Page 115 - Business Principles and Management

C HAPTER 4 A SSESSMENT

DETERMINE THE BEST ANSWER

13. The Pacific Rim includes countries on the western edge of the
Pacific Ocean such as
a. South Korea
b. Taiwan
c. China
d. all of the above
14. The arrangement in which one international company allows
another international company in another country to make and
sell products according to certain specifications is called
a. international joint venture
b. international licensing
c. international franchise
d. international partnership
15. Culture includes all of the following except
a. laws
b. customs
c. beliefs
d. values
16. A type of culture in which people communicate directly and explic-
itly, and a person is expected to come to the point directly and not
beat around the bush is a/an
a. direct culture
b. explicit culture
c. low-context culture
d. high-context culture
17. The international organization that creates and enforces the rules
governing trade among countries is the
a. United Nations
b. World Bank
c. World Trade Organization
d. International Monetary Fund
18. An agreement between two or more countries to remove all restric-
tions between them on the sales of goods and services, while impos-
ing barriers on trade and investment from countries that are not
part of it, creates a/an
a. free-trade zone
b. economic union
c. trade agreement
d. trading bloc
19. The way by which governments restrict the availability of foreign
goods, limiting the quantity or value of units permitted to enter a
country, is called
a. quota
b. sanction
c. limitation
d. restriction

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