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61) ________ occurs when someone in authority extracts payment under duress. A) Nationalization B) An economic sanction C) Bribery D) Expropriation E) Extortion 62) According to Transparency International, firms from which of the following countries are LEAST likely to pay bribes? A) Germany B) the United Kingdom C) China D) Mexico E) Canada 63) Small firms that wish to export their products may choose to use ________ who understand the local market and will find buyers and negotiate terms on the firm’s behalf. A) direct investors B) franchisees C) export merchants D) franchisors E) free traders 64) All of the following are barriers to successful exporting except ________. A) tariffs B) local content laws C) import quotas D) export merchants E) economic sanctions 65) After exporting, the next level of commitment a firm can make to a foreign market is a contractual agreement. Two of the most common types of such agreements are ________. A) contract manufacturing and contract marketing B) contract manufacturing and strategic alliances C) joint ventures and franchising D) warehousing and financing E) licensing and franchising 66) In a ________, a firm gives another firm the right to produce and market its product in a specific country or region in return for royalties on goods sold. A) licensing agreement B) strategic alliance C) joint venture D) marketing mix alliance E) direct investment 67) Franchising is a form of ________. A) importing B) tactical alliance C) licensing D) joint venture E) direct investment 68) Which of the following often take the form of a joint venture? A) licensing agreements B) franchising agreements C) export-import alliances D) strategic alliances E) expropriation agreements 69) Which of the following is true about the market entry strategy of direct investment? A) It allows a foreign firm to take advantage of a domestic company’s political savvy and market position. B) It relies on export merchants to analyze the local market. C) It provides the lowest level of risk for a firm. D) It relies on intermediaries to represent the company in a target country. E) It provides the lowest level of control for a firm. 70) When considering the Four Ps in international marketing, advocates of ________ focus on the similarities among cultures and argue that basic needs and wants are the same everywhere. A) nationalization B) standardization C) localization D) expropriation E) ethnocentricism

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