1. The relative bargaining power of suppliers is high when:

A. Suppliers offer products that are undifferentiated.

B. Incumbent firms face low supplier switching cost.

C. Suppliers depend heavily on the industry for a large portion of their revenues.

D. Suppliers can credibly threaten to forward integrate into the industry.

2. Wayne works at an overseas branch in East Asia. He needs some clarification about a project. He approaches a senior manager hoping to get a good explanation. However, he is sent away. He is also informed that only the team leads are allowed to approach the senior managers. In this scenario, the country is most likely to have a _____ score.

A. high Individualism index

B. high power distance index

C. high uncertainty avoidance index

D. high masculinity index

3. Most traditional definitions of _____ center around the notion that it is a system of shared values, norms and taken-for-granted assumptions that are learned, shared by a group of people, and transmitted from generation to generation.

A. culture

B. demography

C. sensitivity

D. economy

4. The United States' growing trade deficit reflects a number of factors which exclude:

A. the services trade surplus.

B. increased imports from China.

C. decreased export sales to developing countries.

D. the enormous cost of military operations in the Middle East.

5. Which of the following is true of a sovereign state?

A. It enjoys full legal equality with other states.

B. Its political and economic systems are determined by the United Nations development program.

C. Its territory is governed by the United Nations.

D. It is obligated to be a member of the World Trade Organization.