Intro to Business - Chapter 5

The cost to convert one currency into another.

A government tax on imported goods.

The goods and services produced within a country's borders and sold in another country are _.

A business that operates in more than one country is called a _

A _ is a limit on the amount of a product imported into a country during a specific time period

A government may impose a _ on imported goods to protect domestic businesses.

Having people from different backgrounds, cultures, or demographics coming together in a group.

_ is the use of English by people with a different native language.

Goods and services that are produced within a country's borders and sold in another country.

The _ is the difference between a nation's exports and its imports.

Negative balance of trade.

Parent company that owns a chain and the brand.

An international _ allows a company to enter a foreign market without assuming all the risk.

Currency with an exchange rate set by the market forces of supply/demand in the foreign market

When a country specializes in producing a product at which it is relatively more efficient.

_ is the process of sending and receiving messages between people of various cultures.

The shared beliefs, customs, practices, & social behavior of a particular group or nation is _

_ is when a business sells the right to manufacture its products or use its trademark.

Shared beliefs, customs, practices, and social behavior of a particular group or nation

Person or company that buys the rights to use a brand.

A _ is any government action taken to control or limit the amount of imports.

An embargo that affects only certain goods.

In return for a franchise fee and royalties-the _ provides standards and procedures to the comp

A partnership of 2+ companies that work together for a specific business purpose is called a _.

When a country can produce goods more efficiently and at a lower cost than another country.

A(n) _ a group of countries that have reduced or eliminated trade barriers among themselves.

A _ is a group of countries that join together to trade as if they are a single country.

All the business activity involved in making, buying, & selling product within a nations border

The document listing the conditions & terms for importing/exporting products between countries

_ is the connection made among nations when economies freely move goods/money across border

A _ is a body of laws related to the exchange of goods and services for international trade.

Planning and managing the flow of goods, services, and people to a destination is _.

The business activity involved in making/buying/selling product within a nation's borders is _

The difference between a nation's exports and its imports.

Total amount of money that comes in to a country, minus the total amount of money that goes out