Oxford University Press | Online Resource Centre

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Question 1

Two of the oldest and most important trade theories are the theories of absolute and _______________ advantage.

a) Comparative

b) Contrasting

c) Compound

d) Converse

Question 2

Three of the most important bodies that regulate world trade are the World Bank, the International Monetary Fund and:

a) NAFTA

b) Unicef

c) The World Trade Organization

d) The European Union

Question 3

An economic union is:

a) A merger of two firms

b) A trade union

c) A common currency

d) A formal trade agreement

Question 4

Which of the following is not a barrier to trade?

a) Quotas

b) Exchange rates

c) Embargoes

d) Exchange controls

Question 5

The most important trading triad in the world consists of:

a) The USA, Japan and Europe

b) The USA, China and Europe

c) The USA, China and Japan

d) China, Japan and Europe

Question 6

A country that measures high on power distance would have which of the following characteristics?

a) People are accepting of unequal distribution of power

b) People are not accepting of unequal distribution of power

c) People like to have autonomy in their jobs

d) People do not like to have autonomy in their jobs

Question 7

A 'diffuse' culture is one where:

a) People keep work and social life separate

b) People allow work relationships to spill over into social life

c) People believe that high status is based on achievement

d) People believe high status to be based on innate factors such as class, race and age

Question 8

In terms of Porter's Diamond model, a demand condition as applied to the chocolate industry in Belgium would be:

a) Belgium has a network of firms that support each other in becoming stronger as a whole in the chocolate industry

b) Belgian consumers are particularly discerning about chocolate

c) Belgium has a number of very strong competing firms in the chocolate industry

d) Belgium possesses a number of secret recipes in chocolate making

Question 9

A microchip producer might be advised to follow which of the following international strategies?

a) A Global strategy

b) A Transnational strategy

c) A local strategy

d) None of these

Question 10

An international structure in which local operations imitate those of the home country, and which is dominated by home-nation personnel is an ________approach.

a) Geographic

b) Eccentric

c) Ethnocentric

d) Polycentric

Oxford University Press, Online Resource Centre, Chapter 14.

Chapter 14

Instructions