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    71) A(n) ________ is guaranteed by both the exporter's bank in the country of export and the importer's bank in the country of import. A) revocable letter of credit B) confirmed letter of credit C) bill of lading D) irrevocable letter of credit   72) Letters of credit are popular among traders because most of the.
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    101) ________ occurs when a company sells its products directly to buyers in a target market.   102) A(n) ________ organization represents only its own company's products, not those of other companies.   103) ________ take ownership of merchandise when it enters their country. 104) ________ occurs when a company sells its products to intermediaries.
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    81) The process of collecting and analyzing original data and applying the results to current research needs is called ________. A) primary market research B) secondary survey research C) secondary market research D) original focus study   82) An exhibition at which members of an industry showcase their latest products, study activities of rivals, and examine.
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    31) A(n) ________ is the institutional arrangement by which a firm gets its products, technologies, human skills, or other resources into a market. A) investment process B) export C) entry mode D) market transfer   32) Types of entry modes available to companies include all of the following EXCEPT ________. A) exporting, importing and countertrade B) contractual entry C).
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    21) Given technological advances in emerging and developing nations, previously gathered quality information is easy to obtain.   22) The process of obtaining information that already exists within the company or that can be obtained from outside sources is called primary market research.   23) Secondary data tends to be very expensive because it.
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    51) A company proposes that in exchange for a hard-currency sale, it will make a hard-currency purchase of an unspecified product from the buyer nation in the future. The company is proposing which of the following? A) Counterpurchase B) Offset C) Switch trading D) Barter   52) An offset agreement differs from a counterpurchase agreement in.
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  91) The income elasticity coefficient for Zulu doll is 1.2, which means the demand for Zulu doll will ________. A) increase 1.2 percent for every 1.0 percent increase in income B) increase 1.0 percent for every 1.2 percent increase in income C) decrease 1.2 percent for every 1.0 percent increase in income D) remain.
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  21) Letters of credit are popular among traders because banks assume most of the risks.   22) The advance payment method reduces the risk of non-shipment the importer faces under the open account method.   23) Cross licensing occurs when companies employ licensing agreements to swap intangible property with one another.   24) The brand name.
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  81) A ________ joint venture is formed when each partner requires the same component in its production process. A) backward B) multistage C) forward D) buyback   Scenario: Sanjeer's HomeCare Products Sanjeer Sengupta, owner of Sanjeer's HomeCare Products, is considering going international. He feels that the products he manufactures will be well received, especially in developing countries..
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    31) Locating production facilities within regional markets is popular because ________. A) producing in one of a region's countries provides duty-free access to every consumer in the trade bloc B) it simplifies language gaps C) it simplifies political and economic gaps D) marketing strategies can then be standardized across the bloc   32) The first step.
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  112) When creating a market-potential indicator for an emerging market, ________ attempts to estimate the extent to which free-market principles predominate.   113) When creating a market-potential indicator for an emerging market, ________ attempts to estimate market openness.   114) Selecting the market or site is the ________ step in the screening process for.
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  134) What are the factors managers consider when analyzing industrialized markets? Discuss why the comparability of data is a challenge of conducting international research. 135) What is primary market research? Describe any four primary market research methods.       .
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  41) Which of the following occurs when a company sells its products to intermediaries who then resell to buyers in a target market? A) Indirect exporting B) Investment entry C) Strategic alliance D) Direct exporting   42) The different types of intermediaries involved in indirect exporting include all of the following EXCEPT ________. A) export management companies B).
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    61) Which of the following financing methods entails the greatest risk for importers? A) Documentary collection B) Advance payment C) Letter of credit D) Open account   62) Which of the following financing methods entails the greatest risk for exporters? A) Documentary collection B) Advance payment C) Letter of credit D) Open account   63) The ________ payment method is commonly used.
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    51) Poor fiscal and monetary policies of a nation's central bank are LEAST likely to cause which of the following? A) High rates of inflation B) Increasing budget deficits C) Flagging innovation D) Appreciating currency   52) Which of the following refers to management of the physical flow of products from point of origin as raw.
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    91) Alistair has identified one option that might help the firm: selling goods or services that are paid for in whole or in part with other goods or services. Alistair is considering which of the following? A) Open trade B) Pre-purchase C) Countertrade D) Counterselling 92) If Gro-Tru exchanges its products directly for other goods.
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  140) Explain how a country's political environment can influence its choice of market entry strategy, and discuss the risks posed by by political instability on the management contract entry mode.   141) Discuss the advantages of licensing, low-cost production, and low-cost shipping for international companies.       .
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1) Product standardization is more likely when nations share the same level of economic development.   2) Cultural differences demand that all companies modify their products to local cultures.   3) A brand name is central to a product's personality and the image it presents to buyers.   4) A brand name can function as legal.
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    41) Exploring the cost of transporting goods is part of which step in the screening process for potential markets and sites?   42) Quality of workforce, materials, and infrastructure is analyzed in which step of the screening process for potential markets and sites? 43) Assessing how culture affects the national business environment is.
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    11) Indirect exporting occurs when a company sells its products to intermediaries who then resell to buyers in a target market.   12) Agency relationships are popular among exporters because they are easy to terminate should difficulties arise.   13) Countertrade can provide access to markets that are otherwise closed because of a lack.
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  102) The first step in the screening process for potential markets and sites is to ________.   103) Assessing the national business environment is the ________ step in the screening process for potential markets and sites. 104) ________ is the likelihood a society will undergo political changes that negatively affect local business activity.   105).
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  71) During which stage of the market or site screening process do managers normally want to visit locations? A) Assess national business environment B) Select the market or site C) Measure market or site potential D) Identify basic appeal 72) Research regarding the potential threat from substitute products in a market is an example of.
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    11) Volatile currency values make it profitable and easier for firms to predict future earnings accurately in terms of the home-country currency.   12) The cost of transporting materials and finished goods usually does not affect decisions about where to locate manufacturing facilities to any great degree. 13) Country image is highly relevant.
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    61) Developing a market-potential indicator for an emerging market is useful to companies considering ________. A) exporting B) licensing C) joint ventures D) wholly owned subsidiaries   62) Which of these is NOT a variable commonly included in market-potential analysis of an emerging market? A) Economic freedom B) Commercial infrastructure C) Fiscal and monetary policies D) Market intensity 63) When creating.
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    111) ________ is the export of industrial equipment in return for products produced by that equipment.   112) Export/import financing in which a bank acts as an intermediary without accepting financial risk is called ________.   113) A(n) ________ requires the importer to pay when goods are delivered.   114) A(n) ________ is a contract between.
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  123) Explain why an exporter would use a sales representative or a distributor, and discuss why the exporter might be reluctant to offer an open account payment method. 124) Discuss the steps companies can take to avoid export and import blunders, and explain why an advance payment method can help exporters.
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1) An entry mode is the institutional arrangement by which a firm gets its products, technologies, human skills, or other resources into a market.   2) The most common methods of buying and selling goods internationally are joint ventures and strategic alliances.   3) Most large companies use exporting as a means of expanding.
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