Review for Quiz 1 on International Trade | IN 312, Quizzes of International Business

Download Review for Quiz 1 on International Trade | IN 312 and more Quizzes International Business in PDF only on Docsity! REVIEW FOR QUIZ 1 Quiz 1 will include all chapters included in Module 1 For example, what is a “Trade Pattern”? BP At minimum, 4 elements are needed to understand “trade patterns”: 1. A viable product 2. Trading parties 3 M k t i t ti. ar e or en a on 4. Regulatory framework Pat Yanez 31 Manufacturing For example, North American Industry Classification Systems (NAICS) 313 314 Textile Mills Textile Product Mills 3131 Fiber, Yarns & Thread Mills 3132 Fabric Mills 313111 313113 31321 31322 N W F b i 3141 Textile Furnishing Mills 3149 Other Textile Product Mills 31411 31412 Yarn Spinning Mills Thread Mills 3133 Textile & Fabric Finishing, Fabric Coating Mills Broad Woven Fabrics arrow oven a r cs 31323 Handwoven Fabric Mill 31324 Knit Fabric Mills Carpet & Rug Mills Curtains & Linen Mills 315 Apparel Manufacturing 3151 Apparel Knitting Mills 3152 Cut and Sew Apparel Manufacturing 315111 Sheer Hosiery Mills 315191 Outerwear Knitting Mills 315192 Underwear and Nightwear Knitting Mills 315211 315212 315291 315292 313511 Hosiery & Sock Mills 313519 Other Apparel Knitting Mills 31529 Other Cut & Sew Apparel Manufacturing 31523 Women’s & Girls’ Cut Sew Apparel Manufacturing 31522 Men’s & Boy’s Cut Sew Apparel Manufacturing 31521 Cut & Sew Apparel Contractors 3159 Apparel Accessories & Other Apparel Manufacturing Men’s & Boys’ Apparel Trimmings & Findings Women’s & Girls’ Apparel Trimmings & Findings Infant’s Cut & Sew Apparel Manufacturing Fur and Leather Apparel manufacturing PowerPoint Slide Design: Patrick Yanez Source: “Going Global: The Textile & Apparel Industry” Kunz & Garner (2007) For example, Textile & Apparel Supply Matrix: Technology & Low-Cost Labor Paradox • Technology development T i & L i i– ransportat on og st cs – Universal Product Code (UPC) – Radio Frequency Identification (RFID) – Real-Time Communications • Low-Cost Labor Paradox – Necessity of Profits • Trade Issues in Textiles & Apparel – Methods of Measuring Trade & Productions » Square Meter Equivalents (SMEs) » Import penetration » Apparent consumption Pat Yanez » Distressed goods SAMPLE QUESTIONS Pat Yanez S i iourc ng s: a) a business that manufactures products for other businesses or arranges for their production b) the combination of textile-related industries that supply soft goods to the world population c) apparel contractor that not only provides production fservices but also assists with and inances product development and material sourcing d) activities performed to acquire materials, and finished d l ti t d t d b i ithgoo s; se ec ng a coun ry or ven or o o us ness w e) a business formed when firms in unrelated markets join together for common ownership Pat Yanez S i iourc ng s: a) a business that manufactures products for other businesses or arranges for their production b) the combination of textile related industries that supply soft - goods to the world population c) apparel contractor that not only provides production services but also assists with and finances product development and material sourcing d) activities performed to acquire materials, and finished goods; selecting a country or vendor to do business with ** e) a business formed when firms in unrelated markets join together for common ownership Pat Yanez W ld id billi T hi t d dor w e, __ on -s r s are pro uce every year, that is, nearly three T-shirts for each man, woman, and child in the world a) 16 b) 12 c) 8 d) 4 e) 2 Pat Yanez