Solved >     81) A product’s components are made:1351071 …



81) A product’s components are made in a country that can produce them at a high level of productivity and assembled in another country where productivity in assembly is high. This process resembles the theory of ________.

A) comparative advantage

B) advantage savings

C) the international product life cycle

D) factor proportions


82) Much production in the world today closely resembles what is predicted by the ________.

A) new trade theory

B) international product life cycle

C) theory of comparative advantage

D) theory of factor proportions


83) Which of the following is NOT an argument offered by the new trade theory?

A) Gains can arise from diversification and managed growth.

B) Gains can arise from specialization and increasing economies of scale.

C) Companies first to enter a market can create barriers to entry.

D) Government may play a role in assisting its home companies.

84) New trade theory is in line with the theory of ________ but at odds with ________ theory.

A) international product life cycle; comparative advantage

B) comparative advantage; factor proportions

C) national competitive advantage; international product life cycle

D) factor proportions; absolute advantage


85) National competitive advantage theory states that a nation’s competitiveness in an industry depends on ________.

A) the capacity of the industry to innovate and upgrade

B) the level of government subsidy available

C) obtaining first-mover status

D) practicing neomercantilism


86) The Porter diamond consists of all the following EXCEPT ________.

A) factor conditions

B) demand conditions

C) supply conditions

D) firm strategy, structure, and rivalry


87) Which element of national competitive advantage theory divides resources into two groups: basic and advanced?

A) Demand conditions

B) Factor conditions

C) Related and supporting industries

D) Firm, strategy, structure, and rivalry

Scenario: Chuck Praeger, Global Entrepreneur

Chuck Praeger has made a name for himself by being able to sell golf equipment to anyone, anywhere, anytime. Chuck would like to expand his business into Pacific Rim countries and has begun making inquiries into potential distributors.


88) Chuck is convinced that his golf equipment will sell itself. But Chuck is preparing his special “hard-sell” presentation for Asia because he wants to make a good first impression. As a Pacific Rim expert, what do you tell Chuck?

A) Be sure to have a tight legal contract ready to avoid product piracy problems.

B) Aggressive salesmanship is unlikely to work in Pacific Rim countries.

C) Have plenty of English-language business cards to pass around because Asians are impressed with all things about the United States.

D) Avoid the confusion introduced by third-party contacts.


89) Chuck is a hands-on individual who believes his business has grown because of his personal involvement every step of the way. What advice do you offer Chuck as he continues to expand his business in new Asian markets?

A) Contact distributors directly to avoid misunderstandings that can arise when using third-party contacts.

B) Always stick to corporate settings when doing business to avoid misunderstandings that can arise in less formal environments.

C) Protect his interests by insisting on detailed contracts from the start.

D) Use proper intermediaries as required in Pacific Rim nations.

Scenario: Foodland and Drinkland

Two countries, Foodland and Drinkland, produce food and drinks. In Foodland, one resource unit produces 20 tons of food and one resource unit produces 10 tons of drinks. In Drinkland, one resource unit produces 12 tons of food and one resource unit produces 24 tons of drinks.





90) This scenario provides an example of ________.

A) mercantilism

B) comparative advantage

C) a zero-sum game

D) absolute advantage is an online academic writing platform that provides extensive assistance to graduate school students as they work through their research projects, papers and dissertations. gives students access to experienced professionals who can provide the help they need in a timely and efficient manner. The service offers a wide range of services, including editing, proofreading, formatting, researching and more that can give students the confidence they need to write the perfect paper or dissertation for their chosen subject matter.

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