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International Business BUS 401
Assist. Prof. Senem Göl
Review: Chapters 1, 2, 3 and 4
 All commercial transactions between two or more countries are
known as _____.
 international business
 globalization
 the balance of payments
 multinational operations
 Which of the following is one of the major factors causing the
recent growth in international business?
 stricter border controls on illegal immigration
 increases in mergers and acquisitions
 improvements in governmental records of international
 development of institutions to support and facilitate trade
 Critics contend that a downside of globalization is that it causes
 a slowing of economic growth
 tax collections to decrease
 nations to become more independent of each other
 an increase in the use of non-renewable resources
 Which of the following is a major operating objective that may
induce companies to engage in international business?
 to operate in more familiar environments
 to acquire resources
 to deal with concerns outside the confines of any country
to price more flexibly
 Which of the following is a service export for Turkey?
a Japanese tourist's visit to Turkey
a Turkish tourist's visit to Indonesia
the purchase in the U.K. of Turkish wool
a Turk’s travel abroad on a U.S. airline
 A multinational enterprise (MNE) is a company with _____.
operations in at least five different countries
a global approach to foreign markets and production
a sanctioned registration by the United Nations
a listing among the world's thousand largest companies
 An MNE - a company with operations in more than one country -
may be synonymous with all of the following EXCEPT:
 a company that has a worldwide approach to markets
and promotions
 a FDI (Foreign Direct Investment)
 a MNC
 a TNC
 Critics claim that globalization has caused more income
 True
 False
 The ownership of a foreign bond is an example of a portfolio
 True
 False
 Today, global events affect almost all companies, large or
 True
 False
 _____ consists of specific learned norms based on attitudes,
values, and beliefs.
 Religious affiliation
 Culture
 Morality
 Which of the following is an example of an affiliation, which is an
acquired rather than ascribed group membership?
 family
 age
 political affiliation
 ethnicity
 In a country where power distance is high, which would
probably be the most effective way to manage?
 As a boss, you give orders rather than asking subordinates
for advice.
 The CEO should talk to people at different organizational
levels before making major decisions.
 The CEO should not talk to people at different organizational
levels before making major decisions.
 As a boss, you should delegate most decision making to
teams of subordinates.
 A work related value dimension is best identified by the extent to
which the primary focus is on assertive acquisition of money,
heroism and power versus the quality of life, nurturing and one’s
interpersonal relationships.
 individualism-collectivism
 masculinity-femininity
 uncertainty avoidance
 power distance
 In which of the following cultures are workers most likely to
prefer to work for their existing organizations for a long time,
rather than seeking advancement opportunities elsewhere?
 high power distance cultures
 high context cultures
 high collectivist cultures
 high uncertainty avoidance cultures
 In a low context culture, there is a tendency for people to
 engage in a lot of preliminary communications before
discussing business
 Do not engage in a lot of preliminary communications before
discussing business
 Under which of the following attitudes would organizational
control most likely be decentralized so that managers in the
foreign locale would make most decisions?
 polycentric
 ethnocentric
 geocentric
 pragmatic
 A culture where people prefer to work sequentially (e.g. people
prefer to finish with one customer before dealing with another) is
a low context culture.
 True
 False
 Although written and spoken languages differ, gestures
are universal.
 The term __________ refers to a political system that stresses
the primacy of the individual goals over collective goals.
 individualism
 collectivism
 democracy
 Totalitarianism
 Nationalization, restrictions on the repatriation of profits and
differing points of view are the examples of political risk.
 true
 false
 __________ is the form of government in which one person or
political part exercises absolute control, whereas __________
refers to a political system in which government is by the
people, exercised either directly or through elected
 totalitarianism, democracy
 socialism, democracy
 democracy, totalitarianism
 individualism, collectivism
 Which of the following restrictions is inconsistent with a
totalitarian state?
 regulated access to information
 a court system that is supervised by the political system
 citizens' freedom to speak their minds
 a powerful security force
 A creation of the mind that has commercial value, including
copyrighted property such as literary or artistic works, is referred
to as __________.
 intellectual property
 intangible possession
 exclusive ownership
 creative input
Political systems can be assessed in terms of two related dimensions. The first
is the degree to which they emphasize collectivism versus totalitarianism. The
second dimension is the degree to which they are democratic versus
 True
 False
Democracy and totalitarianism are on the same end of the political spectrum.
 True
 False
In a totalitarian state, a single party, individual, or group of individuals control
political power.
 True
 False
Political risk is the chance that political decisions, events, or conditions in a
country lead to a lower than projected rate of return for a company's
 True
 False
 A system of law based on a general set of codes is commonly
referred to as a(n) __________.
 common law system
 autocratic legal system
 civil law system
 administrative law system
 The protection of intellectual property rights is quite similar from
country to country.
 True
 False
 Per capita GNI is determined by____ the size of GNI of a
country by its total population.
 Multiplying
 Adding
 Dividing
 subtracting
 Technically, the _______ index is the number of units of a
country's currency required to buy the same amounts of goods
and services in the domestic market that one unit of income
would buy in the other country.
 HD
 The Human Development Index is ________.
associated with the growing wave of democratic revolutions
occurring in countries worldwide
believed to create greater incentives for innovation than
simply monetary goals for individuals
often regarded as a yardstick for the economic activity of a
a measure of the average achievements in a country in
terms of longevity, knowledge, and standard of living
 The three broad types of economic systems are: __________ .
 market economy, collective economy, production economy
 market economy, command economy, mixed economy
 individualist economy, mixed economy, and state-directed economy
 market economy, hybrid economy, and command economy
 In a __________ economy, the government retains significant
ownership in certain sectors yet lets private ownership and free
market mechanisms prevail in other sectors of the market.
 authoritarian
 market
 mixed
 command
 Some countries opt for a mixed economic system in the belief
that while an economic system should aspire to achieve the
efficiencies endemic to free markets, it must also apply the
policies needed to:________________ .
 maintain poverty rates
 equitably distribute wealth
 stabilize high unemployment
 promote rapid economic growth
 A country's gross national product is the value of all production
that takes place within a country's borders.
 True
 False
 Movement to a market-based economic system entails a
number of steps, including deregulation, the establishment of
private enterprise, and privatization of state-owned assets.
 True
 False
 The term protectionism, when applied to international trade,
refers to governmental restrictions and incentives to affect trade
 True
 False
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