自考国际商务英语课后题

一、
What does international business refer to? Please tell the difference between international business and domestic business.
1. International business refers to transactions between parties from diffirent countries.
There are four major diffrences between international business and domestic business:
1)differences in legal system
2)differences in currencies
3)differences in cutural background
4)differences in natural and economic conditions
Please explain the differences between visible trade and invisible trade. Which is becoming more and more important and accounts for an increasing proportion in international trade?
modity trade, i.e exporting and importing goods produced or manufactured in one
country for consumption or resale in another. This kind of trade is also referred to visible trade.
Invisible trade is in the form of transportation, communication, banking, insurance, consulting, information etc. Invisible trade is becoming more and more important and accounts for an increasing proportion in international trade.
Can you cite some examples to illustrate cultural differences in international business?
3.Cultural differences including language, customs, traditions, religion, value, behavior etc. Please elaborate on the two categoreis of international investment. What is their major difference?
4.Foreign direct investments or FDI for short is made for returns through controlling the
enterprises or assets invested in in a host country.
Portfolio investment refers to purchases of foreign financial assets for a purpose other than controlling.
What is licensing? Why do firms sometimes choose it as means of entering a foreign market?
5.In licensing, a firm leases the right to use its intellectual property to a firm in another country.
Firms choose licensing because they do not want to make cash payments to start business, and can simply receive income in the form of royalty. Besides, they can benefit from locational advanteges of foreign operation without any obligations in ownership or management.
What is franchising? How is it different from licensing?
6.Under franchising, a fim, called the franchisee, is allowed to operate in the name of another,
called the franchiser who provides the former with trademarks, brand name, logos, and operating techniques for royalty.
In comparision with the relation between the licenser and the licensee, the franchiser has more control over and provides more support for the franchisee.
What is a management contract? Under what conditions is it most applicable?
7.Under a management contract, one company offers managerial or other specialized services to
another within a particular period for a flat payment or a percentage of the relevant business volum.
When a government forbids foreign ownership in certain industries it considers to be of strategic importance but lacks the expertise for operation, management contracts may be a practical choice enabling a foreign company to operate in the industry without owning the assets..
What is an international turnkey project? In what way is its variant BOT different from it?
8.For an interantional turnkey project, a firm signs a contract with a foreign purchaser and
undertakes all the designing, contracting and facility equiping before handing it over to the latter upon completion.
For a BOT project, a firm operate a facility for a period of time after building it up before finally transferring it to a foreign company.
Making profit from operating the project for a period is the major difference between BOT and the common turnkey project.
Franchise: an arrangement by which a monopoly producer or owner gives another permission for the exclusive right to manufacture or sell the products in certain area.
Royalty: money paid to the owner of a copyright fr permission to publish copy right material and to the owner of a patent for permission to use a patented design, usu, at an agreed percentage of the selling price of the product.
Patent: a special right to an inventor to be the only person to make and sell, or to authorize others to make and sell a newly-invented machine or process.
Non-tariff barries: all forms of man-made obstructions to international trade other than tariffs, including prohibitions and quotas, etc.
Portfolio: the entire collection of investments in the form of stocks, bonds, or certificate of deposits for purposes other than controlling.
Turnkey project: one in which one of the parties agrees to supply, at the contract price, a complete product ready for use, such as a new home, factory, ship, etc.
Budget: an account of probable future income and expenditure during a stated, period, usu, a year used as a guide in making financial arragements.
Return: the gain from an investment, either as income or yield or as profit on the sale of the investment.
Expertise: expert knowledge or skill, esp. in a particular field; know-how
Licensor: a person or company granting a licence
1.国际贸易一般指不同国家的当事人进行的交易，它涉及到许多因素，因而比国内贸易要复杂得多。

International business refers to transaction between parties from different countries, it involes mor factors and thus is more complicated than domestic business.
2．随着经济一体化进程的发展，很少人和公司能完全独立于国际商务之外而存在。

因此，在此方面具有一定的知识是十分必要的，这既有益于企业的发展又有益于个人的进步。

With the development of economic globalization, few people or companies can completely stay away form international business. Some knowledge in this respect is necessary both for the benefit of enterprises and personal advancement.
3.其他参与国际贸易的形式有管理合同、承包生产和“交钥匙”工程。

Other forms for paticipating in international business are management contract, contract manufaturing and turnkey project.
4.国际贸易最初以商品贸易的形式出现，即在一国生产或制造商品而出口或进口到另一国进行消费或转售。

International business first took the form of commodity trade, i.e. exporting and importing goods produced or manufactured in one country for sonsumption or resale in another.
5.除了国际贸易和投资，国际许可和特许经营有时也是进入国外市场的一种方式。

Besides trade and investment, licensing and franchising are sometimes taken as a means of entering a foreign market.
二、
Explain the concepts of GNP and GDP respectively and point out their major difference. Can we use them interchaeably?
1.GNP refers to the market value of goods and services produced ty the property and labor
owned by the residents of an economy.
GDP measures the market value of all goods and services produced within the geographic area of an economy.
The difference between GNP and GDP is that the former focuses on ownership of the factors of production while the latter concentrates on the place where production takes place.
The difference between GNP and GDP can be ignored since it is very small in most cases, so we can use them interchangeably.
What are meant by high income, middle income, and low income countries according to the World Bank? Cite some exaples for each group.
2.Those enjoying annual per capita income of $9386 and above are classified as high-income
countries. This group comprises three types of countries.
a)most members of the Organization for Economic Cooperation and Development(OECD)
b)rich oil producing contries of the middle east (Kuwait, Saudi Arabia, United Arab
Emirates).
c)Small-industrialized countries or regions such as Israel, Singapore, Hong Kong and
Taiwan.
Countries with annual per capita income below $9386 but above $765 are regarded as middle-income countries.
1)most East European countries and most members of the Commonwealth of Independent
States, six OECD members.(Czech, Greece, Hungary, Mexico, Turkey)
2)quite a number of Latin American countries and some comparatively developed countries
in Asia.(Indonesia, Malaysia, the philippines, Thailand)
3)Among the African countries, South Africa and oil-producing Libya, Nigeria and Algeria.
Lower income countries are those that have per capita incomes of only $765 or even less.
1)Most African contries, some Asian countries and a few Latin American countries.
Why are high income countries important to trade and investment? Should we neglect low income countries in international business?
3.High-income countries often have good infrastructure, high purchasing power, advanced
technology, efficiet management, and favorable environment for trade and investment. They offer prime markets for expensive consumer goods and are both attractive sources and destinations of investment.
We should not neglect low income countries in international business, because they constitute markets for lower-priced staple goods, provide cheap labor and are often rich in resources. What is more important, market is something to be developed. Once tapped, the business potential of these countries will one day become real business opportunities.
In what different ways are GDP and per capita income significant in assessing the potential of a particular market?
4.Total GDP indicates the overall size of an economy which is important in market assessment
for durable equipment or bulk goods such as grain, steel, or cement. Per capita GDP reveals the average income level of consumers, which is important when marketing consumer durables.
Was china a low-income country a few years ago? How about now?
5.China with a per capita income of over $1100 is a middle-income country though it was a low
income country just a few years ago.
What does the term “Traid” refer to? What is meant ty Quad?
6.The term Triad refers to the three richest regions of the world the United States, the European
Union and Japan that offer the most important business opportunities.
Some people extend the scope of Triad to include Canada and name the broadened grouping Quad.
How much do you know about OECD? Please make a brief account.
7.OECD means Organization of Economic Cooperation and Development was established in
1961 by the major capitalim countries with the headquarter in Paris. It has 29 member countries, among which, 23 of them are high-income countries and the others are middle-income countries.
What is the best policy for China to develop business opportunites?
8. The best policy is to develop business opportunities wherever advantageous while keeping in mind the key markets.
Tap: to take what is needed form, to exploit
PPP: purchasint power parity
Consumerism: considerable desire to make purchase for consumption
Recipient: a person or an organization etc. that receives something
Pruchasing power: of persons, the public, having the money to buy goods and services
Average: of an ordinary, common or usual kind in quality or amount
Spur: to urge or encourage
Productive: producing in high efficiency or in large quantity
Assess: to judge an amount or value
Infrastructure: large-scale public services, such as water and power supplies, road, rail and radio communications, etc. needed to support economic activity, esp. industry, trade and commerce
国民生产总值和国内生产总值是表明一国收入的两个重要概念。

区别在于前者强调的是生产要素的所属权而后者着重于进行生产的国家。

GNP and GDP are two important concepts used to indicate a country’s total income. The difference between GND and GDP is that the former focuses on ownership of the factors of production while the latter concentrates on the place where production takes place.
要估评某一市场的潜力，人们往往要分析其收入水平，因为它为那里居民的购买力高低提供了线索。

In assessing the potential of a market, people often look at its income level since it provides clues about the pruchasing power of its residents.
世界各国被世界银行分为三大领域：高收入国家，中等收入国家和低收入国家。

Countries of the world are divided by the World Bank into three categories of high-income, middle-income and low-income economies.
中国现在的年人均收入为1100美元以上，但几年前它还是个低收入国家。

China with a per capita income of over $1100 is a middle-income country though it was a low income country just a few years ago.
就中国来说，周围还有其他应特别关注的市场，如亚洲四小虎、东盟国家、俄罗斯等国，这些国家都具有前景看好的市场潜力，能为中国提供很好的商机。

So far as China is concerned, other markets we should pay particular attention to are those around us: the Four Tigers, the ASEAN countries, Russia, India, and a bit farther away Australia.
三、
1.What is a free trade area? Make a brief account of the most notable free trade area in
the world.
Members of a free trade area removes barries to the flow of goods and services smong themselves while each member still adopts its own policy as regards to trade with outsiders.
The most notable free trade area is the North American Free Trade Agreement (NAFTA), the largest free market formed by the United States.
2.In what way is a customs union different from a free trade area?
Customs Union that goes a step further by adopting the same trade policy for all the members toward countries outside their organization in addition to abolishing trade barriers among
themselves.
3.What are the characteristics of a comon market? Which organization remained a
common market for some years in the past?
Besides free movement of goods and services and adoption of common external trade policy, factors of production such as labor, capital and technology are free to move among members so that they can be utilized in a more efficient and productive way.
In the past, the European Community remained a common market for some years.
4.How much do you know about an economic union? Can members of an economic union
keep all of their national sovereignty?
Economic union is characterized by integration of the domestic policies of its members in respect of economy, finance etc. in addition to absence of trade barriers, practice of common external policy and free production factor mobility.
The member countries of an economic union are required to surrender some of their national sovereignty.
5.Make a brief account of the origin and development of the EU.
Its history dates back to the early post-war years. The first community, the European Coal and Steel Community (ECSC) was established in 1952 which set the stage for more ambitious integration efforts. The signing of the monumental Treaty of Rome in 1957 marks the establishment of the European Economic Community with the aim of gradually realizing the free movement of goods, services, labor and capital as well as the harmonization of economic policies of the member countries. Ten years later in 1967, the European Community was formed by merging EEC, ECSC and the European Atomic Energy Community (EURATOM).
1992 was a landmark year in the development of the EC when it became a true common market as envisaged by the Single Eropean Act. Then on January 1, 1994 the European Union (EU) came into being on the strength of the Maastricht Treaty.
6.What is the most powerful institution of the EU? What is the executive body of the EU?
How does it operate?
The most Powerful institution of the EU is the Council of Ministers. It has the final say on all important matters. Decisions of the council are made by votes allocated to member countries on the basis of their size. Different ministers attend the council meetings depending on the matters discussed.
Its executive body is the European Commision composed of 20commissioners overseeing 23 departments in charge of different affairs.
7.Explain briefly the five layer organizational structure of Asia-Pacific Economic
Cooperation.
1)The first is the Informal Meeting of Economic leaders held annually.
2)The second is the Dual-Ministerial Meeting attended by foreign ministers (excluding
Chinese Taipei and Hong Kong) and ministers in charge of foreign trade.
3)The third is the Meeting for Ministers Responsible for Trade.
4)The fourth is the Senior Officials Meeting (SOM) attended by vice ministers, departmental
directors or ambassadors to implement decisions by economic leaders and ministerial meetings.
5)The fifth layer refers to the four subordinate committees under SOM, i.e. Committee of
Trade and Investment, Economic Committee, Economic and Technical Cooperation
Subcommittee of SOM and Budget Management Committee.
8.What are the tenet and objectives of APEC? What is meant by its two wheels?
APEC-Asia-Pacific Economic Co-operation, its tenet and objectives are “inter-dependence, mutual benefits, adhering to an open and multilateral trading system and reduction of regional trade barriers”.
APEC co- operation concentrates on trade and investment liberation and facilitation (TILF) and economic and technical cooperation (ECOTECH) that are commonly termed as “the two wheels of Apec”.
9.What are the nature and objectives of OPEC?
The nature of OPEC is a commodity cartel.
By assigning production quotas among its members, OPEC tried to limit the overall crude oil supply of the world for the purpose of maintaining higher oil prices.
Veto: right to reject or forbid something
Detour: route that avoids a blocked road, deviation
Erode: wear away, eat into
Integration: combing into a whole
Liberalization: of trade, the act of government in lifting controls overimports and exports
Tariff: tax levied by the customs
Envisage: picture (an event, action, etc) in the mind as a future possibility; imagine
Banknote: printed paper money issued by a bank, usu. The country’s central bank
Mobility: capacity that can move or be moved easily and quickly from place to place
Barrier to trade: any action by a government to limit or prevent the free flow of goods in and out of its country
1.过去的几十年，地区经济一体化越来越重要。

The past decades witnessed increasingly growing importance of regional economic integration.
2.最著名的自由贸易区是北美自由贸易区，它是由美国、加拿大和墨西哥于1991年建立
的。

The most notable free trade area is the North American Free Trade Agreement (NAFTA), it was formed by the United States, Canada and Mexico in 1991.
3.经济联盟的成员国不仅要在税收、政府开支、企业策略等方面保持一致，而且还应使用
同一的货币。

The members of an Economic Union are required not only to harmonize their taxation,
government expenditure, industry policies, etc., but also use the same currency.
4.欧洲委员会是欧盟的管理机构之一，此机构将提议呈交给部长理事会做决定，并监督各
成员国根据所制定的条约履行自已的义务。

European Commission is one of the administration institutions of European Union, it hands over the proposes to the council of Ministers for dicision and oversees member countries to implement their obligations according to the enacting clauses.
5.APEC建立于在澳大利亚首都堪培拉召开的一次部长级会议上。

当时有12位成员国出
席，分别为澳大利亚、美国、加拿大、日本、朝鲜、新西兰和东盟六国。

APEC was set up at the Ministerial Meeting held in the Australian capital Canberra attended by 12 members of Australia, the United States, Canada, Japan, Republic of Korea, New Zealand and six ASEAN countries.
四、
1.What are the basic feature and major role of economic globalization?
With the basic feature of free flow of comodity, capital, technology, service, and information in the global context for optimized allocation, economic globalization giving new impetus and providing opportunities to world economic development and meanwhile making the various economies more and more interdependent and interactive. It has become an objective trend in world economic development.
2.Mention some of the pros and cons of economic globalization. What is the right attitude
toward it?
Economic integration enables countries benefit from the boom of other countries but also makes them more vulnerable to the adverse events across the globe.
The best policy for us is to follow the trend closely, availing the opportunities it offers to develop ourselves and avoiding its poosible impacts.
3.What is the formal definition of a multinational enterprise? How can you tell whether a
multinational corporation is aparent or just an affiliate?
A typical multinational enterprise shall be defined as a business organization which owns
(whether wholy or partly), controls and manages assets, often including productive resources, in more than one country, through its member companies incorporated separately in each of these countries.
If the MNC is the original investing corporation, it is known as the parent MNC, which is normally also the international headquarters of the MNE.
If the MNC is established as a result of investments by the MNE, whether through the parent or through another of its already established MNC, it is an affiliate MNC.
4.Describe briefly the characteristics of MNEs.
a.enormous size
b.wide geographical spread
c.longevity and rapid growth
5.What is the ecommonly recognized objective of MNEs?
Like most business organizations, MNEs are formed for profit.
6.Why is security so important to MNEs?
Profit is useless if it cannot be secured by the MNE and transfeeed wherever it so desires.
7.Do you think “wide geographical spread” of MNEs plays a very important role in the
development of their business? Why?
a.enables them have a wide range of options in terms of decisions in areas such as sourcing
and pricing.
b.More able to take advantage of changes in the international economic environment.
c.Enable MNEs to engage in worldwide integrated production and marketing giving rise to
extensive intra-MNE transactions which constitute a very significant proportion of total international trade.
8.What is the relationship between MNEs and their host countries?
Host governments can and do wield power over MNCs located within their territories. MNCs are under the legal jurisdiction of their host governments which can impose various rules, regulations, and laws on the MNCs to the extent of nationalizing all their assets.
9.What are the four types of multinational enterprises? Describe each of them briefly.
a.multi-domestic corporation that is a group of relatively independent subsidiaries.
b.Global corporations which operates under an opposite principle from the first type and
views the world market as an integrated whole.
10.Are there many world companies at present? Imagine their future role in complete
globalization?
No, very few companies, if any, have reached this level of internationalization.
When such companies become dominating, the possiblility of conflicts among sovereign states may be greatly reduced. Possibly they will be instrumental to the realization of complete globalization.
Revenue: the total annual income of a state
Decentralize: distribute the administrative powers over a less concentrated area
Nationalize: to bring under the control or ownership of a nation
Input: something that is put in business operation
Welfare: well-being
Framework: organization structure
Facilities: something designed, built or installed to serve a specific function or perform a particular service
Affiliate: a subsidiary company controlled by another
World company: a multinational whose national identity has been blurred
Assets: total resources of a business, as cash, accounts receivable, real estates etc.
1.经济全球化为世界经济发展提供了新的动力和机会，同时也使各经济体更加相互依赖、
相互影响。

Economic globalization is giving new impetus and providing opportunities to world economic development and meanwhile making the various economies more and more interdependentand interactive.
2.跨国公司是在一个以上国家拥有、控制和经营资产的商业组织。

Multinational enterprise is a business organization which owns, controls and manages assets in more than one country.
3.许多人欢呼经济全球化带来的好处，但同进也有强烈的反对声音。

While many people are acclaiming the benefits brought about by economic globalization, there are also loud voices of opposition.
4.跨国公司的内部交换占整个国际贸易的一个很大的比例。

Intra-MNE transactions constitute a very significant proporttion of total international trade. 5.尽管公司的日常管理工作下放到跨国企业的子公司，但重要决策，如有关公司目标和新
投资等都由母公司来决定。

Although the day-to-day running of corporate operations maybe decentralized to the affiliates, the major decisions, such as those on corporate goald, new investments and their location, are made by the parent company.
6.无论人们是否喜欢，经济全球化已成为世界经济发展中的一个客观趋势。

Like it or not, economic globalization has become an objective trend in world economic development.
五、
1.How would you define international trade?
International trade can be defined as the exchange of godds and services produced in one country with those produced in another.
2.Why did international trade first begin?
In the complex economic world, no country can be completely self-sufficient. The distribution of natural resources is uneven. Some countries are abundant in resources, while elsewhere reserves are scarce or even nonexistent. And a country may be rich in some resources but poor in others. That is the reason why international trade first begin.
3.What is the new incentive for trade that arose with the development of manufacturing
and technology?
International specialization – one country producing more of a commodity than it uses itself and selling the remainder to other countries.
4.According to the theory of absolute advantage, trade occurs only when a country has an
absolute advantage over another. Is that always true?
No. Because in reality, it is not rare that one country has no absolute advantage in any commodity.
5.Who introduced the theory of comparative advantage? Which theory makes more sense,
absolute or comparative advantage?
David Ricardo.
Comparative advantage.
6.Explain briefly why trade to exploit comparative advantage promotes efficiency among
countries.
Since it can make one country better off without making another worse off.
7.Is comparative advantage something static? Is it purely decided by the endowments of
nature? Give examples to show the development of comparative advantage by certain countries.
Comparative advantage is not a static concept. A country may develop a particular comparative advantage purely through its own actions, independent of the endowments of nature. Switzerland’s comparative advantage in watchmaking is a typical example.
Service: something done to help or benefit others
Aboundant: plentiful, more than enough
Specialization: to restrict one’s economic activities to certain particular fields
Primary commodities: those commodities not processed, or only slightly processed, usually farm produce or raw materials
Incentive: that which incites, rouses or encourages a person
Alternative: that may be had, used etc. in place of sth else
Intuitive: relating to the power of the immediate understanding of something without reasoning or study.
Efficient: producing a desired or satisfactory result; able to perform duties well
Endowment: a natural gift or ability
Exploit: to develop the use of, make the best use of
1.在复杂的经济世界中，没有一个国家可以完全自给自足。

In the complex economic world, no country can be completely self-sufficient.
2.随着制造业和技术的发展，出现了另一个刺激贸易的因素，即国际专业化。

With the development of manufacturing and technology, there arose another incentive for trade, i.e. international specialization.
3.按照比较利益学说，两个贸易伙伴均可从贸易中得到好处。

According to the theory of comparative advantage, both countries can gain from trade.
4.比较利益并不是一个静止的概念，一个国家可以通过自已的行动发展某种特定的比较利
益。

Comparative advantage is not a static concept. A country may develop a particular comparative advantage purely through its own actions.
5.比较利益理论已成为现代国际贸易思想的基石。

The theory of comparative advantage has become the cornerstone of modern thinking on international trade.
六、
1.Are there other bases for trade when there are no differences among
countries in production conditions? Mention some of the bases.
a.patterns of demand
b.economy of scale
c.innovation or style
2.What is economy of scale? What is the relation between economy of scale and
trade?
The cost advantages of large-scale production.
Trade may occur out of economy economies of scale.
3.What does the theory of international specialization seek to answer?
The theory of international specialization seeks to answer the question which countries will produce what goods, with what trade patterns among them.
4.Will complete specialization occur in reality? Why?
No. Because for strategic or domestic reasons, a country may continue to produce goods for which it does not have any advantage.
5.What is tariff barriers? What is a customs area and what is a customs union?
Tariff barriers are the most common form of trade restriction.
Customs area usually coincides with the area of a country.
A customs area extending beyond national boundaries to include two or more
independent nations is called a customs union.
6.What is most favoured nation treatment? Is it a very special treatment?
Why?
The term most-favoured-nation treatment refers to a tariff treatment under which a county is required to extend to all signatories any tariff concessions granted to any participating country.
MFN treatment is not relly special but is just normal trading status. It gives a country the lowest tariffs only within the tariff’s schedule, but it is still possible to have tariffs.
7.What is the most common form of non-tariff barriers? Explain it in a few
words.
Quotas or quantitative restrictions are the most common form of non-tariff barriers.
A quota limits the imports or exports of a commodity during a given period of
time.
8.What are the differences between visible trade and invisible trade? Give a
few examples of invisible trade.
Visible trade involves the import and export of goods, while invisible trade involves the exchange of services between countries.
Transportation service across national boundaries; insurance; tourism and immigrant remittance.
9.Explain briefly the different kinds of tariffs.
a.import duties are tariffs levied on goods entering an area while export duties
are taxes levied on goods leaving an area.
b.The term drawback refers to duties paid on imported goods that are refunded
if the goods are reexported.。