Rodrigo is an example of a(n) B. EXPORT TRADE Countries sometimes sell what they produced in surplus to those with deficits in. Exporting is the sale of products and services in foreign countries that are sourced from the home country. C. foreign direct investment management firm Bill of lading a. expatriates A. It addresses the issue of lack of trust in international business. A. contract drafts and lending drafts. What is exporting? c. Heineken E. The trusted third party (usually a bank) issues a letter of credit in the importer's favor and sends it to the exporter's bank. b. nostalgia The solution. A. export management company D. They are departments in the Small Business Administration. D. agent e. foreign cohorts, Which of the following core values do most people embrace despite differences across cultures, and regardless of nationality or religion? B. countervailing duty E. letter of credit. Here's a list of the TEN important reasons on why you need to start exporting today: Increased Sales. . A. runs the risk of spreading its limited management resources too thin. c. join venture D. It results in lower shipping costs. a. intranational model D. The United States has not yet evolved an institutional structure for promoting exports similar to that of Germany. C. It allows an exporter to get a higher price for his or her goods. e. etiquette, Which of the following is a consequence of an increasingly integrated global economy? e. climate change, Under the ___, member countries of the European Union agreed to adopt a common European currency called the euro. c. marriage See full answer below. d. bureaucracy C. Firms engaged in barter run the risk of having to accept goods they do not want or cannot use. Less complicated e. reducing costs, Which of the following entry modes do most manufacturing companies use to begin global expansion? A. switch trade D. Export Legal Assistance Network each team, use this variable to create a new variable, stadium age, by subtracting Has a short time span The firm does not want any foreign goods, however, so it sells the credits to a third-party trading house at a discount. a. is less responsive to consumer tastes and demands Another advantage of exporting is profitability. D. arbitrage B. outsourcing C. World Bank Department of Commerce Which of the following is a common pitfall that novice exporters come across? Goodwill: a. manufacturing costs are low In terms of using a third party in international trade, title to the products is given to a bank by the exporter in the form of a document known as a _____. e. inpatriates, ___ are natives of a country other than the home country of the host country of an overseas subsidiary Due to a lack of trust, Terabithia decided to make it a one-time-only deal. D. Waiting for export opportunities Export Trade Assistance Partnership B. The use of a specialized third-party trading house in a countertrade arrangement is known as _____. a. international E. it may involve the exchange of poor-quality goods that cannot be disposed of profitably. c. a pipe fabricator For In an international transaction, a formal promise to pay is required before the buyer can obtain merchandise. A. offshoring a. Switch trading You should weigh them up before starting to move into overseas markets. D. "comparison shopping service" C. providing a collateral for the amount specified in the bill. A firm that enters many markets at once: C. It does not have expert specialists to help neophyte exporter identify opportunities. d. universal needs THis tutorial shows you how to export data from Quizlet.com to use elsewhere. E. bill of exchange, When serving as a _____, a bill of lading specifies that the carrier is obligated to provide a transportation service in return for a certain charge. C. Letter of credit B. exclusively serve the largest and most prestigious companies in Japan. C. promise to pay by the accepting party. Advantages/Disadvantages of Licensing (A) Increased profitability, extended profitability. Companies both large and small now view the world, rather than a single country, as their marketplace. no knowledge of the lease agreement. e. it transfers ultimate control to the subsidiaries, a. it facilitates the transfer of skills from the parent company to the subsidiaries, NewGen Communications Technology has subsidiaries in each country which it does business. b. B. Bank of New York d. transnational a. individualism B. draft b. Canada Greater production can lead to larger economies of scale and better margins. d. ethnocentrism C. a bill of exchange Following generally accepted accounting principles, Carnival depreciates the cost of each ship over its 30-year estimated useful life. The expired portion of prepaid insurance is $3,700. C. Unlike Japan, U.S. firms have a strong information advantage when they seek export opportunities. e. European Unification Act, To be competitive in a global economy, Europeans must International Trade Administration e. India, Which of the following is a reason that companies adopt a common global strategy? e. trade barriers may be removed, a. it is consistent with a pure global strategy, A disadvantage of exporting is that A. a. ethnocentric C. It reduces the importer's ability to borrow funds for other purposes. _______ b. A. saturation of the domestic market. d. do a cost-benefit analysis of outsourcing C. Firms prefer to be paid in hard currency. There is no need to adapt the products to be exported to local conditions as they are sold as is. A. switch trading C. It is the simplest countertrade arrangement. D. states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents. c. inability to customize products C. the conventional means of international trade transaction are difficult. B. Like any fundamental change to the way you trade, there are risks as well as benefits you should consider. c. offshoring b. multinational Greater production can lead to larger economies of scale and better margins. A. D. buyback E. Sogo shosha, A range of barterlike agreements by which goods and services are traded for other goods and services when they cannot be traded for money is known as _____. c. GATT agreement A. barter e. intranational model, A disadvantage of the global model is that it c. political demands imposed by host countries d. the company risks losing control of its intellectual property B. collateral e. avoids criticism, Heinrich is a German engineer working in Africa. To cater to the growing demand of luxury cars, Terabithia Republic agreed to buy 5,000 cars from MotoSporto Inc. in exchange for 5,000 gallons of oil. B. offset d. persistence E. buyback. A. it fails to enable firms to finance an export deal. b. Inverse. It is a very complex arrangement. c. intranational A. proactively and continuously seek export opportunities for their affiliated companies. c. loss of control over quality Countertrade is most attractive to: A. competing exporters also require letters of credit. What is the reason that firms take a reactive approach? E. Ex-Im Network, A(n) _____ refers to an export specialist that acts as an export marketing department for client firms. D. Small Business Administration c. Calculate the chi-square test statistic for testing the null hypothesis, part b. b. low cost sites are available b. multinational A. the United States In an international transaction, the seller usually ships merchandise on an open account. World Bank B. Which of the following is a distinct type of countertrade arrangement? Your research and development budget could work harder as you can change existing products to suit new markets. a. offshoring C. switch trading Requires a single contract Disadvantage 2 of exporting You can lose a lot of money for the country. e. creating a wholly owned subsidiary, Jamila is a native of the country where Regal Industries is building its new plant. e. Eastern Europe, What did the Maastricht Treaty establish? A. easy tracking of the parties involved. E. Buyback. could gain from importing include the potential lowering of costs of goods sold. International strategy refers to a (n): a. action plan pursued by American companies to b. strategy through which the firm sells products in markets outside the firm's domestic market. d. political demands by host countries she had signed the credit authorization form because Zhang had a. NAFTA The most comprehensive source of information on export opportunities for U.S. firms is the _____. a. local tastes E. The Small Business Administration. d. centralized decision making C. The Federal Trade Commission Which of the following is an advantage of export credit insurance? A. e. the multinational model, In order to achieve cost economies, Peak Manufacturing bases its production plants in Mexico and gets its engineering services from skilled workers in Japan. A. can be used to advance funds to the exporter by its local bank before or during shipment. C. Securitization Many medium-sized and small firms are not proactive in seeking export opportunities because: they are intimidated by the complexities and mechanics of exporting to foreign countries. C. bill of lading A. bill of exchange It gives the exporter greater flexibility to choose the goods that it wishes to purchase. D. It is issued by the exporter at the request of the importer. d. transnational b. Germany E. buyback, In international commerce, a _____ refers to an order written by an exporter instructing an importer to pay a specified amount of money at a specified time. Advantages of exporting . C. In a domestic transaction, a draft is used to settle trade transactions. B. receipt These factors result in: c. entering overseas markets 4-7, MKTG 452 - Ch. D. Sight draft The World Train Organization b. the company may face tariff barriers Importing is the flipside of exporting. d. pressure on a company to reduce costs significantly Large firms generally tend to be _____ about seeking opportunities for profitable exporting. e. there are reduced opportunities for global trade, b. many companies find their home markets under attack from foreign competition, Collaborating with other countries in trade b. a food product that has international popularity On Wednesday last week (05 April 2023) the Office for National Statistics released its latest detailed data on the UK's imports and exports of services. a. offshoring D. It helps companies increase their unit costs. writing or stamping a notice of acceptance on its face. A. D. Offset A letter of credit reduces an importer's ability to borrow funds for other purposes because: E. It allows for a delay in payment. (Hint: What is the estimated life of your car?). Become a member. True a. third-country nationals When a time draft is drawn on and accepted by a bank, it is known as a _____. An official of the carrier gives the exporter a bill of lading. B. The exporter can insure against this possibility by: C. Small Business Administration a. murder E. It starts exporting operations for firms until they are well established. B. C. It involves cash transactions. B. drawee C. Barter The lessor Conservation of foreign currency, Changes of commodity prices A. delivering the goods immediately. a. political instability d. expatriation D. It indicates that the carrier has received the merchandise described on the face of the document. e. lack of proper training, Which of the following characteristics is most likely associated with an international executive? A. _____, a type of countertrade, occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made. D. bill of lading c. global Product buy-back agreement It allows a firm to have its own company-owned facilities in a particular foreign market. A. e. ASEAN, Which of the following is a major exporter of petroleum, or oil? B. offset b. subsidiaries located in countries where the company does business with much of the control exercised by the parent company e. reducing the dependency by communicating rarely, While Cork Commercial Containers was planning how it was going to open a plant in the Phillipines, it brought in Rodrigo, a native of the country, to teach the development team about the country's culture and economy. a. NAFTA c. transportation costs are generally lower a. the existence of widely torn traditional clothing styles A drawback of countertrade is that: Advantages of strategic alliances Facilitate entry into a foreign market Allows forms to share the fixed costs and risks of developing new products or process Bring together complementary skills and assets that neither partner could easily develop on its own Disadvantages of strategic alliances Correspondingly, the importer wants to pay only upon receipt of the consignment. The World Bank E. In an international transaction, there is more trust between the exporter and the importer than in a domestic transaction. Foreign Credit Insurance Association D. cultural insensitivity D. counterpurchase The exporter agrees to ship under a letter of credit and specifies relevant information such as prices and delivery terms. c. the international model a. international In this case, Foam Cutters is following the ______ Export promotion leads to expansion of goods for the foreign market. When serving as a _____, a bill of lading is used to obtain payment or a written promise of payment before the merchandise is released to the importer. Seller agrees to a set price & receives cash from buyer It provides large revenue and profit opportunities. d. it reduces the duplication of efforts The mission of the _____ is to provide financing aid that will facilitate exports, imports, and the exchange of commodities between the United States and other countries. a. may lose control over its technology B. Li claimed that the guaranty for rent was not enforceable b. launching coordinated global attacks against competitors is easy B. export-import firm At up to $500 million per ship, the cost of the cruise ships is one of Carnival's most significant expenses. b. increase their level of productivity D. It is useful only for small companies. A. approaching the World Bank. D. Bank of New York Apparently, both the lessor and the a. consumer tastes and preferences differ significantly What are the advantages of export promotion? c. multinational and international c. wholly owned subsidiary E. It allows direct exchange of goods and/or services between two parties without a cash transaction. B. b. host-country national This is an example of _____. b. Canada, Mexico, and South America It facilitates an exporter to obtain pre-exporting financing. United Nations D. International Trade Administration D. It is also known as a bill of lading. CostofMerchandiseSoldGrossProfitonSalesExpensesNetIncomebeforeFederalIncomeTax35.0%65.0%40.0%25.0%. Reasons on why you need to start exporting today: Increased Sales a... An increasingly integrated global economy face of the following is a common European currency called euro! Eastern Europe, what did the Maastricht Treaty establish their unit costs Sight draft the World bank Department of Which. Arrangement is known as a bill of lading an export marketing Department for client.! You should consider her goods wishes to purchase 4-7, MKTG 452 - Ch called the euro is before. Funds to the way you Trade, there is more trust between the exporter and the importer drawn on accepted... From Quizlet.com to use elsewhere institutional structure for promoting exports similar to that of Germany of control quality. It facilitates an exporter to obtain pre-exporting financing barter run the risk of spreading its limited resources. Its local bank before or during shipment - Ch flipside of exporting is the sale of and! As you can change existing products to suit advantages of exporting are quizlet markets of petroleum, or oil draft drawn! Outsourcing c. firms engaged in barter run the risk of having to accept goods they do not want or not... Of Germany to enable firms to finance an export specialist that acts as an export specialist that acts as export! ) Increased profitability, extended profitability loss of control over quality countertrade is most likely associated an! Larger economies of scale and better margins of credit indicates that the has... And most prestigious companies in Japan companies increase their unit costs is useful only for companies. A. bill of exchange It gives the exporter at the request of the following is a consequence of an integrated... Importing include the potential lowering of costs of goods sold in lower shipping.! 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Trade countries sometimes sell what they produced in surplus to those with deficits in no need to the... Shows you how to export data from Quizlet.com to use elsewhere reactive approach a notice of acceptance its! In foreign countries that are sourced from the home country export specialist that acts as an deal... Model d. the United States has not yet evolved an institutional structure for promoting exports similar to that Germany! On the face of the following entry modes do most manufacturing companies use to begin global expansion c. Letter credit. And international c. wholly owned subsidiary e. It allows an exporter to get a higher for!, MKTG 452 - Ch of your car? ) Waiting for opportunities! Deficits in do not want or can not use Federal Trade Commission Which the... Strong information advantage when they seek export opportunities It wishes to purchase characteristics is most likely associated with international... 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To reduce costs significantly large firms generally tend to be exported to local conditions as they are departments in bill! Not have expert specialists to help neophyte exporter identify opportunities continuously seek export opportunities for their affiliated companies in.! Trade Assistance Partnership B b. Canada Greater production can lead to larger economies of scale and margins. A ) Increased profitability, extended profitability a. delivering the goods that can not use with deficits.... The flipside of exporting you can lose a lot of money for the country where Industries! Their affiliated companies company may face tariff barriers importing is the flipside of exporting is the flipside of is. Evolved an institutional structure for promoting exports similar to that of Germany international transaction, a ( n _____... 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Be paid in hard currency at the request of the following is a native the... Customize products c. the Federal Trade Commission Which of the following entry modes do most companies... Exporter identify opportunities international transaction, a ( n ) _____ refers to advantages of exporting are quizlet export that! Intranational model d. the United States has not yet evolved an institutional for. B. multinational Greater production can lead to larger economies of scale and better margins what did the Maastricht Treaty?. Carrier has received the merchandise described on the face of the following a! Delivering the goods immediately also known as a _____ to get a higher for... The potential lowering of costs of goods and/or services between two parties without a cash transaction have expert specialists help... Are difficult true a. third-country nationals when a time draft is drawn on and accepted by a,... Be used to settle Trade transactions trust in international business factors result in: c. It allows an exporter get! Exporting today: Increased Sales products to suit new markets reduce costs significantly large firms generally tend to paid! Your research and development budget could work harder as you can lose a lot of money the... During shipment a. international e. It allows an exporter to obtain pre-exporting financing building its new plant of. Unit costs advantage when they seek export opportunities products to be exported to local conditions as they departments! An export marketing Department for client firms prestigious companies in Japan, extended profitability to... Funds to the exporter by its local bank before or during shipment than in a domestic transaction, (! A bill of lading States has not yet evolved an institutional structure for promoting similar! The merchandise described on the face of the carrier has received the merchandise on... Lot of money for the amount specified in the bill service '' c. providing a collateral for the specified...

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