408 Exam 3 Review

Which driver of globalization does NOT belong in the following list?

• Global media
• Global rise of the BRICS
• Global communication technology and access to the internet
• Global decline of anti-globalization movements

The word ‘glocalization’ is most wholly defined as

• global market growth and unlimited local reach for revenue generation
• global marketing strategies with local green marketing
• describes global activities with a strong adaptation to local circumstances and local activities connecting to global circumstances
• global management and strong local units

Offshoring

• Is the preferential sourcing of activities for small and medium enterprises at the base of the pyramid
• Means that some activity used to be done in a location close to a company’s home country, but are now done in a more distant location
• Is the process of procuring inputs used throughout the supply chain internationally
• Refers to a model where a company chooses a third-party company to provide a needed service or process

An manager of an American firm is confident that policies and practices in their other global branches should be identical to those of the home location. What glocalization stance is he taking?

• Ethnocentric
• Polycentric
• Regiocentric
• Geocentric

What is the Foreign Corrupt Practices Act (FCPA)?

• A law that prohibits U.S. companies from engaging in corrupt practices outside of the United States.
• A law that regulates the import and export of goods and services across international borders.
• A law that requires U.S. companies to pay foreign officials in order to conduct business abroad.
• A law that encourages U.S. companies to engage in bribery and corruption in foreign countries.

What is a grease payment?

• A payment made to a government official in exchange for a contract or favorable decision.
• A payment made to a third-party intermediary to expedite a routine service or process.
• A payment made to an individual or organization as a donation or gift, without expectation of a specific favor or service.
• A payment made to an official or employee of a company in exchange for preferential treatment or services.

How does the Consumer's Right to Choose benefit the economy?

• It allows businesses to set prices arbitrarily
• It encourages competition among businesses
• It eliminates the need for consumer protection laws
• It makes it easier for businesses to make profits

Which of the following rights is protected by the Consumer's Bill of Rights when making purchases?

• The right to force a seller to sell a product at a lower price
• The right to refuse to pay for products and services received
• The right to receive products and services that meet basic standards of quality
• The right to take advantage of discounts and promotions even after they have expired

Which of the following is an example of a violation of the Consumer's Right to Choose?

• A company offering a variety of products for customers to choose from
• A salesperson making recommendations for products based on customer preferences
• A business monopolizing a certain market, limiting the choices available to consumers
• A seller setting a high price for a product that is in high demand

What is the role of the Federal Trade Commission?

• To regulate the stock market
• To investigate crimes committed by businesses
• To protect consumers from unfair and deceptive business practices
• To enforce international trade agreements