Question

1. Sentoria is an island nation in the Pacific Ocean. Its geographical location is advantageous since it has access to a variety of aquatic life forms and also a number of freshwater sources that provide for fisheries. The lack of arable land drives local demand for seafood, and Sentoria is one of the world's major exporters of this product. Which theory of international trade best explains Sentoria's dominance as an exporter of seafood?

a. new trade theory

b. mercantilism

c. product life-cycle theory

d. Heckscher-Ohlin theory

e. Strategic Rivalry theory

2. Three Latin American countries enter into an agreement to remove all tariffs and trade barriers on goods and services between them. They decide on a common external trade policy and charge the same tariffs to nonmembers. Based on the information provided, which level of economic integration best describes this arrangement?

a. common market

b. monetary union

c. economic union

d. political union

e. customs union

3. In _____________ cultures, communication is heavily dependent upon nonverbals, gestures, and "reading between the lines".

a. high-context

b. Confucian

c. feminine

d. collective

e. low-context

4. Which of the following is NOT part of Hall's framework of the 5 'Silent Languages' of international business?

a. agreements

b. friendships

c. possessions

d. time

e. social classes

Answer 1

Q1 option d that is Heckscher ohlin theory

Which states that a country should export in the good in which it has highest efficiency and plentiful to produce in order to get benefits Or gains from trade .

Q2 option e tht is custom union

Custom union is the free trade agreement between countries and common tariff policy against non member countries. For eg European Union

Q3 option a that is high context culture (HCC)

According to hall, HCC are those where communication is implicit tht is gestures, social customs ,silence atc

Low context cultures are explicit verbal messages both oral and written

Q4 option e that is social classes

Acc to hall, 5 silensilent languages of international business are

1- language of time

2- language of space

3- language of things i.e language of possession

4- language of friendship

5- language of agreements