MAN3600 Mini Quiz Unit 2/Unit 3/Unit 4
monopolistic advantage
A ________ is one or more resources or capabilities a company possesses that few other firms have. A) comparative advantage B) monopolistic advantage C) factor endowment D) country-specific advantage
national competitive advantage
According to Michael Porter, a nation's factor endowments help determine its ________. A) negative balance of trade B) national competitive advantage C) comparative advantage D) demand conditions
adjusting and adapting to a culture other than one's own
Acculturation is defined as the process of ________. A) segregating ethnic minorities by distinct groups B) adjusting and adapting to a culture other than one's own C) forcing minority cultures to adopt the values of the dominant culture D) learning the behavioral patterns and rules of one's own society
standardization
In the ________ phase of international product life cycle theory, knowledge about how to produce the product is widespread and manufacturing becomes straightforward. A) standardization B) maturity C) introduction D) temporary monopoly
conduct negotiations as efficiently as possible
Low-context cultures tend to ________. A) conduct negotiations as efficiently as possible B) emphasize nonverbal messages C) view communication as a means to promote smooth, harmonious relationships D) prefer an indirect and polite face-saving style of communication
MNCs
MNEs are also known as which of the following? A) MNCs B) Born global business C) Laissez-faire business D) SMEs
keeping an open mind and being inquisitive
Managers can achieve effective cross-cultural interaction by ________. A) resisting cultural homogeneity B) keeping an open mind and being inquisitive C) rushing into conclusions about other's behaviors D) using business jargons to facilitate communication
a recession
Since 1998, the US economy visibly improved its trade deficit only when the economy was in ______________ according to the class materials. A) a boom B) an oil crisis C) trade conflicts D) a recession
both internal and external economies of scale
The New Trade Theory by Paul Krugman emphasizes the concept of ________ in increasing international trade. A) both internal and external economies of scale B) internal economies of scale C) firms' integration of their activities with government policies D) external economies of scale
cultural metaphors
The Spanish bullfight is given in the class materials as an example of __________. A) a symbol of individualism B) cultural metaphors C) masculinity D) a high context culture
represent a person's judgments about what is good or bad, acceptable or unacceptable, important or unimportant, and normal or abnormal
Values in a culture ________. A) represent the symbolic, material, and creative productions unique to a society B) are rigidly held attitudes, usually unfavorable and usually aimed at particular groups of people C) are similar to opinions but are often unconsciously held and may not have a rational basis D) represent a person's judgments about what is good or bad, acceptable or unacceptable, important or unimportant, and normal or abnormal
Singapore
Which of the following countries has the most foreign reserves per capita? A) Singapore B) Hong Kong C) United States D) China E) Germany
United States
Which of the following countries hosts the greatest number of MNEs? A) United States B) Japan C) U.K. D) Germany E) China
Ireland
Which of the following countries is the leading nation in the international services trade as % of GDP? A) Ireland B) Singapore C) United States D) United Kingdom
relative efficiency of production
Which of the following is an element of the comparative advantage principle? A) per unit cost advantage B) absolute cost of production C) relative efficiency of production D) negative balance of trade
Language has both verbal and nonverbal characteristics
Which of the following is true about language? A) Language has both verbal and nonverbal characteristics B) Business jargons are common across cultures C) National languages, dialects, and translation facilitate straightforward communication D) Language does not entail facial expressions and gestures
It captures how the members of the society live
Which of the following is true with regard to culture? A) It is inherited B) It is absolute C) It captures how the members of the society live D) It does not define the collective behavior of each society
uncertainty avoidance
Which of the following refers to the extent to which people can tolerate risk in their lives? A) long-term versus short-term orientation B) individualism C) power distance D) uncertainty avoidance
Technological risk
Which of the following types of risk is NOT presented in the course as a risk associated with international business? A) Technological risk B) Cross-cultural risk C) Commercial risk D) Currency risk
that the U.S. often exported labor-intensive goods and imported more capital-intensive goods
Which of the following was the analysis revealed by the "Leontief paradox"? A) that international trade was simpler than perceived B) that despite having an abundant pool of labor, the U.S. was exporting capital-intensive goods C) that contrary to the popular belief, new products are more likely to originate in developing economies D) that the U.S. often exported labor-intensive goods and imported more capital-intensive goods
International investment
________ refers to the transfer of assets to another country or the acquisition of assets in that country. A) International investment B) International trade C) Importing D) Exporting
Mercantilism
__________ is the belief that national prosperity is the result of a positive balance of trade, achieved by maximizing exports and minimizing imports. A) Imperialism B) Mercantilism C) Communism D) Positivism
Comparative advantage
__________ refers to the superior features of a country that provide unique benefits in global competition, typically derived from either natural endowments or deliberate national policies. A) Industrial cluster B) Absolute advantage C) Competitive advantage D) Comparative advantage
