International Business

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Chapter 1:
The shift toward a more integrated and interdependent world economy is referred to as a) economic integration b) economic interdependency c) globalization d) internationalization The correct answer is c. The merging of historically distinct and separate national markets into one huge global marketplace is known as a) global market facilitation b) cross-border trade c) supranational market integration d) the globalization of markets The correct answer is d. Firms that are involved in international business tend to be a) large b) small c) medium-sized d) large, small, and medium-sized The correct answer is d. Which is not a factor of production? a) trade b) land c) capital d) energy The correct answer is a. The sourcing of good and services from around the world to take advantage of national differences in the cost and quality of factors of production is called a) economies of scale b) the globalization of production c) global integration d) global sourcing The correct answer is b. Which organization is responsible for policing the world trading system? a) the International Monetary Fund b) the United Nations c) the World Trade Organization d) the World Bank The correct answer is c. What is the single most important innovation to the globalization of markets and production? a) advances in transportation technology b) the development of the microprocessor c) advances in communication d) the Internet The correct answer is b. Which of the following trends is true? a) the United States is accounting for a greater percentage of world trade than ever before

b) the United States is accounting for a greater percentage of foreign direct investment than ever before c) the share of world trade accounted for by developing countries is rising d) the share of foreign direct investment by developing countries is declining The correct answer is c. Which of these is not a concern of anti-globalization protesters? a) globalization raises consumer income b) globalization contributes to environmental degradation c) globalization is causing a loss of manufacturing jobs in developing countries d) globalization implies a loss of national sovereignty The correct answer is a.

Chapter 2:
A political system that stresses the primacy of collective goals over individual goals is called a) individualism b) collectivism c) a democracy d) a market economy The answer is B. _____ believe(s) that socialism can only be achieved through violent revolution and totalitarian dictatorship. a) communists b) social democrats c) social republicans d) Plato The answer is A. A form of government in which one person or political party exercises complete control over all spheres of human life and prohibits opposing political parties is a) a democracy b) a representative democracy c) totalitarianism d) socialism The answer is C. ______ is found in states where political power is monopolized by a party according to religious principles. a) tribal totalitarianism b) right-wing totalitarianism c) theocratic totalitarianism d) communist totalitarianism The answer is C. In which type of economic system are all productive activities privately owned? a) a mixed economy b) a command economy c) a representative economy d) a market economy The answer is D.

Which type of law is based on tradition, precedent, and custom? a) civil law b) common law c) theocratic law d) contract law The answer is B. Design and names by which merchants or manufacturers designate and differentiate their products are called a) trademarks b) copyrights c) patents d) name brands The answer is A. Which is not a primary determinant of a nation’s rate of economic development? a) its political system b) its economic system c) its geography d) its currency The answer is D.

b) Buddhism c) Hinduism d) Confucianism The answer is c. The most widely spoken language in the world is a) Chinese b) Spanish c) Hindi d) English The answer is d. _______ focuses on how society deals with the fact that...
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