International Business

Question 1

The physical development of a country, including its roads, ports, sanitation and utilities

Accepted Answer

Infrastructure

Question 2

When a country has natural resources/talents that allow it to produce items at the lowest cost

Accepted Answer

Absolute Advantage

Question 3

which of the following is NOT an economic factor when dealing with international business

Accepted Answer

currency exchange

Question 4

Is the exchange of goods and services among nations

Accepted Answer

International Trade

Question 5

Imports

Accepted Answer

goods and services purchased from other countries

Question 6

A tax on imported goods

Accepted Answer

Tariffs

Question 7

Benefits of International Trade are

Accepted Answer

A & B

Question 8

The difference in Value between exports and imports

Accepted Answer

Balance of Trade

Question 9

midsize or smaller companies that have operations in foreign countries

Accepted Answer

mini-nationals

Question 10

Limits either the quantity or the monetary value of a product that may be imported

Accepted Answer

Quota

Question 11

Are good and services sold to other countries

Accepted Answer

Exports

Question 12

Which of the following is NOT a socio-cultural factors in dealing with business

Accepted Answer

attire

Question 13

Is the value that a nation gains by selling what it produces most efficiently

Accepted Answer

Comparative Advantage

Question 14

Large corporations that have operations in several countries

Accepted Answer

multi nationals

Question 15

A total ban on specific goods coming into and leaving a country

Accepted Answer

Embargo

Questions 15