Arizona State University (ASU) MGT 302 Principles of International Business Exam 1 Practice

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• What is the international agreement specifically for the protection of industrial property?
• Which is a common mitigation for currency exposure in international supply chains?
• Theory focusing on the relationship between the individual and his or her fellows; in individualistic societies, the ties between individuals are loose and individual achievement is highly valued; in societies where collectivism is emphasized, ties between individuals are tight, people are born into collectives, such as extended families, and everyone is supposed to look after the interests of his or her collective.
• What term denotes the sale of state-owned enterprises to private investors?
• What term refers to the total accumulated value of foreign-owned assets located abroad at a given time?
• Which system involves citizens periodically electing individuals to represent them in government?
• Which of the following is a primary example of an economic sanction?
• Which concept argues that ethics vary by culture and that firms should follow host-country norms?
• In international operations, what are the trade-offs between local responsiveness and global efficiency, and how does the integration-responsiveness framework apply?
• Given a hypothetical country X with moderate risk and a sizable market, propose an entry strategy and justify your choice of mode, considering political risk, currency stability, and local competition.
• Which is a potential drawback of deeper regional integration such as an economic union?
• The theory of the relationship between gender and work roles. In masculine cultures, sex roles are sharply differentiated and traditional 'masculine values' such as achievement and the effective exercise of power determine cultural ideals; in feminine cultures, sex roles are less sharply distinguished, and little differentiation is made between men and women in the same job.
• What does the current account record in the balance of payments?
• A totalitarian system guided by religious laws.
• Which feature best distinguishes a caste system from a class system?
• The political system where citizens elect representatives to govern on their behalf.
• The basic social organization of a society, focusing on whether the basic unit is the individual or the group, and the degree of stratification.
• Which step supports maintaining brand integrity across markets?
• Which of the following is a non-tariff barrier?
• The routine conventions of everyday life are referred to as?
• The system of values and norms shared among a group that guides living is called what?
• Which is commonly cited as a major supply chain risk in international operations?
• Outline a basic international risk management framework for a multinational, including risk identification, assessment, mitigation, and monitoring.
• What term means the bundle of legal rights over the use of a resource and the income derived from it?
• In Hofstede's cultural dimensions, high power distance is associated with which organizational implication?
• When applying Porter's five forces to analyze an industry in a foreign country, what data would you collect?
• Indulgence vs Restraint in Hofstede's cultural dimensions refers to which of the following?
• Which term describes a social stratification system where birth determines social position and change is usually not possible?
• Abstract ideas about what a society believes to be good, right, and desirable are called?
• What steps can a multinational take to protect its brand in foreign markets, including trademark registration and anti-counterfeiting measures?
• Which treaty governs the international sale of goods between parties from different countries?
• Which instrument guarantees payment to the seller in a cross-border transaction?
• Which term describes the cross-border exchange of goods and services?
• What do Incoterms define in cross-border transactions?
• Which term refers to safety standards to which a product must adhere?
• Which idea does New Trade Theory emphasize to explain why similar countries trade similar products?
• In international finance, how can a firm mitigate currency risk when expanding abroad?
• What is the relationship between institutions and foreign direct investment in developing countries?
• The belief that socialism can be achieved only through revolution and totalitarian dictatorship is best described by which term?
• Which term describes the political, economic and legal systems of a country?
• What is the term for the total accumulated value of foreign-owned assets at a given time?
• Which statement correctly describes comparative advantage?
• Which scenario best illustrates how a mismatch in cultural communication can lead to negotiation failure, and what could have helped avoid it?
• Which group comprises finance ministers and central bank governors of the 19 largest economies in the world, plus representatives from the European Union and the European Central Bank?
• A political system in which power is monopolized by a party, group, or individual representing the interests of a particular ethnic group.
• Which step constitutes identifying risks in international risk management?
• Which practice improves communication, trust, and performance in dispersed international teams?
• Which international institution was established by 44 nations to promote development in poorer nations through investments in infrastructure and other initiatives?
• What are the key components of compliance programs to prevent bribery and corruption in global operations, and how do penalties differ across jurisdictions?
• In logistics management, which practices contribute to lower total landed costs and increased border reliability?
• Which concept refers to the set of practices and policies that a firm uses to operate ethically and responsibly toward its stakeholders?
• Which system allows mobility between classes and combines birth status with socioeconomic achievements?
• When is standardization in global marketing most appropriate?
• Which statement best describes the risk and governance requirements when a multinational engages in technology transfer or R&D collaboration?
• Which organization is often described as the lender of last resort to maintain order in the international monetary system?
• Which organization is headquartered in New York City and was formed in 1945 to promote peace and security?
• Which statement best describes documentary collections in trade finance?
• How do intangible assets function as cross-border assets, and how should firms protect them?
• Which factor most directly contributes to reducing the total landed cost of imported goods?
• Strategies that not only help the multinational firm make good profits, but that do so without harming the environment, while simultaneously ensuring that the corporation acts in a socially responsible manner with regard to its multiple stakeholders.
• Cultural differences influence negotiation styles, decision-making, and leadership in international teams. Which practice best supports success?
• Which statement correctly matches typical characteristics of entry modes?
• Which term describes the basic social organization of a society? Focus on whether the basic unit is the individual or the group, and the degree of class or caste stratification.
• Which term describes violations of property rights carried out by private individuals or groups, such as theft or piracy?
• What term describes the extent to which individuals can move out of the social strata into which they are born?
• Which practice reduces dependency on a single supplier and strengthens supply chain resilience?
• Which theory recognizes that human beings have fundamental rights and privileges that transcend national boundaries and cultures?
• Which strategy protects intangible assets across borders?
• The individuals or groups that have an interest, stake, or claim in the actions and overall performance of a company.
• Which organization consists of finance ministers and central bank governors from the world's 19 largest economies plus representatives from the European Union and the European Central Bank?
• Which practice best supports building resilient supplier networks in a global operation?
• Based on the following production possibilities: Country A can produce 10 wine or 6 cloth; Country B can produce 6 wine or 8 cloth. Which good should each country specialize in to maximize gains from trade?
• Norms central to functioning of a society and its social life are called which term?
• Which organization is made up of 193 countries and was formed in 1945 to promote peace, security and cooperation?
• The belief that ethics are culturally determined and that firms should adopt the ethics of the cultures in which they operate
• What term describes the system of rules that regulate behavior and the processes by which laws are enforced and grievances are redressed?
• Which term describes the bundle of legal rights over the use of a resource and the income derived from that resource?
• Which term is defined as a distribution of goods and services that is fair and equitable within society?
• Which term is used for a situation where there is no ethically acceptable solution?
• What term describes social rules that specify appropriate behavior in particular situations?
• How do international capital markets interact with domestic markets?
• Which term refers to abstract ideas about what a society believes to be good, right, and desirable?
• One who claims that a multinational's home-country standards of ethics are the appropriate ones for companies to follow in foreign countries
• People who work for or own the business, such as employees, directors, and stockholders.
• Which motive focuses on acquiring capabilities or brands?
• How does the integration-responsiveness framework help firms in international operations?
• Holding a firm and its officers responsible when a product causes injury, death, or damage is known as what?
• Which ideology advocates achieving socialism by democratic means?
• Tendency for individuals to perceive themselves in terms of their class background?
• What does the Heckscher-Ohlin model predict about trade patterns?
• What are the four macroenvironmental forces that shape international business operations?
• A political system in which government is by the people, exercised either directly or through elected representatives.
• What do official reserve transactions involve in balance of payments?
• A UN document that lays down the basic principles of human rights that should be adhered to.
• Why might countries coordinate monetary policy or adopt fixed exchange rates within a currency union, and what risks arise from misalignment?
• How do ethics and CSR considerations influence decision-making in international business, and which anti-bribery frameworks are commonly referenced?
• What term refers to the act of public officials extorting income from property holders?
• The idea that business people should consider the social consequences of economic actions when making business decisions, and that there should be a presumption in favor of decisions that have both good economic and social consequences.
• Which statement about exporting as an entry mode is true?
• How should HR policies be adapted to local labor laws and cultural norms while maintaining global consistency?
• In cultures with high uncertainty avoidance, which organizational preference is common?
• Social stratification comprises systematic categories that are traits of society, persist across generations, universal but variable, and involve beliefs as well as inequality. What is this concept called?
• The term for socialism achieved through democratic means.
• An association of two or more individuals who have a shared sense of identity and who interact with each other in structured ways on the basis of a common set of expectations about each other's behavior is called what?
• Which U.S. law addresses bribery and unethical actions in international business?
• What is the process by which a firm exports goods or services to consumers in another country called?
• Which practice best aligns with anti-bribery governance for multinational firms?
• Which level of regional economic integration involves labor and capital mobility and common policies?
• A totalitarian regime that emphasizes ethnic-based governance.
• In international business, how do ESG considerations influence decisions and supply chains?
• Under TRIPS, which description best captures a common enforcement challenge for intellectual property rights across borders?
• The accepted principles of right or wrong governing the conduct of businesspeople
• Which term describes the belief that a company's home-country standards should govern its actions abroad?
• Which term corresponds to the belief that people should be treated as ends and never as means to the ends of others?
• Individuals or groups that have some claim on a firm, such as customers, suppliers, and unions.
• Which statement best captures a key challenge in international HRM and a typical solution?
• Which term designates the international treaty that governs contracts for the sale of goods between parties in different countries?
• Which concept emphasizes long-term value creation by avoiding harm to the environment and considering multiple stakeholders?
• What term describes any firm that engages in international trade or investment?
• Which statement best captures a challenge of digital globalization and cross-border e-commerce?
• What term refers to the body of law that governs the enforcement of contracts?
• A distribution of goods and services that is considered fair and equitable.
• A course of action that does not violate a company's business ethics
• A document that specifies the conditions under which an exchange occurs and details the rights and obligations of the parties involved.
• Which international treaty committed signatories to lowering barriers to the free flow of goods across national borders and led to the creation of the WTO?
• Which international organization signs treaties to protect intellectual property?
• A political system where power is monopolized by a party that generally permits individual economic freedom but restricts political freedom, including elections.
• One who asserts that if a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either
• Which organization is often described as the lender of last resort to maintain monetary stability?
• How do institutions such as property rights and the rule of law affect foreign direct investment and productivity in developing countries?
• Which term describes a culture that accepts delayed gratification and places emphasis on future rewards?
• How do technology transfer, licensing, and R&D collaboration impact a multinational’s competitive position?
• Which cultural dimension refers to the degree to which traditional gender roles and achievement-oriented values are emphasized in a society?
• What concept emphasizes evaluating actions by their consequences to maximize overall good?
• What is the international organization whose members sign treaties to protect intellectual property?
• A set of moral principles used to guide behavior.
• The values and norms shared by an organization's employees
• What methods are used to assess political risk for international investments, and how can firms mitigate such risk?
• How do cultural differences influence negotiation styles, decision-making, and leadership in international teams, and what practical steps support success?
• A situation in which there is no ethically acceptable solution
• A system of shared beliefs and rituals concerned with the realm of the sacred.
• A political system where power is monopolized by a party, group, or individual that governs according to religious principles.
• Which term refers to the extortion of income or resources of property holders by public officials?
• Which dimension is about tolerance for ambiguity and uncertainty in a society?
• What actions are essential for compliance with economic sanctions and export controls?
• Which group includes customers, suppliers, and unions that have some claim on a firm?
• Which principle states that microprocessor power doubles and production costs drop by 50% roughly every 18 months?
• Which term refers to the values and norms shared by employees within a company?
• Which factor increases the need for joint ventures or local partnerships?
• The generally accepted principles of right and wrong governing the conduct of individuals
• How is currency risk quantified, and what are the implications for pricing and hedging?
• What is non-market strategy and how do firms engage with governments to shape policy in international markets?
• Which statement best describes a fixed exchange rate regime?
• Which item is not one of Porter's four determinants of a nation's competitive advantage?
• Theory of how a society deals with the fact that people are unequal in physical and intellectual capabilities; high power distance cultures are found in countries that let inequalities grow over time into inequalities of power and wealth; low power distance cultures are found in societies that try to play down such inequalities as much as possible.
• What is the title for a formal document outlining an organization's ethical priorities?
• The theory of the extent to which a culture programs its citizens to accept delayed gratification of their material, social, and emotional needs. It captures attitudes toward time, persistence, ordering by status, protection of face, respect for tradition, and reciprocation of gifts and favors.
• Hold that the moral worth of actions or practices is determined by their consequences
• Which statement about penalties for bribery and corruption across jurisdictions is true?
• Which scenario best illustrates adaptation in global marketing?
• Which statement describes economic sanctions and export controls?
• Social rules prescribing appropriate behavior in specific situations are known as?
• The process of selling state-owned enterprises to private investors.
• What term refers to direct investment in business operations in a foreign country?
• Which accounts are included in the balance of payments, and how can a country’s BOP dynamics influence its exchange rate?
• Which act prohibits bribery and corrupt practices by U.S. firms in international business?
• A business's formal statement of ethical priorities.
• What do increasing returns to scale and network effects explain about international trade according to New Trade Theory?
• Which statement correctly describes hedging FX risk with forwards, futures, and options?
• A version of collectivism advocating socialism can be achieved only through a totalitarian dictatorship.
• Which of the following is NOT a main motive for foreign direct investment?
• The system of values and norms shared among a group that constitutes a design for living is called?
• Which pricing approach sets prices within the firm across borders?
• Which statement best describes the advantages and risks of global sourcing, and how firms can design resilient supplier networks?
• What is a key strategy to build a global brand across diverse cultures?
• Which principle is part of the World Trade Organization framework?
• What is TRIPS and why is enforcement important in international business?
• Which term describes the belief in the superiority of one's own culture that often leads to contempt for others?
• Which system features social position determined by birth and change usually not possible during lifetime?
• Hierarchical social categories often based on family background, occupation, and income are referred to as what?