chapter 9

_______ enterprises has resulted in complicated and unpredictable regulatory environments.

(SOEs) state-owned

Levels of economic development

1. More developed 2. Less developed 3. Least developed

The US has _____ trade agreements

5

What accounts for the lion's share of Mercosur exports to Europe?

Agricultural and agro-industrial products.

______ was involved in the formation of the free trade group Mercosur

Argentina

Characteristics of _______ are: physically large, significant populations, regional economic drivers, major political importance within their regions

BEMs

Bahamas is a member of _____.

CARICOM

______ provided only for the elimination of tariffs and other trade barriers between the U.S. and Canada

CFTA

In _____ the literacy rate 100 %

Canada

The three members of the North American Free Trade Agreement (NAFTA) are:

Canada, Mexico, and the U.S.

The success of the Caribbean Free Trade Association led to the creation of the _____.

Caribbean Community and Common Market

During the early growth of many countries, the first large open market was _____.

China

_________ is a member of the Latin American Integration Association (LAIA, aka ALADI)?

Cuba

________ is the comprehensive free trade agreement among Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua, and the United States that includes a wide array of tariff reductions aimed at increasing trade and employment

DR-CAFTA

28 countries are apart of the ______

E.U.

_______ is an economic community of west African states

ECOWAS

________ is a fully industrialized country

Germany

_______ is the differential treatment of member countries according to their level of economic development

LAIA

_______ stands for LAND LOCKED DEVELOPING COUNTRIES

LLDC

_____ is an economy's arbitrator between productive capacity and consumer demand.

Marketing

Which of the following substages best characterizes the United States today with respect to the evolution of the marketing process?

Mass distribution

________ is the substage in the evolution of the marketing process, when the only marketing functions performed are demand creation and physical distribution

Mass production

_____ is a free trade group formed by Argentina, Brazil, Paraguay, and Uruguay.

Mercosur

_____ is an important trade agreement

Mercosur

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

Mercosur

_______ announced that it would seek free trade with the U.S. immediately after the ratification of the United States-Canada Free Trade Area (CFTA)

Mexico

_______ is considered as a big emerging market (BEM)

Mexico

______ is a trade agreement that addresses and improves all aspects of doing business within North America

NAFTA

___________ is the largest common-market agreement in the Americas

NAFTA

Many countries as LDCs are industrializing at a very rapid rate and are more typically refered to as _____

NICs

_______ stand for SMALL ISLAND DEVELOPING COUNTRIES

SIDC

The first substage is ______,with respect to the evolution of the marketing process

Self-sufficient

The ___________ provided the legal basis for Mercosur

Treaty of Asunción

The ____ classifies a country's stage of economic development on the basis of its level of industrialization into three categories and the three categories are MIDCs, LDCs, and LLDCs.

U.N.

Which of the following countries is a part of the free trade area known as CFTA?

U.S.

______ has not been very successful with developing free trade agreements

africa

Alexia is geographically large and represents a sizable market for a wide range of products. It has a potential for significant growth. It is considered as the regional economic driver. Based on this information, Alexia can be classified as a(n) _____.

big emerging market

If a market is characterized as being geographically large, has significant population, is a regional economic driver, and has undertaken significant programs of economic reform, the market is classified as a(n) _____.

big emerging market

Markets that are geographically large, have strong growth rates, are regional economic drivers and represent sizable markets for a wide range of products are known as _____.

big emerging markets

Estimating market potential in less-developed countries involves additional challenges, but most of the difficulty arises from the _____.

coexistence of three distinct kinds of markets in each country

According to the evolution of the marketing process, when the only marketing functions performed are demand creation, physical distribution, and market information analysis, the marketing process is in the _____ substage.

commercial-transition

10 countries are apart of the ________

commonwealth of independent states (CIS)

The transitional sector differs from the modern urban sector in that the transitional sector:

consists of population that moves from the country to the large cities.

CARICOM established the CSME (CARICOM Single Market and Economy) with the goal of a common _____ for all members

currency

Economic planners are most likely to be least concerned with the problems related to _____.

distribution

_______ economies have rapidly changing consumption patterns

dynamic

Extent of social overhead capital is an indicator of _____

economic development

The level of market development roughly parallels the stages of _____.

economic development

________ refers to an increase in national production that is reflected by an increase in the average per capita gross domestic product (GDP) or gross national income (GNI).

economic development

In ________ in an economy like China, some parts very developed other parts underdeveloped

economic dualism

The ________ is considered as the single most important environmental element of a country to which the foreign marketer must adjust the marketing task

economic level

When countries sell off state-owned enterprises, it usually results in a release of capital to invest ______

elsewhere

Big ______ markets are:

emerging

What is happening in big emerging markets (BEMs) today is similar to what happened in ______ after WWII

europe

When the marketing process is characterized by mass distribution, all of the following marketing functions are performed EXCEPT _____.

exchange

More household money goes for _____ in emerging markets than in developed markets.

food

In most developing countries, ______ investors are seen as vital partners in economic development

foreign

DR-CAFTA is a _______ trade agreement

free

Newly industrialized countries (NICs) differ from less-developed countries in that NICs:

have moved away from restrictive trade practices and instituted significant free market reforms.

Paved roads, railroads, seaports, communication networks, and financial networks are illustrations of _____.

infrastructure

The_____ enables smaller firms in emerging economies to sell into a global market

internet

According to the U.N., a country that is industrially underdeveloped, agrarian, has subsistence society with rural populations and extremely low per capita income levels falls under the category of _____ countries.

least-developed

According to the U.N., _____ countries consist of industrially developing countries just entering world trade with relatively low per capita income.

less-developed

The long-term goal of the LAIA (Latin American Integration Association), better known by its Spanish acronym, ALADI, is to improve the _____ levels in member countries

literacy

The marketing process in the U.S between 1885 to 1914 mainly focused on _____.

mass production

Privatization of state-owned enterprises often lead to __________

modernization

According to the U.N.'s , ________ countries have high per capita income

more-developed

Canada is classified under the category of _____.

more-developed countries

Given the fact that NAFTA is now effective among the U.S., Mexico and Canada, an American company which has its production plant in Sri Lanka will be willing to relocate its production plant to Mexico mostly because:

moving goods from Mexico to the United States is cheaper and faster than moving them from Sri Lanka.

5 patterns of ______: Regional cooperation's groups, Free trade area, Custom union, Common market, Political union

multinational cooperations

Chile, Brazil, Mexico, South Korea, Singapore, and Taiwan are _____ countries.

newly industrialized

Chile, Sigapore, Mexico, South Korea, Brazil, Taiwan are countries that are _______ countries

newly industrialized

Characteristics of _______ are: rapid economic expansion/industrialization, per capita incomes, free market reforms, trade/foreign investment politically stable

newly industrialized countries (NICs)

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result these countries have:

obtained significant amount of loans from World Bank

Economic planners are often more _____ oriented than marketing oriented.

production

The U.N.'s classification of stages of economic development has been criticized because it no longer seems _____ in the rapidly industrializing world

relevant

______ is the key provision of NAFTA that restricts Japan from assembling autos in Mexico and avoiding U.S. or Canadian tariffs and quotas, unless the auto had a specific percentage of Mexican content

rules of origin

Having a large market means that economies have ____

scaled

A result of ______ is inflated public-sector bureaucracies

state ownership

Privatization of state-owned enterprises results in the release of capital to invest in _____

strategic areas

A market in which the only marketing function performed is exchange is most like to be classified under the _____ stage.

surplus commodity product

NAFTA required the United States, Canada and Mexico to remove all ________ barriers over 15 years, and beginning in 2008, all tariff barriers were officially dropped.

tariffs and trade

Most newly industrialized countries (NICs) have moved away from restrictive trade practices and instituted significant free market reforms. As a result these countries have attracted both ________ direct investment

trade and foreign