1. Go to the International Chamber of Commerce (http://www.iccwbo.org/incoterms) Web site. In 250 words, describe an Incoterm that may not be covered in the text. A good source for such material is in the F.A.Q. section of the Web site.
2. The text describes problems exporters have with letters of credit. Since letters of credit transactions are document-based, the slightest discrepancies between documents can snag a transaction. In 250 words, describe how an organization can mitigate one risk in writing a letter of credit.
3. Find the price of a Big Mac at a local McDonald’s. Compare your price for a local Big Mac against the “Big Mac Index” (http://www.economist.com/node/13055650?story_id=E1_TPDVVGVD). Select a country and in 200 to 250 words try to explain why there may be a discrepancy between the Big Mac Index based on the exchange rate and the actual price of a Big Mac.
4. Based on your “Big Mac” post and using the first letter of your last name (PLEASE USE THE LETTER “L”), identify a country that starts with that letter on the Big Mac Index (http://www.economist.com/node/13055650?story_id=E1_TPDVVGVD). a country is not listed with that letter, use the second letter in your last name. In 200 to 250 words, discuss whether you should be exporting or importing Big Macs from that country. Explain your reasoning.
5. In 200 to 250 words, respond to this prompt from the course text: “Use a product of your choice and ship it from one country to another in a multimodal shipment. What packaging methods would you use? Why?” (David & Stewart, 2010, p. 360).
6. Select a port of entry and investigate the specific security measures taken by that port. As an example, the text highlights Wilmington, Delaware as a major port of bananas and tropical fruits and their associated challenges. In 200 to 250 words, discuss the security measures taken by the port you choose.
7. Should countries be allowed to enact non-tariff barriers to entry? In 200 – 250 words, state your opinion and give three reasons why you believe that your view is correct.
8. Write a series of three sentences you commonly use in English. First translate those three phrases into another language using the Free Language Translation tool (https://translate.google.com/). Then back-translate those sentences into English and determine whether they still “mean the same as the original sentence. Describe how the Special English technique can make it easier to communicate clearly with foreigners and why cultural sensitivity plays an important role when conducting business abroad.