1. A country barters the surplus coffee beans it grows for other agricultural products grown in a neighboring country. There is no exchange of currency between these countries. The type of business arrangement between the two countries can be regarded as a(n) _____.

a) countertrade arrangement

b) cartel arrangement

c) embargo

d) dumping arrangement

e) franchise

2. Which of the following is true of export agents?

a) They usually produce goods themselves.

b) They usually handle domestic transactions for firms.

c) They never take products on consignment.

d) They are responsible for storage and transportation of a product they sell.

e)They are not interested in making a profit for services they provide.

3. In international business, an advantage of trading through an export agent instead of directly is that the company does not have to deal with:

a) a middleman.

b) rising labor prices.

c) foreign currencies.

d) the problem of providing discounts.

e) the procurement of resources.

4. Which of the following is an example of a global strategy?

a) McDonald's in Vietnam offering McPork sandwiches specifically for Vietnam consumers

b) Consumer electronics companies developing different marketing strategies for different foreign markets

c) Starbucks standardizing its products across the United States and other countries

d) General Motors creating electric vehicles specifically for the Chinese market

e) International fast food chains refraining from using pork or beef only in the Indian market