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web.groovymark@gmail.com
- December 7, 2024
Question 01
Which human resource approach leads to more fluid movement among employees and creates diversity in the workforce?
a) Ethnocentric
b) Polycentric
c) Geocentric
d) Regiocentric
Answer: c) Geocentric
Explanation:
The geocentric approach allows for a more fluid movement of employees across borders and promotes diversity as assignment decisions are made jointly by headquarters and field offices.
Question 02
Worldwide interconnections in virtually every sphere of activity, including the spread of products, technology, information, and job opportunities, describe which process?
a) Localization
b) Globalization
c) Nationalization
d) Regionalization
Answer: b) Globalization
Explanation:
Globalization involves the increasing interconnectedness of economies, cultures, and societies across the globe, leading to a more integrated world market.
Question 03
The action of buying and selling goods and services is referred to as:
a) Bartering
b) Leasing
c) Trade
d) Sharing
Answer: c) Trade
Explanation:
Trade is the fundamental economic concept involving the buying and selling of goods and services.
Question 04
Financial assets such as funds, equipment, facilities, and other means of production are known as:
a) Liabilities
b) Equity
c) Debt
d) Capital
Answer: d) Capital
Explanation:
Capital refers to financial resources or assets that businesses use to fund operations and generate revenue.
Question 05
To obtain goods or services from an outside or foreign supplier is known as:
a) Insourcing
b) Licensing
c) Franchising
d) Outsourcing
Answer: d) Outsourcing
Explanation:
Outsourcing involves contracting with third-party companies, often located in foreign countries, to supply goods or services.
Question 06
Not-for-profit organizations that are independent of the government and are active in humanitarian causes are called:
a) Social enterprises
b) Nongovernmental organizations (NGOs)
c) Cooperatives
d) Public enterprises
Answer: b) Nongovernmental organizations (NGOs)
Explanation:
NGOs operate independently of governments and are focused on addressing humanitarian and social issues.
Question 07
Which type of globalization refers to the international movement of goods, capital, and services?
a) Political
b) Economic
c) Cultural
d) Technological
Answer: b) Economic
Explanation:
Economic globalization refers to the global integration of markets, trade, and finance, enabling the movement of goods, capital, and services across borders.
Question 08
What term protects inventions and improvements to existing inventions for a limited period in exchange for detailed public disclosure?
a) Trademarks
b) Patents
c) Copyrights
d) Trade secrets
Answer: b) Patents
Explanation:
Patents grant exclusive rights to inventors to protect their inventions from being used or sold by others for a specific period.
Question 09
A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period is called:
a) Patent
b) Trademark
c) Copyright
d) License
Answer: c) Copyright
Explanation:
Copyright protects original works of authorship, such as literary, musical, and artistic works, giving the creator exclusive rights over the use and distribution of their work.
Question 10
Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish goods of one manufacturer or seller is called:
a) Patent
b) Copyright
c) Trademark
d) Franchise
Answer: c) Trademark
Explanation:
A trademark protects the branding and identity of a product or service, ensuring that others cannot use similar marks that could cause consumer confusion.
Question 11
A useful or valuable thing, such as a building, inventory, or cash, is called:
a) Liability
b) Asset
c) Equity
d) Revenue
Answer: b) Asset
Explanation:
Assets are resources owned by a company that are expected to bring future economic benefits, such as property, equipment, and cash.
Question 12
Being responsible for a debt or financial obligation is called:
a) Liability
b) Asset
c) Credit
d) Equity
Answer: a) Liability
Explanation:
A liability is something a company owes, typically money, such as loans, accounts payable, or mortgages.
Question 13
A monetary contract between parties is known as:
a) Bond
b) Loan
c) Equity
d) Financial instrument
Answer: d) Financial instrument
Explanation:
Financial instruments are contracts that create financial assets for one party and liabilities or equity for another.
Question 14
A large corporation incorporated in one country that produces or sells goods or services in various countries is referred to as:
a) National firm
b) International franchise
c) Multinational firm
d) Local corporation
Answer: c) Multinational firm
Explanation:
Multinational firms operate in multiple countries, producing or selling goods and services across borders.
Question 15
The first stage of going global, when companies enter new countries using business models similar to those deployed in their home markets, is called:
a) Product specialization
b) Market entry
c) Value chain disaggregation
d) Value chain reengineering
Answer: b) Market entry
Explanation:
Market entry is the initial stage of global expansion where businesses start selling their products or services in new foreign markets.
Question 16
A proportionate saving in costs gained by an increased level of production is known as:
a) Economies of scope
b) Economies of scale
c) Cost leadership
d) Vertical integration
Answer: b) Economies of scale
Explanation:
Economies of scale occur when businesses reduce their per-unit costs by increasing their overall production volume.
Question 17
Developing efficiencies in terms of variety rather than volume is referred to as:
a) Economies of scale
b) Economies of scope
c) Vertical integration
d) Cost leadership
Answer: b) Economies of scope
Explanation:
Economies of scope occur when businesses can reduce costs by offering a broader range of products, utilizing shared resources.
Question 18
Which type of globalization driver is a CEO using if they focus on economies of scale and scope to increase profits?
a) Market
b) Cost
c) Competition
d) Government
Answer: b) Cost
Explanation:
The cost driver of globalization includes efforts to reduce production costs, often through achieving economies of scale and scope.
Question 19
What challenge to international business expansion is presented when a country offers low labor costs but has poor road conditions?
a) Tariffs
b) Infrastructure
c) Political risk
d) Legal barriers
Answer: b) Infrastructure
Explanation:
Poor infrastructure, such as badly maintained roads, can be a major challenge for businesses, affecting logistics and the supply chain.
Question 20
A method that provides tools for organizations to increase performance and decrease process variation is called:
a) Lean manufacturing
b) Total Quality Management (TQM)
c) Six Sigma
d) Kaizen
Answer: c) Six Sigma
Explanation:
Six Sigma is a data-driven approach used to eliminate defects and improve quality by reducing process variability.
