International Business - Wild Solution Manual - Chapter 5 PDF

Preview

Summary

Download International Business - Wild Solution Manual - Chapter 5 PDF

Description

More

[email protected]

Dashboard

Sign Out

International Business 2017 and Incoterms 2010 Guides, Quiz and Case Studies International Business 2017 and Incoterms 2010 Guides, Free Ebooks, Videos, Quiz and Case Study Guides

WEDNESDAY, FEBRUARY 15, 2017

SEARCH THIS BLOG

Search

Incoterms 2010 and International Business - Wild - Chapter 5 - QUIZ Incoterms 2010 and International Business - 101

BLOG ARCHIVE

▼ 2017 (74) Incoterms 2010 and International Business - Wild - Chapter 5 - QUIZ

Incoterms 2010 and International Business - 101

▼ February (74) Marketing 2016 - Case Study Marketing Management...

International Business: The Challenges of Globalization, 8th Edition, Wild & Wild

MBA Strategic Management - Case Study Guides - 201...

Incoterms 2010 and International Business - Wild - Chapter 5 - QUIZ

MBA Strategic Management - Case Study Guides - 201...

------

Incoterms 2010 - Guides - FAS Incoterms 2010 - Guides - DDP Incoterms 2010 - Guides - DAP

International Business, 8e (Wild/Wild)

Incoterms 2010 - Guides - DAT

Chapter 5 International Trade Theory

Incoterms 2010 - Guides - CIP Incoterms 2010 - Guides - CPT Incoterms 2010 - Guides - FCA

1) ________ refers to the purchase, sale, or exchange of goods and services across national borders.

1. A) Domestic trade

Incoterms 2010 - Guides - EXW Incoterms 2010 and International Business - Wild -...

2. B) Foreign direct investment

Incoterms 2010 - Guides - CIF

3. C) International trade

Incoterms 2010 and International Business - 101 - ...

4. D) Mercantilism Answer: C

Incoterms 2010 and International Business - 101 - ...

Skill: Concept Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade.

Incoterms 2010 and International Business - 101 - ... Incoterms 2010 - Guides - Reviews Incoterms 2010 - Guides - Overview Incoterms 2010 - Guides Introductions

2) The importance of trade for a nation can be measured by ________.

1. A) examining the amount of wealth acquired by the national government through restrictive trade policies

2. B) the living standards of people involved in only trade activities 3. C) the number of acquired territories the nation has that serves as sources of inexpensive raw materials

4. D) examining the volume of its trade relative to its total output

Incoterms 2010 - Guides - CFR Incoterms 2010 - Guides - FOB Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

Answer: D

Incoterms 2010 and International Business - Wild -...

AACSB: Application of knowledge

Incoterms 2010 and International Business - Wild -...

Skill: Concept Difficulty: Moderate LO: 5.1: Describe the benefits, volume, and patterns of international trade.

Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

3) Most of the world merchandise trade is composed of trade in ________.

1. A) minerals 2. B) services 3. C) manufactured goods 4. D) agricultural products

Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

Answer: C

Incoterms 2010 and International Business - Wild -...

AACSB: Application of knowledge

Incoterms 2010 and International Business - Wild -...

Skill: Concept

Incoterms 2010 and International Business - Wild -...

Difficulty: Easy

Incoterms 2010 and International Business - Wild -...

LO: 5.1: Describe the benefits, volume, and patterns of international trade.

Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

4) A majority of the total world merchandise trade occurs among ________.

1. A) middle-income and low-income economies 2. B) high-income economies 3. C) newly industrialized countries 4. D) emerging markets Answer: B AACSB: Application of knowledge

Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

Skill: Concept

Incoterms 2010 and International Business - Wild -...

Difficulty: Easy

Incoterms 2010 and International Business - Wild -...

LO: 5.1: Describe the benefits, volume, and patterns of international trade.

Incoterms 2010 and International Business - Wild -...

5) The smallest portion of the total world trade comprises trade between ________.

1. A) high-income and middle-income nations 2. B) low-income and middle-income nations 3. C) developed countries 4. D) First World member countries

Incoterms 2010 and International Business - Wild -... Incoterms 2010 and International Business - Wild -...

Answer: B

Incoterms 2010 and International Business - Daniel...

AACSB: Application of knowledge

Incoterms 2010 and International Business - Daniel...

Skill: Concept

Incoterms 2010 and International Business - Daniel...

Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade.

6) The danger of trade dependency is that ________.

1. A) it often leads to the exploitation of developed countries 2. B) political turmoils in a country might affect all dependent countries 3. C) the countries involved in trade often get into rivalry over trade tariff issues 4. D) it is difficult to end trade activities with current trade partners and find new trade partners Answer: B Skill: Concept

Incoterms 2010 and International Business - Daniel... Incoterms 2010 and International Business - Daniel... Incoterms 2010 and International Business - Daniel... Incoterms 2010 and International Business - Daniel... International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ...

Difficulty: Moderate

International Business - Daniels - 15th Edition - ...

LO: 5.1: Describe the benefits, volume, and patterns of international trade.

International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ...

7) The condition that results when the value of a nation's exports is greater than the value of its imports is called ________.

1. A) a trade deficit 2. B) a trade surplus 3. C) mercantilism 4. D) dumping Answer: B AACSB: Application of knowledge

International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ...

Skill: Concept

International Business - Daniels - 15th Edition - ...

Difficulty: Easy

International Business - Daniels - 15th Edition - ...

LO: 5.1: Describe the benefits, volume, and patterns of international trade.

International Business - Daniels - 15th Edition - ... International Business - Daniels - 15th Edition - ...

8) The condition that results when the value of a country's imports is greater than the value of its

International Business - Daniels - 15th Edition - ...

exports is called ________.

International Business - Daniels - 15th Edition - ...

1. A) a trade deficit

International Business - Daniels - 15th Edition - ...

2. B) economies of scale 3. C) a break-even point 4. D) absolute advan advantage

International Business - Daniels - 15th Edition - ...

Answer: A MBA - INTERNATIONAL BUSINESS 2017

AACSB: Application of knowledge

Skill: Concept Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade. Scenario: Better Mousetrap Inc. Better Mousetrap Inc. is a manufacturing company that sells pest control products. Recently the company launched an innovative mousetrap with a unique design that has been selling well in the U.S. market. Senior Vice President Marc Wallace, even recommended expanding sales overseas in order to increase company revenues.

9) In reviewing his fulfillment process, Jack realizes that different customers opt for different types of shipping based on their preferences. Which of the following would most likely help Jack provide better shipping service to his customers?

1. A) introduce overnight delivery but at a very high cost 2. B) reduce costs by implementing a cheaper but slower delivery method 3. C) implement a universal delivery method to capitalize on efficiency gains 4. D) offer customers a choice of delivery methods with different speeds and costs Answer: D AACSB: Analytical thinking Skill: Application Difficulty: Hard LO: 5.1: Describe the benefits, volume, and patterns of international trade.

10) International trade is the purchase, sale, or exchange of goods and services across national borders. Answer: TRUE AACSB: Application of knowledge Skill: Concept Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade.

11) The value of trade passing through the borders of all countries exceeds the amount of goods and services they produce. Answer: FALSE AACSB: Application of knowledge Skill: Concept Difficulty: Moderate LO: 5.1: Describe the benefits, volume, and patterns of international trade.

12) Most of the world's merchandise trade is composed of trade in agricultural products. Answer: FALSE

FREE GUIDES FOR INCOTERMS 2010 Download here: http://toptenmba.com See the full list of videos INCOTERMS GUIDES: https://www.youtube.com/watch? v=6RjtPtikgzc&list=PLJgtHeQHJ7eFf20KG2 7sqX47fUewZ81Fj Full list of International Business Case Study: https://www.youtube.com/watch? v=9gwy0kD26I4&list=PLRYuVYJhTowSXmk 8RBPmW_zah-Im9u8oO Free Download - International Business ebooks, Test Bank and Case study guides: http://toptenmba.com/mba-cases/55-mbaincoterms-2010 ============================= INCOTERMS 2010, guides for incoterms 2010, International business, Lectures, Case study, Import export online training, online course, online training, free Incoterms 2010, guides, practice, EXW, FCA,CPT, CIP, FAS,FOB, CFR, CIF, DAT, DAP, DDP, free online guides, incoterms 2010 explains, huong dan, su dung, UCP, URDG, L/C, icc guide to incoterms 2010, pdf free download, incoterms 2010 book, free download, incoterms 2010 definitions, incoterms rules, chart of responsibility, incoterms 2010 full text pdf, ============================= INTERNATIONAL BUSINESS, Lectures, Case study, Incoterms 2010, Import export online training, online course, online training, free Incoterms 2010, guides, practice, international business, free online course, Outsourcing and Logistics, International Strategy, Regional Economic Integration, Entry Strategy, Strategic Alliances, transportation, forwarding, customs clearance, The G20, Root Capital, Netflix, MyGym Mexico, Marketing a Movie Globally, Impact of Culture on Business, ----------------------------------------------

AACSB: Application of knowledge Skill: Concept Difficulty: Moderate

Spotlight on China, Global Monetary and Financial Systems, Made in America Mexico, EBOOKS free PDF download at: http://toptenmba.com

LO: 5.1: Describe the benefits, volume, and patterns of international trade.

13) Trade in services tends to be relatively more important for the world's richest countries. Answer: TRUE AACSB: Application of knowledge Skill: Concept Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade. 14) When a country's currency is weak relative to other nations, domestic products are more expensive than imports. Answer: FALSE AACSB: Application of knowledge Skill: Concept Difficulty: Moderate LO: 5.1: Describe the benefits, volume, and patterns of international trade.

15) Trade deficit occurs when the value of a country's imports is greater than the value of its exports. Answer: TRUE AACSB: Application of knowledge Skill: Concept Difficulty: Easy LO: 5.1: Describe the benefits, volume, and patterns of international trade.

16) According to Adam Smith, international trade should be restricted by tariffs and quotas in order to give a country an absolute advan advantage. Answer: FALSE AACSB: Application of knowledge Skill: Concept Difficulty: Moderate LO: 5.1: Describe the benefits, volume, and patterns of international trade.

17) Discuss the dangers of trade dependency.

International Business: The New Realities, 4th Edition, Cavusgil, Knight & Riesenberger International Business: The Challenges of Globalization, 8th Edition, Wild & Wild International Business, 15th Edition, Daniels, Radebaugh & Sullivan International Business: A Managerial Perspective, 8th Edition, Griffin & Pustay

Answer: The dangers of trade dependency become apparent when a nation experiences economic recession or political turmoil, which then also harms dependent nations. Trade dependency is a concern in Mexico, which for 30 years was a favorite destination for the investments of U.S. companies. Mexican factories assemble all sorts of products headed for the U.S. market, including refrigerators, mobile phones, and many types of garments. But a weak education system, corruption, an outdated infrastructure, and drug-related violence are forcing some companies to abandon Mexico for locations in Asia and Europe. This move has left many Mexicans unemployed. Although trade dependency was a blessing for Mexico for years, it is now feeling the pain as some companies shift jobs out of the country. The best way for Mexico to cope with its dependency on the United States is to improve its competitiveness and make it the preferred destination among all emerging markets. AACSB: Application of knowledge Skill: Concept Difficulty: Moderate LO: 5.1: Describe the benefits, volume, and patterns of international trade.

18) Describe the potential benefits of international trade. Why would a nation trading with a neomercantilist country be at a disadvantage? Answer: The purchase, sale, or exchange of goods and services across national borders is called international trade. This is in contrast to domestic trade, which occurs between different states, regions, or cities within a country. In recent years, nations that embrace globalization are seeing trade grow in importance for their economies. One way to measure the importance of trade to a nation is to examine the volume of an economy's trade relative to its total output. International trade is opening doors to new entrepreneurial opportunity across the globe. It also provides a country's people with a greater choice of goods and services. International trade is an important engine for job creation in many countries. The U.S. Department of Commerce calculates that, for every $1 billion increase in exports, 22,800 jobs are created in the United States. It is also estimated that 12 million U.S. jobs depend on exports and that these jobs pay on average from 13 to 18 percent more than those not related to international trade. Expanded trade benefits other countries similarly. Nations dealing with a neomercantilist trading partner will be at a disadvantage because neomercantilist countries limit their imports. The trade theory that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports is called mercantilism. It states that other measures of a nation's well-being, such as living standards or human development, are irrelevant. The practice of mercantilism rested upon three essential pillars: trade surpluses, government intervention, and colonialism. The mercantilist and colonial policies greatly expanded the wealth of nations that implemented them. This wealth allowed nations to build armies and navies to control their far-flung colonial empires and to protect their shipping lanes from attack by other nations. It was a source of a nation's economic power that in turn increased its political power relative to other countries. Today, countries seen by others as trying to maintain a trade surplus and expand their national treasuries at the expense of other nations are accused of practicing neomercantilism or economic nationalism. AACSB: Reflective thinking Skill: Synthesis Difficulty: Hard LO: 5.1: Describe the benefits, volume, and patterns of international trade.

19) Discuss the volume of international trade, and explain the role government and chance play in the growth of international trade.

Answer: The value and volume of international trade continues to increase. Today world merchandise exports are valued at more than $14 trillion, and service exports are nearly $3 trillion. Perhaps not surprisingly, the United States ranks first in commercial services exports and ranks third in merchandise exports (behind Germany and China). Most of world merchandise trade is composed of trade in manufactured goods. The dominance of manufactured goods in the trade of merchandise has persisted over time and will likely continue to do so. The reason is its growth is much faster than trade in the two other classifications of merchandise-mining and agricultural products. Although the importance of trade in services is growing for many nations, it tends to be relatively more important for the world's richest countries. Trade in services accounts for around 20 percent of total world trade. Government and chance play a role in fostering the national competitiveness of industries in international trade. First, governments, by their actions, can often increase the competitiveness of firms and perhaps even entire industries. Governments of emerging markets could increase economic growth by increasing the pace of privatization of state-owned companies, for example. Privatization forces those companies to grow more competitive in world markets if they are to survive. Second, although chance events can help the competitiveness of a firm or an industry, it can also threaten it. AACSB: Reflective thinking Skill: Synthesis Difficulty: Hard LO: 5.1: Describe the benefits, volume, and patterns of international trade.

20) ________ says that nations should accumulate financial wealth, usually in the form of gold, by encouraging exports and discouraging imports.

1. A) Absolute advantage theory advan 2. B) Factor proportions theory 3. C) Mercantilism 4. D) Communism Answer: C AACSB: Application of knowledge Skill: Concept Difficulty: Easy LO: 5.2: Explain how mercantilism worked and identify its inherent flaws.

21) The measures of a nation's well-being other than the financial wealth accumulated through exports are irrelevant according to ________.

1. A) mercantilism 2. B) absolute advantage theory advan 3. C) factor proportions theory 4. D) new trade theory Answer: A AACSB: Application of knowledge Skill: Concept Difficulty: Easy LO: 5.2: Explain how mercantilism worked and identify its inherent flaws. 22) Which of the following w...