Question 1

Alexia is geographically large and represents a sizable market for a wide range of products. It has a strong growth rate and is considered as the regional economic driver. Based on this information, Alexia can be classified as a _____.

Accepted Answer

A)   grey market
B)   big emerging market
C)   two-sided market
D)   frontier market
E)   niche marketF) D) and E)
G) B) and C)

Question 2

Bahamas is a member of _____.

Accepted Answer

A)   CARICOM
B)   NAFTA
C)   CFTA
D)   LAIA
E)   MercosurF) B) and E)
G) A) and D)

Question 3

Which of the following statements is true about NAFTA?

Accepted Answer

A)   It allows the use of standards and technical regulations as obstacles to trade.
B)   It was ratified and became effective in the year 2000.
C)   It prohibits U.S. and Canadian financial institutions to open wholly owned subsidiaries in Mexico.
D)   Its provisions require goods to contain minimum of 10% North American content to be traded duty free.
E)   Its provisions require Canada, Mexico, and the United States to implement uniform customs procedures and regulations.F) A) and C)
G) B) and E)

Question 4

Which of the following kinds of market sectors is also known as the "new middle class"?

Accepted Answer

A)   The traditional sector
B)   The modern sector
C)   The rural services sector
D)   The transitional sector
E)   The agricultural sectorF) C) and D)
G) A) and D)

Question 5

What is occurring in the BEMs is analogous to the situation after World War II when tremendous demand was created during the reconstruction of Europe.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is the second-largest common-market agreement in the Americas?

Accepted Answer

A)   CFTA
B)   NAFTA
C)   Mercosur
D)   DR-CAFTA
E)   SAFTAF) A) and B)
G) B) and C)

Question 7

What is happening in BEMs today is analogous to what happened in:

Accepted Answer

A)   Saudi Arabia in the 1800s.
B)   India during the rule of the British Empire.
C)   Russia after the fall of the Czar.
D)   Europe after World War II.
E)   Iraq between 1890 and 1990.F) C) and D)
G) B) and D)

Question 8

The DR-CAFTA includes a wide array of tariff reductions aimed at increasing trade and employment.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following treaties provided the legal basis for Mercosur?

Accepted Answer

A)   The Treaty of Verdun
B)   The Treaty of Asunción
C)   The Treaty of Westphalia
D)   The Treaty of Versailles
E)   The Treaty of MontevideoF) C) and D)
G) A) and E)

Question 10

Which of the following is NOT one of the factors directly changing the way countries trade and prosper in the twenty-first century?

Accepted Answer

A)   The transition from socialist to market-driven economies
B)   Liberalization of trade and investment policies in developing countries
C)   The transfer of public-sector enterprises to the private sector
D)   The rapid development of regional market alliances
E)   The increase in military capabilities of countries around the worldF) A) and D)
G) B) and C)

Question 11

In static economies, consumption patterns change rapidly.

Accepted Answer

A) True 
 B)False

Question 12

Newly industrialized countries (NICs)  differ from less-developed countries in that NICs:

Accepted Answer

A)   include Canada, the United States, and Germany.
B)   attract insignificant or no foreign investment.
C)   have per capita incomes that are lower than other developing countries.
D)   have moved away from restrictive trade practices and instituted significant free market reforms.
E)   have shown slow industrialization and expansion of targeted industries.F) A) and D)
G) None of the above

Question 13

Why was Caribbean Community and Common Market (CARICOM) created? What are its goals?

Accepted Answer

The success of the Caribbean Free Trade ...

Question 14

The transitional sector differs from the modern urban sector in that the transitional sector:

Accepted Answer

A)   is an exclusively agriculture-oriented sector.
B)   consists of population that works in the country side.
C)   consists of an expanding Westernized middle class.
D)   represents the high-income urban slums.
E)   consists of population that moves from the country to the large cities.F) B) and D)
G) All of the above

Question 15

Which of the following statements is true about MDCs (more-developed countries) ?

Accepted Answer

A)   These countries are just entering world trade.
B)   Majority of their populations stay in rural areas.
C)   These countries have high per capita incomes.
D)   These countries have little world trade involvement.
E)   These countries have mainly agrarian economies.F) C) and E)
G) C) and D)

Question 16

Estimating market potential in less-developed countries involves additional challenges, but most of the difficulty arises from the _____.

Accepted Answer

A)   coexistence of three distinct kinds of markets in each country
B)   dependence of the markets on the industrialized sectors
C)   lower wage rates of the workforce
D)   high fluctuation in the currency rate
E)   higher concentration of population residing in the urban areasF) A) and D)
G) A) and E)

Question 17

Which of the following is considered as the single most important environmental element of a country to which the foreign marketer must adjust the marketing task?

Accepted Answer

A)   Political stability
B)   Economic level
C)   Social norms
D)   Literacy level
E)   Cultural orientationF) A) and C)
G) A) and E)

Question 18

Describe the political and economic changes affecting global marketing.

Accepted Answer

Not many years ago, large parts of the d...

Question 19

A market in which the only marketing function performed is exchange is most likely to be classified under the _____ stage.

Accepted Answer

A)   surplus commodity product
B)   commercial-transition
C)   mass production
D)   mass distribution
E)   self-sufficientF) None of the above
G) A) and E)

Question 20

Which of the following countries has 100 percent literacy rate?

Accepted Answer

A)   Mexico
B)   Canada
C)   Colombia
D)   Argentina
E)   PeruF) C) and D)
G) All of the above

Exam 9: Economic Development and the Americas

Estimating market potential in less-developed countries involves additional challenges, but most of the difficulty arises from the _____.

Correct AnswerverifiedShow Answer

The transitional sector differs from the modern urban sector in that the transitional sector:

Correct AnswerverifiedShow Answer

Which of the following countries has 100 percent literacy rate?

Correct AnswerverifiedShow Answer

What is occurring in the BEMs is analogous to the situation after World War II when tremendous demand was created during the reconstruction of Europe.

Correct AnswerverifiedShow Answer

Which of the following kinds of market sectors is also known as the "new middle class"?

Correct AnswerverifiedShow Answer

Which of the following statements is true about MDCs (more-developed countries) ?

Correct AnswerverifiedShow Answer

Newly industrialized countries (NICs) differ from less-developed countries in that NICs:

Correct AnswerverifiedShow Answer

Which of the following is the second-largest common-market agreement in the Americas?

Correct AnswerverifiedShow Answer

Which of the following is considered as the single most important environmental element of a country to which the foreign marketer must adjust the marketing task?

Correct AnswerverifiedShow Answer

Bahamas is a member of _____.

Correct AnswerverifiedShow Answer

What is happening in BEMs today is analogous to what happened in:

Correct AnswerverifiedShow Answer

Why was Caribbean Community and Common Market (CARICOM) created? What are its goals?

Correct AnswerverifiedThe success of the Caribbean Free Trade ...View AnswerShow Answer

Which of the following statements is true about NAFTA?

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the factors directly changing the way countries trade and prosper in the twenty-first century?

Correct AnswerverifiedShow Answer

The DR-CAFTA includes a wide array of tariff reductions aimed at increasing trade and employment.

Correct AnswerverifiedShow Answer

Alexia is geographically large and represents a sizable market for a wide range of products. It has a strong growth rate and is considered as the regional economic driver. Based on this information, Alexia can be classified as a _____.

Correct AnswerverifiedShow Answer

Which of the following treaties provided the legal basis for Mercosur?

Correct AnswerverifiedShow Answer

A market in which the only marketing function performed is exchange is most likely to be classified under the _____ stage.

Correct AnswerverifiedShow Answer

In static economies, consumption patterns change rapidly.

Correct AnswerverifiedShow Answer

Describe the political and economic changes affecting global marketing.

Correct AnswerverifiedNot many years ago, large parts of the d...View AnswerShow Answer

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The success of the Caribbean Free Trade ...
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Not many years ago, large parts of the d...
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