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BUSI 604 Test 1 (Set-1), Questions And Answers, Liberty University
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BUSI 604 Test 1 (Set-1), Questions And Answers, Liberty University
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BUSI 604 Test 1 Question 1
2 out of 2 points
The global business manager must possess a strong international
awareness and must understand the unique factors that contribute to
the success of a global business, including formal education.
Selected Answer: True
Question 2
2 out of 2 points
When a firm in one nation exchanges products, services, resources, or
capital with a firm located in another nation, this exchange constitutes
a(n) (_________).
Selected Answer: international transaction
Question 3
2 out of 2 points
(_____) are much more narrowly defined than knowledge areas in that
they represent quantifiable measures.
Selected Answer: Skills
, Question 4
2 out of 2 points
The North American Free Trade Agreement was enacted to provide
uniform standards and rules of engagement to a growing international
trade market.
Selected Answer: False
Question 5
2 out of 2 points
Ownership control risk can be defined as the risk of monetary losses
resulting from inadequate or failed internal processes, people, and
systems.
Selected Answer: False
Question 6
2 out of 2 points
The Industrial Revolution heralded the introduction of mass
production, improved transportation, technological progress, and the
industrial factory system.
Selected Answer: True
Question 7
2 out of 2 points
Sanctions refer to the taxes on imported goods.
Selected Answer: False
Question 8
2 out of 2 points
, Embargoes are defined as the prohibition of commerce and trade with
a certain nation.
Selected Answer: True
Question 9
0 out of 2 points
Taiwan has emerged as a cost-leading manufacturer of products
ranging from consumer goods to industrial equipment.
Selected Answer: True
Question 10
2 out of 2 points
(___) occurs when a firm expands its business into different products
that are not similar to current lines.
Selected Answer: Diversified integration
Question 11
2 out of 2 points
ISO standards are designed to be implemented worldwide.
Selected Answer: True
Question 12
2 out of 2 points
The international market removes the boundaries of local market
territories, thereby decreasing the potential market audience
Selected Answer: False
Question 13
2 out of 2 points
Significant fluctuations in (__________) can reduce the actual value
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