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Coastline bus150 M07-08 Quiz Chapter 7 and 8 Quiz latest 2017
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Question 1

When a business pays for the use of an equipment owned by an outside supplier for a specified period of time, the process is known as:




supply inversion.

Question 2

The agreements that set terms for various aspects of commercial relations with other countries such as the right to conduct business in the treaty partner's domestic market are called _____.

treaty of establishment, commerce and navigation

free trade agreements

friendship, commerce, and navigation treaties

trade and investment framework agreements

Question 3

Which of the following trade barriers puts a complete ban on the import of specified products?


Import quota

Revenue tariff


Question 4

The _____ is a trade bloc that establishes a free-trade area and a uniform tariff for trade with nonmember nations.

customs union

cooperation council

common area of administration

common market

Question 5

Which of the following is true regarding leasing needed products from other organizations?

It increases the sunk costs incurred by a firm.

It requires a high level of capital commitment.

It makes it difficult for a firm to customize the product according to their needs.

It provides flexibility for a growing business allowing it to easily upgrade when needed.

Question 6

The linkage between demand for a company's output and its purchases of resources such as machinery, components, supplies, and raw materials is referred to as a(n) _____.

derived demand

inelastic demand

joint demand

versatile demand

Question 7

Which of the following actions generally helps marketers encounter new products, new approaches to distribution, or clever new promotional ideas?


Developing core values

Market penetration

Product standardization

Question 8

Which of the following stages of the organizational buying process involves comparing vendors' proposals?

Evaluating proposals and selecting suppliers

Searching for potential sources

Recognizing and determining the characteristics of a need

Acquiring and analyzing proposals

Question 9

Praga is an automobile manufacturing company that makes cars. Praga buys steel, aluminum, paints, car engines and other necessary components from various suppliers around the world and assembles them together to make a final product. Praga belongs to the _____ component of the business-to-business market.


commercial market

governmental organizations

trade industries

Question 10

A global marketing strategy differs from a multidomestic marketing strategy in that the global marketing strategy:

is tailored to meet the specific needs of the target markets in each nation.

is a standardized marketing mix that can be used in all markets with minimal modifications.

is ideal for highly differentiated products or products that are designed on the basis of local preferences.

does not bring the advantage of economies of scale to production and marketing activities.



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