1.

All managers need to have a basic knowledge of the international business. 
 
True    False

2.

As the term is used in the text, foreign business is business whose activities are carried out across national borders. 
 
True    False

3.

An international company is an organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences. 
 
True    False

4.

A business whose activities are carried out across national borders is known as an international business. 
 
True    False

5.

Foreign business refers to the operations of a company outside its home or domestic market. 
 
True    False

6.

A company headquartered in another country is known as a foreign business. 
 
True    False

7.

The term international business is used to describe an organization with multicountry affiliates, each of which formulates its own business strategy based on perceived market differences. 
 
True    False

8.

A multidomestic company is an organization that attempts to standardize and integrate operations worldwide in all functional areas. 
 
True    False