unit 3 example #51414

Since 1975, the U.S. has had a(n)

The largest importer in the global market today is:

__________is the practice of selling a product in foreign countries for a lower price than the good is sold in the producing country.

An American firm recently criticized a Chinese steel producer for charging a lower price for its steel in the United States than it charges in China. If proven to be true, the Chinese firm has engaged in _________.

Reviewing the recent experience of the United States in global markets reveals that the U.S has:

The fee paid to a firm in a licensing agreement that gives another firm the right to manufacture their product or use its trademark is called:

A major advantage of licensing is:

A disadvantage of licensing is:

Export trading companies:

__________is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell the parent company's product or service to others in a given territory in a specified manner.

When a company's strategy is __________ the firm makes arrangements for a foreign manufacturer to produce the product. The domestic company's label and/or trademark are attached to the completed product.

In volume of exports, the three leading nations are:

A__________ is a partnership in which two or more companies (often from different countries) join together and share the risk and costs in order to undertake a major project.

A__________ represents a long-term partnership between two or more companies established to help each firm build competitive market advantages, without sharing the cost of risk.

An advantage of forming a joint venture is:

A form of foreign direct investment, where a domestic company purchases a company in a foreign country to produce a similar product or service is a:

licensing is a popular strategy because:

Firms such as McDonald's, Pizza Hut, and KFC, have entered the global market by offering investors the opportunity to buy:

Companies may have several reasons for creating joint ventures. Which of the following statements is one reason why firms may decide to form a joint venture?

Currently boasting a $1.6 billion Ketchup brand, the H.J. Heinz Company is flying high with a 44%increase in its sales of Indonesian based ABC, a soy sauce company that it owns. ABC is a _____________ of Heinz.

Nike_________________ its products in foreign countries, where labor is cheap and production sites are owned by other companies. This strategy allows Nike to experiment in new markets without incurring large start-up costs involved with building their own production facilities.

Which of the following statements is the most accurate observation regarding multinational corporations?

The world market is approximately ______________.

The legislation that prohibits U.S. businesses from making "questionable" or "dubious" payments to foreign officials, to secure business contracts is the _____________.

A________ tariff is designed to raise the price of imported products so that domestic goods are more competitively priced.

________tariffs are designed to raise money for the government.

A(n)__________ refers to a complete ban on importing or exporting of products from a specific country.

The European Union created a single monetary unit to replace the national currencies of 27 member nations. This common currency is known as the:

The 3 countries in NAFTA:

_________occurs when a country has a monopoly on producing a product or is able to produce it at a cost well below that of all other countries

One advantage of free trade is:

Which of the following statements best describes the theory of comparative advantage?

A favorable balance of trade occurs when the value of:

The_____________ is the total value of a nation's exports compared to its imports measured over a specific period of time.

An unfavorable balance of trade occurs when the value of:

What is true about insider trading?

Given the mortgage scandal, in order for the government and businesses to restore consumer confidence and ensure our free market system, we need to do the following except:

What is true about whistleblowers?

What is necessary to improve America's business ethics?

A(n)________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.

The__________ is the most common form of business ownership.

____________comprise about 20% of all businesses but account for about 80% of U.S. business receipts.

Two important considerations when choosing a form of business ownership is:

The__________ is usually the easiest form of business to start and end.

One of the major disadvantages of a sole proprietorship is the:

A significant disadvantage of owning a sole proprietorship is the:

Any debts or damages incurred by a firm organized as a sole proprietorship are:

In a partnership, a(n) __________ partner (owner) actively manages the company and has unlimited liability for claims against the firm

The limited liability provided to limited partners means that they are not responsible for the debts of the business beyond:

Compared to a sole proprietorship, which of the following is considered an advantage of a general partnership?

When entering into a new partnership, a good strategy is to:

Which of the following statements about partnerships is most accurate?

Which of the following is not a disclosure that should be part of a partnership agreement?

One way to eliminate some of the risk of your partners making costly mistakes that could jeopardize your personal assets is to set-up a:

An owner of a corporation is known as:

Which of the following statements about the operation of a corporation is correct?

The form of business ownership best suited to raising large amounts of money for expansion is the:

Which of the following is an advantage of the corporate form of business when compared to sole proprietorships and partnerships?

Compared to partnerships and sole proprietorships, a major advantage of the C(conventional) corporation as a form of business ownership is that it:

Which of the following is normally considered a disadvantage of the corporate form of business?

The board of directors for a corporation is elected by its:

A separation between ownership and management is most likely to occur in a:

The form of business ownership that usually requires the most detailed recordkeeping is the:

A major advantage of S corporations is that they:

To qualify as an S corporation, a company must:

The income generated by S-Corporations:

_____________are companies that are similar to S Corporations but are not restricted with similar eligibility requirements

One disadvantage of a limited liability company is that it:

One reason limited liability companies have become so popular is that they:

Earnings of C (conventional) corporations can be:

Which of the following is an attractive benefit of a corporation?

The reason a professional such as a lawyer or doctor would incorporate his/her business is

Which of the following statements about S corporations is most accurate?

The S corporation is likely to be less popular in the future because:

"Double taxation" means:

One reason that companies participate in mergers and acquisitions is:

A(n)_________ occurs when one company buys the property and obligations of another company.

Three types of corporate mergers are:

An attempt by employees, management, or a group of investors to purchase an organization primarily through borrowing is:

If a group of stockholders or management obtain all the stock of a previously publicly traded firm for themselves, this is referred to as:

The difference between a merger and an acquisition is:

The strategy of investors who are attempting a leveraged buyout is:

A___________ is an arrangement whereby someone with proven idea for a business sells the rights to use the business model, to sell a product or service to others in a given territory.

A person who buys the right to use a business name and sell a product within a given territory is called a

A franchise can be formed:

Which of the following statements about buying a franchise is most accurate?

In a cooperative, members/customers:

When entering into a new partnership, a good strategy is to:

Which of the following statements about partnerships is most accurate?

When entering into a new partnership, a good strategy is to:

What is necessary to improve America's business ethics?

A(n)________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.

Since 1975, the U.S. has had a(n)

The largest importer in the global market today is:

Since 1975, the U.S. has had a(n)