The European Union (EU) is considered an Economic Union, because in addition to

Question

The European Union (EU) is considered an Economic Union, because in addition to the attributes of a Common Market, it also has:

Question 16 options:

A common currency and harmonization of tax rates among member countries

A central government that overrules all sovereign nations in the union

Tariffs between countries in the EU

A confused marketplace with high barriers among members

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Question 17 (4 points)

A primary European Union standard that has been adopted by Turkey and other non-EU countries is the:

Question 17 options:

CE Mark

CCC Mark

WTO Stamp

EU Standards Mark

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Question 18 (4 points)

As with many companies in developing countries, Diageo had to navigate ethical issues and responsibilities in their market approach in Africa.  What was a primary issue that Diageo addressed with their product?

Question 18 options:

Health affects of alcohol in pregnant women

Hunger and poverty issues in Africa

Education levels of their employees

Risks of non-regulated alcohol production/consumption

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Question 19 (4 points)

When utilizing a website for international marketing, it is important to have the site completely translated into as many languages as possible, even if your company does not operate in those languages.

Question 19 options:

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Question 20 (4 points)

The Ease of Doing Business index could help companies understand and analyze challenges in countries like India, such as

Question 20 options:

Number of deaths due to lack of clean water

Population growth

Access to water for development and local workforce

Access to electricity for industrial development

A common currency and harmonization of tax rates among member countries

A central government that overrules all sovereign nations in the union

Tariffs between countries in the EU

A confused marketplace with high barriers among members

Explanation / Answer

The European Union (EU) is considered an Economic Union because, in addition to the attributes of a Common Market, it also has:

Question 16 options:

A common currency and harmonization of tax rates among member countries

A central government that overrules all sovereign nations in the union

Tariffs between countries in the EU

A confused marketplace with high barriers among members

Ans.A Common currency and harmonization of tax rates among member countries: It’s an international organization with common economic, social and security policies among 28 countries, which are its member states.

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Question 17 (4 points)

A primary European Union standard that has been adopted by Turkey and other non-EU countries are the:

Question 17 options:

CE Mark

CCC Mark

WTO Stamp

EU Standards Mark

Ans. CE MARK-Conforming to European standards of quality and product parameters. It is essential for selling to European Union.

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Question 18 (4 points)

As with many companies in developing countries, Diageo had to navigate ethical issues and responsibilities in their market approach in Africa.  What was a primary issue that Diageo addressed with their product?

Question 18 options:

Health effects of alcohol in pregnant women

Hunger and poverty issues in Africa

Education levels of their employees

Risks of non-regulated alcohol production/consumption

Ans. Risks of non-regulated alcohol production/ consumption: Diageo self-imposed ethics and ensures educating youth through advertisement on the misuse of alcohol consumption. They target youth from 18-24-year-olds.

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Question 19 (4 points)

When utilizing a website for international marketing, it is important to have the site completely translated into as many languages as possible, even if your company does not operate in those languages.

Question 19 options:

True

False

Ans. True: Translating and giving many language options will promote international business.

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Question 20 (4 points)

The Ease of Doing Business index could help companies understand and analyze challenges in countries like India, such as

Question 20 options:

Number of deaths due to lack of clean water

Population growth

Access to water for development and local workforce

Access to electricity for industrial development

Ans. Access to electricity for industrial development: In addition, it is based on ease of local credit availability, protection of minority business and change in local regulation making it easy to follow the norms.

A common currency and harmonization of tax rates among member countries

A central government that overrules all sovereign nations in the union

Tariffs between countries in the EU

A confused marketplace with high barriers among members

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