Question 1 of 10 0.0/ 10.0 Points According to the International Product Life Cycle Theory, the country(ies) most likely to manufacture a product that has been recently developed (one that is the result of a brand-new design and uses patented technology) and is in its first commercialization year, is (are) ___. A.the country of innovation only B.developing countries Incorrect C.any country with the manufacturing technology necessary to manufacture it D.other developed countries E.None of the above
Answer Key: A Feedback: Rationale: According to Vernon, the only country in which products that are newly developed are manufactured is the country of innovation. The manufacturing eventually shifts to other developed countries and then to developing countries.
REF: 1-5d Question 2 of 10 0.0/ 10.0 Points Information on foreign countries, including their economic environment, their political environment and their geography, can easily be found in several publications. Which is not one of the organizations that publishes background information on countries? A.The Economist’s Intelligence Unit B.The Central Intelligence Agency C.The U.S. Department of Commerce D.The United Nations’ UNICEF Incorrect E.None of the above
Answer Key: D Feedback: Rationale: All of these options are explicitly listed in Section 1-6, except the UNICEF, which is the United Nations’ Children’s Fund (changed from the United Nations’ International Children’s Emergency Fund in the 1950s).
REF: 1-6 Question 3 of 10 10.0/ 10.0 Points Which one was NOT one of the characteristics of the “early days” of logistics? A.an emphasis on making sure that the goods arrived in good condition B.an emphasis on low-cost transportation C.long transit times Correct D.an emphasis on customer satisfaction E.None of the above
Answer Key: D Feedback: Rationale: All of the answers are mentioned, but “customer satisfaction” is mentioned as characteristic of the modern concept of logistics.
REF: 2-1a and 2-1c Question 4 of 10 10.0/ 10.0 Points It is not unusual for companies shipping to large manufacturers and retail chains to be penalized financially (not receiving the full invoice amount) for not ___. A.shipping the correct goods B.shipping the goods in the right quantity C.shipping the entire order at once Correct D.delivering the goods on the day and at the time promised E.None of the above
Answer Key: D Feedback: Rationale: Just-in-time deliveries have to be made at specific times, and suppliers not delivering within these time windows are penalized
REF: 2-1c Question 5 of 10 10.0/ 10.0 Points Of the following, the best definition of a logistics infrastructure would be that it consists of ___. Correct A.all of the elements in place to facilitate transportation, communication, and business exchanges B.a country’s electrical supply and road network C.the amount of computerization a country has D.a developed banking system E.None of the above
Answer Key: A Feedback: Rationale: A country’s electrical supply and road network, the amount of computerization a country has, and a developed banking system are incomplete answers. Option “all of the elements in place to facilitate transportation, communication, and business exchanges” incorporates all aspects of logistics infrastructure.
REF: 3-1 Question 6 of 10 10.0/ 10.0 Points The busiest cargo airport in the world is ___. A.London Heathrow B.Denver International C.Chicago O’Hare D.Dallas-Fort Worth International Correct E.None of the above
Answer Key: E Feedback: The busiest cargo airport in the world is Memphis.
REF: 3-2c Question 7 of 10 10.0/ 10.0 Points In the European Union, the goal for mail delivery sent to a national address is ___. A.two days B.three days Correct C.D + 1 D.D + 2 E.None of the above
Answer Key: C Feedback: Rationale: The goal is D + 1, or delivery on the day after the letter is mailed.
REF: 3-3a Question 8 of 10 10.0/ 10.0 Points An export management company earns its revenue through ___. Correct A.sales commissions B.receiving quantity discounts by buying in bulk and reselling products at a higher price C.charging fixed fees to exporters D.All of the above E.None of the above
Answer Key: A Feedback: Rationale: An export management company is an agent, therefore it is paid by commission.
REF: 4-2b Question 9 of 10 0.0/ 10.0 Points Because agents tend to be individuals or very small firms, governments in some countries put them under ___. A.high tariffs B.labor law C.contract law D.maritime law Incorrect E.None of the above
Answer Key: B Feedback: Rationale: Because agents are small businesses, some governments feel they should be protected from exploitation by large exporters, so they are placed under labor law, which is the code of laws that deals with the relationships between employers and employees. Distributors, on the other hand, because they are larger and are assumed to be more sophisticated, are placed under contract law.
REF: 4-3c Question 10 of 10 10.0/ 10.0 Points When a firm realizes that it wants to exploit the possibilities that sales abroad can bring, and decides to become directly involved in its exporting activities, it is said to be involved in ___. A.indirect exporting B.parallel imports C.foreign trade zones Correct D.active exporting E.None of the above
Answer Key: D Feedback: Rationale: Only active exporting is correct, as the company becomes involved in export activities.
REF: 4-3
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