Accounting
Anthropology
Archaeology
Art History
Banking
Biology & Life Science
Business
Business Communication
Business Development
Business Ethics
Business Law
Chemistry
Communication
Computer Science
Counseling
Criminal Law
Curriculum & Instruction
Design
Earth Science
Economic
Education
Engineering
Finance
History & Theory
Humanities
Human Resource
International Business
Investments & Securities
Journalism
Law
Management
Marketing
Medicine
Medicine & Health Science
Nursing
Philosophy
Physic
Psychology
Real Estate
Science
Social Science
Sociology
Special Education
Speech
Visual Arts
International Business
Q:
Five of the fastest growing economies of the past 30 yearsChina, South Korea, Taiwan, Singapore, and Hong Konghad one thing in common at the start of their economic growth: democratic governments.
Q:
Problems associated with e-procurement include:
A. it cannot be isolated from the company's overall business system.
B. it must be completed before the firm can engage in other purchasing functions, such as supplier determination and analysis.
C. it can expose the company to a wide range of potential security issues.
D. all of the above.
E. two of A, B, and C.
Q:
The Peruvian development economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of capitalism until they relax the property rights offered by their legal systems.
Q:
According to the text, the cost of importing a foreign-sourced product, including freight, insurance, and packing:
A. is insignificant.
B. may range from 26 to 110 percent of the cost of the product.
C. may range from 10 to 12 percent of the cost of the product.
D. may not be charged if the terms of sale are CIF, port of entry.
E. none of the above.
Q:
Strong legal protection of property rights is a requirement for a business environment to be conducive to innovation, entrepreneurial activity, and hence economic growth.
Q:
For purchases of capital goods such as manufacturing equipment, many U.S. buying organizations now use _______________ to analyze purchasing decisions, including trade-in or future estimated salvage value.
A. e-procurement
B. activity-based costing
C. total costing
D. life-cycle costing
E. none of the above
Q:
Entrepreneurial individuals have fewer economic incentives to develop valuable new innovations in market economies than in planned economies.
Q:
Research found that suppliers cut invoice and ordering errors by an average of ___ percent when using an e-marketplace.
A. 10
B. 24
C. 37
D. 56
E. 69
Q:
If a countrys economy is to sustain long-run economic growth, the business environment must be conducive to the consistent production of product and process innovations and to entrepreneurial activity.
Q:
Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.
Q:
Electronic procurement exchanges:
A. can facilitate efforts to obtain letters of credit.
B. can permit bid/quote systems for buyers and suppliers.
C. protect companies from potential loss of proprietary data.
D. two of the above.
E. all of A, B, and C.
Q:
The Gross national income (GNI) per capita comes much closer to Amartya Sens conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).
Q:
According to the text, including such items as maintenance, repair, operating supplies, office equipment, and other services and supplies, indirect procurement can account for as much as what percent of the total purchasing expenditures in companies?
A. 15 percent
B. 30 percent
C. 50 percent
D. 70 percent
E. 80 percent
Q:
In Amartya Sens view, development is solely an economic process, and not a political process.
Q:
It has been estimated that at least ____________ percent of products currently on the market were not available five years ago, creating additional pressure to locate suppliers worldwide that can provide inputs at competitive prices and quality and with quick responsiveness to market changes.
A. 30
B. 45
C. 50
D. 55
E. 60
Q:
In U.S. industry, the proportion of purchased materials in the overall cost of goods sold has been rising for several decades, to a level of ________ percent today.
A. 40
B. 45 to 60
C. 55 to 79
D. 65 to 74
E. over 80
Q:
Although countries such as China and India are currently relatively poor, their economies are already large in absolute terms and growing more rapidly than those of many advanced nations.
Q:
In the case of the United States, intrafirm trade accounts for ___ ___ percent of imports of goods.
A. 15 to 30
B. 45 to 60
C. 35 to 45
D. 30 to 40
E. over 60
Q:
The purchasing power parity for different countries is adjusted (up or down) depending upon whether the cost of living is lower or higher than in the United States.
Q:
In the case of the United States, intrafirm trade accounts for ______ percent of exports of goods.
A. 15 to 30
B. 45 to 60
C. 35 to 45
D. 30 to 40
E. over 60
Q:
When state officials, such as politicians and government bureaucrats, violate property rights by extorting income, resources, or the property itself from property holders, it is described as:
A. patents violation.
B. public action.
C. public servitude.
D. private action.
E. private governance.
Q:
Investigation of export and import data shows:
A. there is a strong relationship between global sourcing and ownership of the foreign sources.
B. there is no relationship between global sourcing and ownership of the foreign sources.
C. American firms, but not Japanese firms, buy from their U.S. subsidiaries.
D. American firms import twice as much from their overseas subsidiaries as foreign firms import from their U.S. affiliates.
E. two of the above.
Q:
In the context of property rights, which of the following best exemplifies private action?
A. Levying excessive taxes
B. Requiring expensive licenses or state permits from private property holders
C. Taking assets into state ownership without compensating the owners
D. Government bureaucrats demanding bribes from businesses in return for the rights to operate in a country
E. Business owners stealing their competitors trade secrets and intellectual properties
Q:
The following arrangement can provide a firm with foreign products:
A. overseas joint venture.
B. overseas independent contractor.
C. foreign sales office.
D. two of the above.
E. all of A, B, and C.
Q:
After the collapse of communism in Dehran, successful business owners often had to pay "protection money" to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of:
A. active violation.
B. public action.
C. private action.
D. boundary spanning.
E. industrial espionage.
Q:
The following arrangement can provide a firm with foreign products:
A. domestic subsidiary.
B. independent overseas manufacturer.
C. two of A, B, and D.
D. in-bond plant contractor.
E. all of A, B, and D.
Q:
In the context of property rights, _____ refers to theft, piracy, blackmail, and the like by private individuals or groups.
A. private consumption
B. Private practice
C. privacy tort
D. private action
E. privacy violation
Q:
The following arrangement can provide a firm with foreign products:
A. domestic subsidiary.
B. wholly owned subsidiary.
C. foreign sales office.
D. two of the above.
E. all of A, B, and C.
Q:
Which of the following is true about property rights?
A. Ideas are not considered a part of "property."
B. The legal systems defining and protecting property rights are the same worldwide.
C. In China, still nominally a communist state, individuals do not have the same legal protection for their property as the state has.
D. A "private action" to violate property rights is said to have occurred when politicians and government bureaucrats extort income, resources, or the property itself from property holders.
E. In many countries, laws protecting property rights are not enforced by the authorities and the rights are violated.
Q:
The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called _____ rights.
A. civil
B. political
C. shareholder
D. property
E. public
Q:
A reason that outsourcing has become an increasingly common option for companies is:
A. the cost of communications is plummeting.
B. more automation of a company's operational activities.
C. more companies are competing for outsourcing business.
D. two of the above.
E. all of A, B, and C.
Q:
A reason that outsourcing has become an increasingly common option for companies is:
A. it helps companies to focus scarce resources on their core competencies.
B. it avoids problems of different languages or cultures.
C. it enhances flexibility.
D. two of the above.
E. all of A, B, and C.
Q:
When firms do not wish to accept the rules of the CIGS, they often opt for _____ to settle contract disputes.
A. UN involvement
B. arbitration
C. collective bargaining
D. the common law system of the U.S.
E. Islamic law
Q:
The _____ establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations.
A. Contracts for the International Sale of Goods
B. Bill of Exchange
C. United Nations Charter
D. International Forwarding Agent Contract
E. International Promissory Note
Q:
According to the text, which of the following can be outsourced?
A. Product design
B. Human resources
C. Two of A, B, and E
D. All of A, B, and E
E. Logistics
Q:
Relocating some or all of a business's activities or processes to a foreign location is:
A. offshoring.
B. outsourcing.
C. supply chain management.
D. subcontracting.
E. all of the above.
Q:
In comparison to contracts in a civil law system, contracts drafted under a common law framework tend to be:
A. shorter in length.
B. more specific.
C. more inflexible.
D. less expensive.
E. less detailed
Q:
Which of the following statements is true about the difference between contracts in common law and civil law systems?
A. Contracts drafted under a common law system tend to be longer than those drafted under a civil law system.
B. Contracts drafted under a civil law system tend to be more specific than those drafted under a civil law system.
C. It is more expensive to draw up contracts in a civil law system than in a common law system.
D. Resolving contract disputes tend to be less adversarial in common law systems than in civil law systems.
E. Civil law systems have the advantage of greater flexibility and allow for judges to interpret a contract dispute in light of the prevailing situation but this feature is absent in common law systems.
Q:
Reasons for sourcing globally include:
A. a lower price.
B. products not available locally.
C. a firm's worldwide operation and quality.
D. all of the above.
Q:
The approach to design that promotes cross-functional participation in the design stage:
A. helps to identify many of the potential sourcing, manufacturing, and other difficulties associated with a particular design.
B. may involve customers in the design process.
C. has been called concurrent engineering.
D. all of the above.
E. two of A, B, and C.
Q:
_____ are documents that specify the conditions under which an exchange is to occur and details the rights and obligations of the parties involved.
A. Memoranda
B. Manifestoes
C. Contracts
D. White papers
E. Minutes
Q:
A traditional approach to product design that involves a sequential approach to design has been termed:
A. product-based design.
B. concurrent engineering.
C. over the wall.
D. sequenced design.
E. participative design.
Q:
Jewish law is an example of a _____ law system.
A. autocratic
B. civil
C. common
D. theocratic
E. universal
Q:
According to the text, decisions on the standardization of design are affected by:
A. competitive factors.
B. cultural factors.
C. regulatory factors.
D. all of the above.
E. two of A, B, and C.
Q:
Which of the following is true about the three main types of legal systems?
A. Judges under a civil law system have more flexibility than those under a common law system.
B. The common law system evolved in the United States over hundreds of years.
C. Although Islamic law is primarily concerned with moral behavior, it has been extended to cover certain commercial activities.
D. A theocratic law system is based on a detailed set of laws organized into codes.
E. Common law cannot be altered, clarified, or amended to deal with new situations.
Q:
According to the text:
A. design is an important factor in the structure of a company's global supply chain.
B. design determines the extent to which a company's strategy will be standardized across nations.
C. common approaches to design are concurrent engineering and "over the top."
D. all of the above.
E. two of A, B, and C.
Q:
Which of the following law systems is most likely to be used by a law court if it solves a complicated case related to property rights, by basing his judgment on similar, old cases that have come before the courts?
A. Theocratic law system.
B. Civil law system
C. Precedent law system
D. Religious law system
E. Monarchy law system
Q:
According to the text, increased emphasis on the achievement of effective supply chain performance has resulted from:
A. shorter, more predictable product life cycles.
B. the impact of unplanned political and social events.
C. web-enabled tools for planning, executing, and optimizing supply chains.
D. all of the above.
E. two of A, B, and C.
Q:
_____ is the most widely practiced theocratic legal system in the modern world.
A. Christian law
B. Islamic law
C. Jewish law
D. Hindu law
E. Buddhist law
Q:
According to the text, it has been argued that the ultimate goal of effective supply chain management systems is to:
A. reduce costs.
B. improve quality.
C. reduce inventory.
D. increase sales.
E. increase standardization.
Q:
A legal system which is based primarily on religious teachings is referred to as the:
A. civil law system.
B. theocratic law system.
C. common law system.
D. precedent law system.
E. public law system.
Q:
A typical company's supply chain costs can represent more than ____ percent of assets.
A. 20
B. 35
C. 50
D. 60
E. 80
Q:
A _____ law system is based on a detailed set of laws organized into codes.
A. civil
B. theocratic
C. common
D. traditional
E. precedent
Q:
Activities that are involved in producing a company's products and services and how these activities are linked together are often referred to as:
A. value chains.
B. supply chains.
C. organization design.
D. operations management.
E. none of the above.
Q:
The common law system enjoys a degree of flexibility not found in other systems because :
A. it is usually found in democratic republics.
B. it originated from Great Britain and can be found in almost all of its former colonies.
C. it is interpreted by the law courts with regard to tradition, precedent, and custom.
D. it is based on a detailed set of laws organized into codes.
E. it has originated recently; almost a decade ago.
Q:
Efforts to improve the efficiency and effectiveness of a firm's international operations are often referred to as:
A. offshoring.
B. outsourcing.
C. supply chain management.
D. subcontracting.
E. all of the above.
Q:
In the context of common law, the term "tradition" most likely refers to the:
A. religious aspect in the law.
B. ways in which laws are applied in specific situations.
C. political beliefs of the majority of the people in the country
D. legal history of a country.
E. ways in which laws are organized into codes.
Q:
In the context of common law, which of the following terms refers to the ways in which laws are applied in specific situations?
A. Tradition
B. Precedent
C. Custom
D. Interpretation
E. Culture
Q:
Hiring others to perform some of the noncore activities and decision making in a company's value chain, rather than having the company and its employees continue to perform these tasks, is:
A. offshoring.
B. outsourcing.
C. supply chain management.
D. subcontracting.
E. all of the above.
Q:
Which of the following legal systems is most likely to be based on tradition, precedent, and custom?
A. Common law
B. Civil law
C. Autocracy law
D. Monarchy law
E. Universal law
Q:
According to the text, which of the following is true?
A. Zara's competitive advantage comes from its stylish fashion design.
B. Zara's supply chain management processes are combined with a strategy of limited availability of its merchandise.
C. Two of A, B, and D.
D. Zara's approach to the fashion industry enables it to dictate industry standards on dimensions such as customer satisfaction and order fulfillment.
E. All of A, B, and D.
Q:
Which of the following is true about legal systems?
A. All countries have the same, uniform legal environment.
B. Unlike the economic system of a country, the legal system is independent of the country's political system.
C. The government of a country defines the legal framework within which firms do business.
D. The attractiveness of a country as an investment site or market is unaffected by its legal system.
E. Collectivist-inclined totalitarian states tend to enact laws that are pro-private enterprise.
Q:
According to the text, which of the following is true?
A. Zara's competitive advantage comes from its stylish fashion design.
B. Zara's supply chain management processes have allowed the company to eliminate inventory.
C. Two of A, B, and D.
D. Zara removes its product lines, including ones that have been selling well, every two weeks or so.
E. All of A, B, and D.
Q:
Collectivist-inclined totalitarian states tend to enact laws that severely restrict private enterprises, whereas the laws enacted by governments in democratic states, where individualism is the dominant political philosophy, tend to be pro-private enterprise and pro-consumer. This indicates that the:
A. economic system of a country is independent of its legal system.
B. legal system of a country is not influenced by the prevailing political system.
C. legal system does not affect the attractiveness of a country as an investment site or market.
D. all the countries have the same legal environments.
E. the legal framework of a country reflects the rulers dominant political ideology.
Q:
The local manufacturing organization is usually integrated vertically to a greater extent than the parent company is.
Q:
The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy. However, the other private competitors in the shipbuilding industry were raged at this decision of the government. As a result, the government had to reduce the tax burden on all other private shipbuilding firms so that both the state-owned enterprise and private firms could co-exist. According to this information, Boldovia has most likely adopted a _____ economy.
A. mixed
B. market-based
C. command
D. laissez-faire
E. communist
Q:
The production organization in an overseas subsidiary is commonly a scaled-down version of that found in the parent company.
Q:
Which of the following is true about the three broad types of economic systems?
A. For pure market economy to function efficiently product supply must be restricted.
B. In a command economy, state-owned enterprises have little incentive to control costs and be efficient.
C. The sole role of government in a command economy is to encourage vigorous free and fair competition between private producers.
D. Mixed economies were once uncommon throughout much of the world, although they are becoming much popular now.
E. Production in command economies is determined by the interaction of supply and demand and signaled to producers through the price system.
Q:
In mixed economies, governments sometimes tend to take into state ownership troubled firms whose continued operation is thought to be vital to national interests. Once a government takes into state ownership such troubled firms, they are said to be _____.
A. privatized
B. decentralized
C. liberalized
D. nationalized
E. deregulated
Q:
Intermediate technology will create more jobs and require less capital than will capital-intensive processes.
Q:
Production methods between capital-and labor-intensive methods are classified as intermediate technology.
Q:
In a _____ economy, certain sectors of the economy are left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning.
A. command
B. pure market
C. mixed
D. centrally planned
E. laissez-faire
Q:
Commonly, in designing plants for developing countries, engineers will use a hybrid of capital-intensive processes when they are considered essential to ensure product quality and labor-intensive processes to take advantage of the abundance of skilled labor.
Q:
In comparison to pure command economies, free market economies lack:
A. private ownership.
B. incentives for entrepreneurs.
C. incentives to improve products and processes.
D. government control over production and pricing.
E. vigorous free competition between producers.
Q:
When a country needs new job creation, it follows that government officials will insist on the use of labor-intensive processes.
Q:
In comparison to market economies, command economies lack:
A. government interference in allocation of resources.
B. dynamism and innovation.
C. concern for the interests of the nation.
D. commitment to communism.
E. any opposition to private ownership.
Q:
Although engineers are required for the maintenance of specialized machinery, only highly-skilled people are needed to attend the machines.
Q:
In a _____ economy, all businesses are state owned, the rationale being that the government can then direct them to make investments that are in the best interests of the nation as a whole rather than in the interests of private individuals.
A. free market
B. deregulated
C. pure command
D. mixed
E. laissez-faire
Q:
Backward vertical integration establishes facilities to manufacture inputs used in the production of a firm's final product.
Q:
Computer-integrated manufacturing reduces the economic batch quantity to one and facilitates the potential for mass customizaton.