ECON 14 REMEDIAL EXAM

Globalization brought multiple advantages to nations and citizens. It helps to lift poverty, raise wages and increased the standard of livings.

• True

• False

Which is the correct illustration of global localization, adaptation?

• Think globally, act locally

• Think locally, act globally

Answer explanation

Think globally, act locally urges businesses to adapt their products to suit individual localised audiences.

E.g., Coca-cola brand is global, but it must also be locally relevant to each individual market it serves by adapting to its marketing strategies such as promotional languages, and tactics.

An agreement that allows one company to use the trademarked property of another company to manufacture and sell its own products

• Licensing

• Licensor

This is the legal right granted to an individual (or group) to operate a business as if it were part of a larger chain of stores.

• franchise
• patent

What is a royalty?

• A business award by the queen
• A type of business
• A payment to a franchisor

More expansion of foreign direct investment can boost:

• Unemployment

• Supply

• Employment

• Money circulation

What is Foreign direct investment?

• This is when a country makes an investment into a company.

• This is when a company makes an investment into a foreign country and has the right to control.

• When a domestic country invest into its own companies.

• When a foreign individual invest in domestic stock markets

Foreign Direct Investment or FDI occurs when a company from one country invests in another country as an effort to secure lasting interest in the other country's enterprises to produce and/market a product or service.

• True

• False

What is international marketing?

• Obtaining customers from another country.

• Obtaining customers from your own country.

• Satisfying customers from abroad.

• Satisfying customers from your own country.

What is export?

• Sending your product from Dongguan to Guangzhou.

• Sending your product to the moon.

• Sending our product to another country.

• Destroying your product.