Intro to Business Chapter 3

______ is a trade agreement signed by the U.S., Canada, and Mexico in 1993.

Comparative advantage is a situation in which a nation produces products that it is able to:

If the U. S. set a 12% tariff on imported cars, a Toyota that cost $13,000 would be priced at:

Religion is an element of the _____ component of the international business environment.

A free-trade zone is an area where goods can be imported duty-free and then manufactured.

The _____ is the rate of interest charged by banks to their best business customers.

____ occurs when a firm pays for the right to use a business name or process in a specific way.

A country that wishes to enhance international trade activities would most likely use

Geographic factors rarely have an impact on a nation's business environment.

Without foreign trade, many things you buy would cost more or not be available at all.

Each of the following will have an impact on a nation's economic conditions except the:

Quotas may be set by a country to protect its industries from too much foreign competition.

Global business activities may foster understanding, communication, and respect between nations

Infrastructure is a significant factor that affects the economic development of a country.

______ is the making, buying, and selling of goods and services within a country.

The international org. that settles trade disagreements & enforces free-trade agreements is the

An unfavorable balance of payments will always result when a nation has trade deficit.

The World Trade Organization is designed to help settle trade disputes throughout the world.

A nation's transportation, communication, and utility systems are part of its ______.

The value of a country's currency is likely to decline as a result of

A company is planning to sell the rights to its brand name. This is an example of a

In recent years, the United States has had:

A corporation that is involved in business in several nations is known as:

Which of the following is likely to cause the value of a nation's currency to decline?

Which of the following would be an example of international business?

When a country's imports exceed its exports, there is a trade

A(n) _____ is the value of a currency of one country compared with the value of another.

A joint venture takes place when:

An informal trade barrier is created by government actions.