ownership.