Question61. The term dumping refers to the sale of

61. The term dumping refers to the sale of
a) products sold in foreign markets that cannot be sold in the United States.
b) products sold in foreign markets at prices above those charged in the United States.
c) all discontinued U.S. products in foreign countries.
d) products sold in foreign countries at unfairly low prices.
e) products sold in foreign markets that cannot pass safety standards in the United States.
62. If Hyundai, a Korean automobile manufacturing firm, started selling its cars at unfairly low
prices to Germany, Hyundai would be engaging in
a) quota-enforcing.
b) embargoing.
c) shoveling.
d) dumping.
e) dipping.
63. The World Trade Organization accomplishes all of the following except
a) educating companies about international trade rules.
b) lending money to businesses interested in developing international markets.
c) serving as a forum for trade negotiations.
d) helping settle trade disputes.
e) providing legal ground rules for international commerce.
64. At the heart of the ____ are agreements that provide legal ground rules for international
commerce and trade policy.
a) United Nations
b) GATT
c) MERCOSUR
d) WTO
e) APEC
65. When a firm’s products sell in foreign countries with little or no effort to obtain foreign
sales, the firm is engaging in
a) international marketing.
b) global marketing.
c) limited exporting.
d) product licensing.
e) unplanned exporting.
66. Miller’s Home Furnishings uses marketing strategies aimed at markets within the United
States, its home country. Miller’s engages in
a) domestic marketing.
b) localized marketing.
c) globalized marketing.
d) limited exporting.
e) international marketing.
67. Which of the following lists the levels of involvement in global marketing from the lowest to
the highest?
a) International marketing, limited exporting, domestic marketing, globalized marketing
b) Limited exporting, domestic marketing, globalized marketing, international marketing
c) Globalized marketing, international marketing, limited exporting, domestic marketing
d) Domestic marketing, globalized marketing, international marketing, limited exporting
e) Domestic marketing, limited exporting, international marketing, globalized marketing
68. The purchase of products from a foreign source is called
a) exporting.
b) dumping.
c) importing.
d) licensing.
e) venturing.
69. When the American company Exxon purchases crude oil from Saudi Arabia, it is engaging in
a) licensing.
b) importing.
c) free trade.
d) exporting.
e) dumping.
70. Henderson Synthetics’ management believes that several of the firm’s products could have
sizable markets in other countries. To maintain a low level of commitment with minimum effort and
cost, Henderson should engage in international marketing through
a) contract manufacturing.
b) exporting.
c) joint ventures.
d) licensing.

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