Entrepreneurship and Small Business Management

Chapter 4: Global Opportunities

Practice Test

1
The ______________ is the interconnected economies of the nations of the world.
A)international marketplace
B)global economy
C)global society
D)worldwide economy
2
_______________ is the selling and shippng of goods to another country.
A)Exporting
B)Embargo
C)Tariff
D)Merchandising
3
_______________ is the buying or bringing in goods from other countries to sell.
A)Free trade
B)Regional opportunity
C)Importing
D)Purchasing
4
A/An____________ is a restriction on goods entering or leaving a country.
A)trade agreement
B)trade barrier
C)export fee
D)embargo
5
Taxes imposed by a government on imported or exported goods are called _________.
A)trade fees
B)sanctions
C)embargoes
D)tariffs
6
NAFTA is a trade agreement between the U.S., Mexico, and __________.
A)Brazil
B)Canada
C)Venezuela
D)Japan
7
_____________ is Europe's trading bloc.
A)European Union
B)North Atlantic Treaty Organization
C)World Trade Organization
D)NAFTA
8
The top importer of U.S. goods is ____________.
A)Europe
B)South America
C)Asia
D)Africa
9
Japan has been called a/an _________ society for marketers.
A)closed
B)open
C)unique
D)entrepreneurial
10
Latin Americans tend to make buying decisions based on their __________needs rather than an individual's needs.
A)business
B)religious
C)family's
D)cultural
11
Marketers need to segment markets by ____________ rather than national boundaries.
A)product lines
B)cultural similarities
C)price
D)quality
12
Using_________, you can learn what kinds of products are traded in specific countries.
A)trade missions
B)Standard Industrial Trade Classification (SITC) codes
C)International Business Exchange (IBEX)
D)chambers of commerce
13
____________ are products that other countries are looking to purchase.
A)“Best prospect” list
B)Consumables
C)Electronics
D)Imports
14
If you export consumer products, you need to find a country where people have enough ______________.
A)merchandise
B)disposable income
C)quality time
D)markets
15
A/An ___________ is an agency that serves as a distributor in a foreign country.
A)trade intermediary
B)management company
C)export manager
D)trade mission
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