Assignment
Question 1
When a business pays for the use of an equipment owned by an outside supplier for a specified period of time, the process is known as:
leasing.
outsourcing.
nearshoring.
supply inversion.
Question 2
The agreements that set terms for various aspects of commercial relations with other countries such as the right to conduct business in the treaty partner's domestic market are called _____.
treaty of establishment, commerce and navigation
free trade agreements
friendship, commerce, and navigation treaties
trade and investment framework agreements
Question 3
Which of the following trade barriers puts a complete ban on the import of specified products?
Embargo
Import quota
Revenue tariff
Subsidy
Question 4
The _____ is a trade bloc that establishes a free-trade area and a uniform tariff for trade with nonmember nations.
customs union
cooperation council
common area of administration
common market
Question 5
Which of the following is true regarding leasing needed products from other organizations?
It increases the sunk costs incurred by a firm.
It requires a high level of capital commitment.
It makes it difficult for a firm to customize the product according to their needs.
It provides flexibility for a growing business allowing it to easily upgrade when needed.
Question 6
The linkage between demand for a company's output and its purchases of resources such as machinery, components, supplies, and raw materials is referred to as a(n) _____.
derived demand
inelastic demand
joint demand
versatile demand
Question 7
Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas?
Globalization
Developing core values
Market penetration
Product standardization
Question 8
Which of the following stages of the organizational buying process involves comparing vendors' proposals?
Evaluating proposals and selecting suppliers
Searching for potential sources
Recognizing and determining the characteristics of a need
Acquiring and analyzing proposals
Question 9
Praga is an automobile manufacturing company that makes cars. Praga buys steel, aluminum, paints, car engines and other necessary components from various suppliers around the world and assembles them together to make a final product. Praga belongs to the _____ component of the business-to-business market.
institutions
commercial market
governmental organizations
trade industries
Question 10
A global marketing strategy differs from a multidomestic marketing strategy in that the global marketing strategy:
is tailored to meet the specific needs of the target markets in each nation.
is a standardized marketing mix that can be used in all markets with minimal modifications.
is ideal for highly differentiated products or products that are designed on the basis of local preferences.
does not bring the advantage of economies of scale to production and marketing activities.