BP Ch 3 Assessment and Review - Public

The United States conducts trade with over ____ countries.

The amount a country owes another country.

Which of the following is NOT a cultural/social factor that affects international business?

A nation with a trade surplus is said to have a favorable trade position.

The right to use a company name or business process in a specific way.

Which of the following is NOT a goal of the World Trade Organization?

The accepted behaviors, customs, and values of a society are referred to as

The difference between a country’s total exports and total imports is called the

A limit on the quantity of a product that may be exported or imported is

When a country has a favorable balance of payments, the value of its currency is usually high.

When a country can produce a good at a lower cost than other countries possibly due to climate.

An organization that does business in several countries

Which is NOT a form of exchange that takes place among nations

Selected area where products can be imported duty-free and assembled, or used in manufacturing.

A country specializes in the production of a good at which it is relatively more efficient

Selling the right to use some intangible property for a fee or royalty is called

A country in which an MNC places business activities is called the

The making, buying, and selling of goods and services within a country is called

Which of the following is not a key effect on a country’s level of economic development?

Created in 1944 to provide loans for rebuilding after World War II.

A nation’s transportation, communication, and utility systems are referred to as

Complete stoppage of trade.

Which of the following scenarios is likely to cause the value of a country’s currency to rise?

The cost of using someone else's money.