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Business Stuff, I guess
Business Stuff, I guess
25 terms
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Its business stuff, as the title says.
Flashcards
25 cards
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Practice quiz
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Questions
25
Answers
1
A favorable balance of payments is when...
A country receives more money in a year than it pays out.
A country pays out more than it receives.
A change of government occurs.
A country has a surplus of avocados.
2
If a country exports more than it imports than it is a...
Trade surplus
Trade deficit
Favorable trade position
Im just here for the turtle.
3
A common market is when...
A country exchanges currency.
A country does away with duties and other trade barriers.
A selected area where goods can be stored duty free.
A government stops the importation of a product entirly.
4
A free trade agreement is when countries agree to remove duties and trade barriers on products traded among them.
False
True
5
A business that does work in other countries is considered a international business.
True
False
6
An example of a cultural influence is...
Terrain
Religion
Government system
Natural reasources
7
Select all that are economic developments of a country.
Technology
The whale population of a country.
A country's inflation rate.
Agricultural dependency
8
A free trade zone is...
When a government stops the importing of a good entirely.
A tax that a government places on an imported product.
A selected area in which goods can be stored duty free.
9
An embargo is...
A tax on certain imported products.
The title of the worlds largest trade center.
A limit to the quantity of a product imported or exported.
When a government stops the exporting and importing of a product entirely.
10
Two disadvantages of a domestic business are________. Please select all that apply.
Don't have access to other country's natural resources.
Cheaper to transport goods.
They have to worry about wars between the counties they produce in.
Not as many income sources.
11
A disadvantage of international business is more income due to a larger reach.
True
False
12
Absolute advantage is when a country can produce a good at a cheaper cost than others
False
True
13
Which of these are not considered a political or legal concern of a country?
Political Stability
Technology
Trade Barriers
Government Systems
14
The process of exchanging currency for another in the foreign exchange market is the...
Balance of payments.
Foreign exchange rate.
Political staybility.
15
If your company does work in China and the U.S.A. than it is a domestic business.
True
False
16
Foreign exchange rate is a cultural influence of a country
False
True
17
An example of a comparative advantage would be...
If the U.S. has and absolute advantage in more than one area.
When a government...oh, a raccoon, how nice.
A country's government system.
Goods sold to another country.
18
An advantage of domestic business is less money spent on the transporting of goods.
True
False
19
If a country is bringing in bananas from Cuba, those bananas are considered an...
Domestic Business
Import
Exsport
International Business
20
Importing is when an item bought from another country is brought into a different country.
True
False
21
If Canada can only export 25,000 gallons of maple syrup a month than it is considered a_____.
Tariff
Free trade zone
Quota
Common market
22
Sudden changes in a country's government may cause unfriendly setting for foreign businesses.
False
True
23
If the U.S. stops accepting maple syrup from Canada that is considered a(an) _______.
Free trade zone
Embargo
Common market
Quota
24
Langue, religion, and customs are all _______ of a country.
Cultural influences
Geography influences
Political and legal concerns
Economic development
25
If Brazil is producing coffee cheaper than Canada they have a ______ over coffee
Comparative Advantage
Absolute Advantage
Exporting
Imagine the milk as coffee.
