1) The cell phone divisions of Toshiba, Sharp, and other Japanese companies prospered by focusing on the domestic market. When handset sales in Japan slowed a few years ago, the Japanese companies realized that Nokia, Motorola, and Samsung already dominated key world markets. Atsutoshi Nishida, president of Toshiba, noted, "We were thinking only about Japan. We really missed our chance." This example illustrates:
geocentric orientation.
regiocentric orientation.
polycentric orientation.
ethnocentric orientation.
poor globalization orientation.

2) Starbucks is building on its loyalty card and rewards program in the United States with a smartphone app that enables customers to pay for purchases electronically. The app displays a bar code that the barista can scan. This is an example of:
Answer
Market Penetration.
Market Development.
Market Diversification.
Product Development.
Global Marketing.

3) Slumdog Millionaire, a movie which received several awards and an Oscar in 2009, was filmed on a location in and around:
London.
San Francisco.
Cancun.
Mumbai.
Moscow.

4) Renault and its rivals are racing to offer middle-class consumers a new value proposition by selling cars for the equivalent of $10,000 or less. On the heels of Renault's success with Dacia Logan comes the $2,500 Nano from India's Tata Motors. This illustrates that:
consumers are looking for low price irrespective of quality.
Renault is overcharging for their cars compared to their competitors.
higher product development costs are a driving force behind globalization.
market success depends on reaching a threshold of acceptable quality for consumers.
cars are not very popular in emerging markets like India.

5) Which of the following nations fall in the lower-middle-income category?
Burundi
Bangladesh
China
Venezuela

6) The Swedish government has significant holdings in key business sectors and has a hybrid economic system that incorporates:
market capitalism and centrally planned socialism.
centrally planned socialism and market socialism.
centrally planned socialism and capitalism.
market socialism and market capitalism.
market capitalism and socialistic capitalism.

7)Upper-middle-income countries that achieve the highest rates of economic growth are sometimes referred to collectively as:
LDCs.
BEMs.
BRICs.
NIEs.
BOPs.

8)The form of economic cooperation that calls for 1) eliminating internal barriers to trade and 2) establishing common external barriers is known as a(n) ________.
Answer
Free trade area
Economic union
Customs union
Free trade area
Common market

9)The World Trade Organization, which came into existence on January 1, 1995, is the successor of another organization with the abbreviation:
DSB.
GATT.
FTAA.
NAFTA.
ASEAN.

10)The Middle East and North Africa are sometimes viewed as a regional entity referred to as:
CC.
AMU.
MENA.
ACC.
ECOWAS.