BUISNESS CHEAT SHEET

if a wholesaler purchases laundry detergent at $2.00 per bottle and decides to set the markup percentage at 27 percent, what will the wholesaler's profit be per bottle?

$0.54

a wholesaler purchases desk lamps at a price of $10. they set the markup percentage as 25 percent. how much should the wholesaler sell the lamps to a retailer?

$12.50

sam wants to markup percentage on the shirts he is selling to be 19 percent. if the shirts cost sam $13 each, how much should he charge customers for each shirt?

$15.47

a beauty supply wholesaler had an average inventory of $1,500,000 and the cost of goods sold was $4,500,000. what is the inventory turnover?

3.00

free trade is NOT enacted by which of the following groups?

PETA

which of the following is an example of an accessory store?

a shoe store

what is a niche market

a specialized area of sales targeting a specific group rather than the mass

which of the following statements describes intermediary?

a third party acting as a middleman connecting people and things

which of the following is an example of a distance retailer which does NOT have a physical location?

amazon.com

which of the following factors influence exchange rate?

an active war

which of the following is true of a non-franchised chain?

are owned by the company and run by a manager hired by the parent company

the ability to speak two or more languages in which of the following terms?

bilingualism

which one of the following countries is NOT a member of the free trade agreement?

brazil

indirect exporting is NOT utilized through which of the following channels?

contributors

which of the following is an effect of the control and regulation of global businesses?

controlled markets

which of the following is the formula used to calculate inventory turnover?

cost of goods sold / average inventory

which of the following is NOT an example of distance retailing?

door-to-door retailing

when mexico and the united states agreed to reduce and eliminate trade barriers, countries demonstrated which of the following terms?

economic integration

when a country is a member to this level of economic integration, the countries involved have a common currency and similar tax rates. which type of economic integration does this demonstrate?

economic union

how often does the foreign exchange take place

every day

direct marketing channels use intermediaries such as wholesalers and retailers

false

the matching phase consists of conducting market research to find potential customers

false

which of the following is NOT a type of foreign aid?

food stamps abroad

foreign officials are protected from bribery to obtain a business by which of the following laws?

foreign corrupt practices act

which of the following is NOT considered a debt item in the balance of trade?

foreign spending in the domestic economy

the ability to compete and participate in the global market is which of the following terms?

global linkage

international law in global business does NOT include which of the following purposes?

governing business meetings

which of the following is NOT an entry strategy when initiation global business

indirect investment

which of the following terms descries retail>

individually selling products directly to the customer

when considered low, the economy shows a rising currency value. which of the following terms describes this occurrence?

inflation

which of the following attributes is a future employer NOT looking for in an international employee?

inflexibility

which of the following best describes wholesalers?

intermediaries between manufacturers and customers

the costs of maintaining inventory in a company's warehouse are referred to as which of the following?

inventory carrying costs

an agreement where one company makes an asset available to another company in exchange for compensation is considered which of the following?

licensing

which of the following is NOT true of studying abroad

local job opportunities become nonexistent

which of the following is an example of party retailing?

mary-kay cosmetics

which of the following is NOT true of working abroad?

network few foreign contacts

which agreement focuses on tariffs related to agriculture, textiles and automobiles?

north american free trade agreement

how has technology affected by the international job market?

occupations made obsolete by technology

which of the following is NOT an example of street markets?

online retailers

if an investor purchases a few shares of Mc Donald's stock, but gain no direct involvement with the company, which kind of investment are they portraying?

portfolio investment

rebecca need to sell her store's remaining stock of coats and gloves, so she holds a one-day blowout sale and tells customers to "get it before is is gone." what type of strategy is rebecca using?

pull strategy

which of the following strategies tries to create an increased demand by making customers feel like they only have a short time to purchase the products?

pull strategy

which of the following strategies is used by companies to convince retailers to promote their product over a competitor's products?

push strategy

which of the following statements best describes negotiation?

reaching an agreement with retailers on the price of products

entering into global business in the U.S includes which of the following advantages?

reduced dependence on U.S market

which of the following is NOT included in the economic rights of global copyright?

right of integrity

which of the following is NOT one of the functions of a wholesaler in the distribution channel?

selling products to customers in a store

which of the following is NOT an example of inventory carrying costs?

shipping costs

when implementing economic integration, which of the following is NOT a problem one may encounter

single objectives

which of the following is NOT an influence of the global job market?

supply and demand

which of the following terms describes wholesale?

the sale of products in bulk directly from the manufacturer

which of the following is the "ideal" inventory turnover number?

there is no "ideal" number applying to all companies

when a company transports funds, goods, or information outside their production process, they are carrying out which of the following functions?

trades

cross-docking is the re-routing of inventory through a warehouse

true

the four main parties in a distribution channel are manufacturers, wholesalers, retailers and consumers.

true

which of the following retail outlets often sell in bulk?

warehouse clubs

in which of the following situations should the cross-docking technique NOT be used?

when products need to be stored in the warehouse for a long time

which of the following does specialization Not improve?

worker satisfaction

the general agreement on tariffs and trade was created after the end of which american-involved war?

world war II