Intro to Business: Chapter 3

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

A(n) ___ company is an organization that does business in several countries.

has low financial investment, so potential financial return is often low. Low risk too.

___ rates are the cost of using some else's money

A tax that a government places on certain imported products is called a(n)

Free-trade zone means where importers and exporters can trade without money changing hands.

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

Which is NOT a goal of the World Trade Organization (WTO)

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

Some countries limit amount of money their citizens can take out of the country when traveling

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

because of international trade, all nations of the world use the same banking system.

treats each country as a different market. products and marketing strategies adapt to culture.

The key factors that affect a country’s level of economic development are

The ___ rate is the value of currency in one country compared to the value in another country

Which factor does not affect currency exchange rates among countries?

A country in which a multinational company conducts business activities is called the

When a country has a favorable balance of payments, the value of its currency tends to rise.

Which country has absolute advantage in coffee production

Countries that devote most of their economies to agriculture provide better goods and services

Items bought from other countries are called

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

Where products can be imported duty-free and then stored, assembled, or used in manufacturing

a country specializes in the production of a good or service more efficient that others

uses the same products and marketing strategy worldwide. same or similar product is sold.

limit that a gov'nt places on the quantity of a prod exported or imported during a given period

If a nation imports more than it exports, it has a trade

Foreign trade is unnecessary because a country can product all that it needs

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

joint venture: agreement among 2+ countries to remove duties and trade barriers among them.

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

Today is it difficult to define economies in terms of national borders.

a country can have absolute advantage in only one area.

The diff. betw. the amount of money that comes into a country & the amount that goes out is

infrastructure is a nation’s transportation, communication, and utility systems

When a government completely stops the import or export of a product, it is called a(n)

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

a negative or ___ balance of payments occurs when a country sends out more than it brings in

International business is frequently referred to as world or ___ trade

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

Goods and services sold to other countries are called

Have a common external duty on products being imported from member countries

A trade ___ is a restriction to free trade

Foreign ___ is the amount a country owes to another country

This international trade org was created in 1944 to provide loans for rebuilding after WWII.

It is possible for the US to have a trade surplus with one country & trade deficit with another

The United States conducts trade with more than ___ countries

culture has a strong influence on business. Which is an example of a cultural influence?