International business quiz 8 (ch13) quiz 9 (ch17)

At Six Sigma, a production process would be highly accurate and create just _____.

3.4 defects per million units

_______ is a reciprocal buying agreement and occurs when a firm agrees to buy a certain amount of materials back from a country to which a sale is made

Counter purchase

Which of the following is a common difficulty that traders face one exporting goods or services to other countries?

Exporters often face voluminous paperwork, and complex formalities

Before firm is allowed access to the European market Place, the European Union requires that the quality of the firms manufacturing processes and products be a certified under a quality, standard known as______

ISO 9000

An advantage of engaging in in-house production of products and components is that______

It enables a firm to protect the proprietary technologies that it has

Which of the following is a major advantage of using letter of credit?

It helps international traders engage in trade with trust.

Central to the concert, set of economies of scale is the idea that the best way to achieve high-efficiency, and hence low unit cost is through the ________

Mass production of standardize output

In the ______ program, organized by the US Department of commerce department representative, accompany group of US business people abroad to meet with qualified agents, distributors and customers.

Matchmaker

A_______ is payable on presentation to drawee

Sight draft

Japan's great trading houses are called________

Soho shosha

The major cost saving associated with JIT systems comes from_______

Speeding up inventory turnover's

Decentralization of production is appropriate_____

Volatility in key exchange rate is expected

Make or buy decisions are decisions about ______

Whether or not to outsource value creation activities

_________ is the direct exchange of goods and/or services between two parties without a cash transaction and is the simplest arrangement

barter

The idea that valuable knowledge does not reside just in a firm's domestic operations but can also be found in its foreign subsidiaries is called _____.

global learning

As a receipt, the bill of lading indicates that the carrier _______

has obtained the merchandise described on the face of the document

A draft used in international transactions _______.

is a document requesting payment

When a company's product has a low value-to-weight ratio, the company should _____.

produce the product in multiple locations close to major markets

Export-Import Bank _______.

provides finance to facilitate trade between United States and other countries

Logistics is the activity that controls the _____.

transmission of physical materials through the value chain