1. In an exporting strategy, the domestic firm has very little control over the pricing, promotion, or distribution of its product in the foreign market. True or False 2. Free on board (F.O.B) determines who is responsible for the various stages of delivery of the product, who bears what risks, and who pays for the various elements of transportation. True or False 3. Products remaining in a free trade zone (also called a foreign trade zone) are not subject to duties or taxes until they are reshipped out of the zone into the country of destination. However, products in the FTZ cannot be processed, assembled, sorted or repackaged before reshipment. True or False 4. "The most valuable commodity to customers is time, rather than money " would be an example of a social cultural trend that impacts supply chain management. True or False 5. There are many advantages to exporting, including: A. Always easier to compete with other firms located in the foreign market. B. Easier to withdraw from a market if it does not meet the firm's profit and/or sales expectations. C. Gain experience and test a market before significantly expanding into the foreign market. D. Less financial risk than other market entry strategies. E. No supply chain asset investment in needed in the foreign market. 6. Reasons for supply chain joint ventures include all of the following EXCEPT A. Access to foreign capital B. Low cost sourcing C. Slower and more methodical entrance into foreign markets D. Potential competitive advantages E. Technology transfer opportunities 7. While the departure of the United Kingdom from the European Union, referred to as Brexit, has not yet occurred as of mid 2019, there will be a number of post Brexit changes that we'll occur. Which of the following changes would NOT occur in a post Brexit environment? A. ERP systems will have to undergo modifications to reflect that the UK is not post of the EU. B. Firms will be hesitant to enter into long term contracts for logistics services. C. Foreign exchange rates for the British pound would change. D. The UK could not enter into free trade agreements with non EU countries E. The VAT rate in the UK would change 8. All things considered of the major uncontrolled elements of the environment that surround the supply chain activity, the MOST important element would be: A. Economic conditions B. Geography of the foreign market C. Political and legal systems of the foreign markets. D. Social and cultural norms of the various target markets. E. Technology available or accessible 9. There are number of major international trading blocs throughout the world. The countries of Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador , Guyana, Paraguay, Suriname, Uruguay, and Venezuela would belong to which trading bloc? A. Asia pacific economic cooperation (APEC) B. Association of southeast Asian nations (ASEAN) C. North American free trade agreement (NAFTA) D. Mercado comun del sur (MERCOSUR) E. Union of South American nations (UNASUR)