1. Patents, inventions, formulas, processes, designs, copyrights, and trademarks
ID: 442520 • Letter: 1
Question
1. Patents, inventions, formulas, processes, designs, copyrights, and trademarks are all forms of _____
a. licensing agreements
b. franchising agreements
c. intangible property
d. tangible property
2. In an international transaction involving bank as a third party, the exporter ships the product after _____.
a. the bank receives materials from the importer
b. receiving cleared payment through bank
c. the importer has paid the bank
d. promises to pay on the importer's behalf
3. A _____ states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents.
a. bill of exchange
b. bill of lading
c. letter of credit
d. bank statement
4. Which of the following statements is true of turnkey projects?
a. Turnkey projects are most common in industries which use simple, inexpensive production technologies.
b. A turnkey strategy can be more risky than conventional FDI.
c. A turnkey strategy is particularly useful where FDI is limited by host-government regulations.
d. Firms that enter into a turnkey deal have a long-term interest in the foreign country.
5. Which of the following is a disadvantage of using a letter of credit (L/C)?
a. A letter of credit does not give protection to the importer.
b. A letter of credit does not give protection to the exporter.
c. The exporter cannot avail pre-export financing when using a L/C.
d. The importer must pay a bank fee for the letter of credit.
6. A draft used in international transactions _____.
a. is a document requesting payment
b. explains the conditions of a contract
c. is the same as a letter of credit
d. gives bank guarantee to an exporter
7. Many American firms that sold oil-refining technology to firms in the Gulf now find themselves competing with these firms in the world oil market. This is an example of:
a. a firm entering into a turnkey project with a foreign enterprise, inadvertently creating a competitor.
b. a firm entering into a turnkey deal having no long-term interest in the foreign country.
c. a country subsequently proving to be a major market for the output of the process that has been exported.
d. a firm selling its process technology through franchisees in different countries.
8. When an exporting firm finds that its local agent is also carrying competitors' products, the firm may switch to a _____ to handle local marketing, sales, and service.
A. wholly owned subsidiary
B. franchising arrangement
C. turnkey operation
D. licensing agreement
9. Under a(n) _____ agreement, a firm might license some valuable intangible property to a foreign partner, but in addition to a royalty 8. payment, the firm might also request that the foreign partner license some of its valuable know-how to the firm.
A. integrated licensing
B. chartering
C. franchising
D. cross-licensing
10. In theory, the advantage of EMCs is that they are _____.
a. managed by governments that provide export subsidies
b. not-for-profit organizations that provide free service
c. subsidized by the Department of Commerce
d. experienced specialists who can help the neophyte exporter.
1. The identification of distinct groups of consumers whose purchasing behavior differs from others in important ways is known as ____.
a. market segmentation
b. market penetration
c. diversification strategy
d. differentiation
2. A ____ retail system is one in which there are many retailers, no one of which has a major share of the market.
a. concentrated
b. consolidated
c. focused
d. fragmented
3. The way a product is delivered is determined by:
a. the firm's entry strategy.
b. the firm's product positioning.
c. the target market.
d. the market segments
4. Which of the following statements is true of products with high value-to-weight ratios?
a. Transportation costs usually account for a large percentage of their total costs.
b. They are relatively inexpensive and weigh a lot.
c. They are usually produced in multiple locations close to major markets.
d. Their transportation account for a very small percentage of the total costs.
5. The means a firm chooses for delivering the product to the consumer is its ____.
a. communication strategy
b. segmentation strategy
c. product attributes
d. distribution strategy
6. According to the concept of economies of scale, as plant output expands, _____.
a. productivity decline
b. total costs decrease
c. unit costs decrease
d. utilization of capital decline
7. If market segments transcend national borders:
a. the company should develop unique products for each national market.
b. the company can view the global market as a single entity and pursue a global strategy.
c. a localization strategy would be appropriate.
d. consumers will have differing purchasing behavior in different nations
8. Which of the following is a desired outcome of flexible manufacturing technology?
a. Minimizing the utilization of individual machines
b. Reducing setup times for complex equipments
c. Standardizing the output of a system
d. Implementing specialized equipments in production
9. _____ allows the company to produce a wider variety of end products at a unit cost that at one time could be achieved only through the mass production of a standardized output.
a. Standardization
b. Kaizen
c. Six Sigma
d. Lean production
10. In a concentrated retail system:
a. there are many retailers who have a major share of the market.
b. there are many retailers, no one of which has a major share of the market.
c. a few retailers supply a small segment of the market.
d. a few retailers supply most of the market.
Explanation / Answer
Given the above multiple choice options to fill in the blanks.
1 ) Patents, Inventions , formulas processes deisngs copyrights and trade marks are all forms of Intangible property.
2 ) In an International Transaction involving bank as a third party, the Exporter ships the product after , he promsies to pay on the importer's behalf.
3) A Bill of Exchange states that the bank will pay a specified sum of money to a beneficiary , normally the exporter, on the presentation of particular specified documents.
4) Which of the is true about Turnkey projects :
A Turnkey Strategy is particularly usefull where FDI is limited by host- Government regulations.
5) Which of the following is a disadvantage of using a letter of credit ( L/C) :
The importer must pay a bank fee for the letter of credit.
6) A Draft used in International Transactions is a document Requesting Payment.
7) Many American Firms that sold oil- refining Technology to firms in the Gulf, now find themselves competing with these firms in the world of oil market. This is an Example of a Firm entering into a Turnkey Project with a Foreign Enterprise, Inadvertently creating a competitor.
8) When an exporting firm finds that its local Agent is also carrying competitors's products, The firm may switch to a Wholly Owned Subsidiary.
9) Under a(n) Cross- Licensing Agreement, A firm might license some valuable Intangible Property to a foreign Partner, But in Addition to a royalty.
10 ) In Theory, the advantage of EMC's is that they are Experienced Specialists who can help the neophyte exporter.
___________________________________________________________
1 ) A Market Segmentation : The Identification of Distinct Groups of consumeres whose purchasing behavior Differs from others in important ways.
2) A Fragmented Retail system is one in which there are many retailers, no one of which has a major share of the market.
3) The way a product is deliverd is determined by : Firms's Entry Strategy.
4) Which of the following statements is true of products with High Value to Weight ratios
Their Transportation account for a very small Percentage of small Costs.
6) According to the concept of Economies of scale , As plant output expands The Unit Cost Decreases.
7 ) If Market segments transcend national borders : The Company can view the Global Market As a Single Entity and pursue a Global Strategy.
8) Which of the followingis a desired outcome of flexibility manufacturing Technology ?
Reducing Setup times for Complex Equipments.
9) Lean Production allows the company to produce a wide variety of end products at a unit cost that at time could be acheived only through the mass production of a standard output.
10 ) In a Concentrated retail System : A Few Retailers Supply most of the market.
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