Marketing- Chapter 4

An embargo limits the amount of specific goods that can be imported into a country.

globalization&expansion of trade have created enormous wealth in rich&poor countries

Most countries produce and manufacture all the goods and services they need.

manages world trade by studying important trade issues&evaluating health of the world economy

All countries’ currency have the same value.

Specialization builds and sustains a market economy.

Which is NOT an example of a multinational?

involves hiring a foreign manufacturer to make your products, according to your specifications.

Because different countries possess unique resources and capabilities, they

an international trade agreement designed to open markets and promote global free trade.

The United States is the world’s biggest exporter.

new global marketplace makes all people&businesses in the world potential customers&employees

When a country imports more than it exports, it has a trade surplus.

is a business enterprise that companies set up together

Exchange of goods and services among nations

GATT, NAFTA, WTO and the EU are examples of

involves creating specially designed products or promotions for certain countries or regions.

Limits the quantity or monetary value of a product that may be imported

Difference in value between exports and imports of a nation

If a U.S. company imports wine from Italy, it can pay the Italian exporter in U.S. dollars.

Goods or services purchased from other countries

The United States, Canada, and Mexico all call their currency dollars.

Which is not a socio-culture factor?

Tax on imports

is the establishment of a business in a foreign country

are midsize or smaller companies that have operations in foreign countries

An international trade agreement among the United States, Canada, and Mexico.

Total ban on specific goods coming into and leaving a country

The Maastricht Treaty created the ___________ to establish free trade among the member nations.

is selling the same product and using the same promotion methods in all countries.

Partnerships made when direct investment in a foreign country occurs with a domestic partner