Name: 

Some Canadian companies depend so heavily on their ability to sell their products abroad that the majority of their revenue comes from sales to customers in other countries.

Canada is a large enough market to sustain any company based in this country.

A nation has a favourable balance of trade when the value of its exports exceeds the value of its imports.  It has a favourable balance of payments when more money goes out of the country than flows into the country.

A country has several options with regard to its exchange rate.  It can fix it, it can let it float, it can devalue it, or it can revalue it.

Freer trade generally leads to economic growth.

Absolute advantage is common but comparative advantage is rare, which is why it is a more desirable state.

Firms that are classified as “not committed” to global marketing are those that do no international business at all and those that export occasionally to get rid of excess product.

Firms that adopt a polycentric approach to global marketing assume that multiple marketing approaches can be applied to many countries and therefore that marketing mixes can be shared within large regions of the world.

Taso Fixtures supplies nails to a large firm, Durable Housing, which uses them to build prefabricated houses.  Although Taso is not involved or even committed to international business, it can be classified as being involved in “indirect exporting and importing” because Durable Housing markets its prefabricated houses to Third World countries.

Foreign licensing grants foreign marketers the right to use a domestic company’s trademark, patent, or process in a specified geographic area.

Of all of the modes of international activity, a joint venture requires the greatest investment in global enterprise.

A multinational corporation is a firm that has entered the international marketplace by exporting its products to a foreign market.

Once a firm decides to examine the feasibility of international activity, it should begin by scanning possible markets, starting with those that are geographically close, similar in language and culture, or familiar to company officials.

For a variety of cultural and environmental reasons, just because a foreign country has a larger population than a firm’s home country, it doesn’t mean that the foreign market represents a larger market for the firm’s product.

A systematic market assessment is even more important in marketing to another country than to your own country because you have knowledge and experience in your own country.

Although each country has the authority to pass its own laws regarding international trade and marketing, most have adopted similar legislation in recent years due to the existence of the World Trade Organization.

The Competition Act bans cartels both domestically and internationally.

The best approach to pricing in international market is the simplest approach, cost-plus.

Marketing communication messages for foreign markets should be developed, or at least reviewed, locally, in order minimize misinterpretation.

The Canadian government only has trade officers in its largest embassies and consulates around the world.

International trade is vital to a nation and its business for all of the following reasons except

Global competition now affects all of the following types of Canadian businesses except

Canada’s chief trading partner, supplying about 76 percent of our imports and buying about 79 percent of our exports, is

A country’s balance of trade is determined by the relationship between a country’s _____________, while its balance of payments relates to the _____________ .

Changes in exchange rates

The principle of comparative advantage supports the idea that

For many years, it was believed that South Africa was the world’s only source of high-grade, non-industrial quality diamonds.  This gave South Africa a(n) _____________ in the global marketplace.

A country might choose to produce a product in which it does not have a comparative advantage for which one of the following reasons?

A firm that takes an ethnocentric approach to global marketing

Exporting occurs when a firm

A partnership in which two or more companies share the work, costs, and rewards of a major project is a

Before deciding to “go international”, a company needs to have

The elements of culture (language, religion, vales and attitudes, manners and customs, etc.) are

The strategic components of a firm’s marketing mix in an international market are

The simplest form of multinational economic integration is the

An economic union

This agreement among the United States, Canada, and Mexico removes trade restrictions among them over a period of 14 years.

Protective tariffs are used by countries to

A trade restriction that limits the number of units of a certain good that can enter  a country is known as

International product and promotion strategies do not depend on