Business Chapter 3

Uses the same product and marketing strategy worldwide, like coke

Which of the following tends to discourage international trade?

Difference between the amount of money that comes into a country and the amount that goes out of it

Agreement between 2 or more companies to share a business project

Items bought from other countries

Without foreign trade, many products you buy would cost more or not be available.

A tax that a government places on certain imported products

Completely prohibiting the import or export of a product

A country can produce a good or service at a lower cost than other countries

The US only trades with about 10 other countries.

Burger King is an example of a

International organization that settles trade disagreements and enforces free-trade agreements

This group helps maintain an orderly system of world exchange rates

Which is not a factor that can influence the value of currency?

Occurs when a country buys more than it sells.

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

Researching a country's food, traditions, and religion is focusing on what International Business Environment Factor?

Researching a country's location, climate, and terrain is focusing on what International Business Environment Factor?

Which is NOT one of the 4 elements of international business environment?

All of the following are formal trade barriers except

Multinational companies sometimes control a country’s political power.

NAFTA is an example of this form of international trade

An economy that is largely involved in ag is usually unable to provide its citizens with a lot of high-quality products

Infrastructure refers to a country's

The amount a country owes to other countries is called