Intro to Business: Unit 2 Business in the Global Economy

Global Strategy treats each country's market differently. They adapt products to the culture of the country.

The difference between a country’s total exports and imports refers to what?

______ refers to a tax imposed by one country on the goods and services imported from another country.

If a country exports less than it imports, it has a trade surplus.

The difference in the amount of money that goes in and out of that country refers to what?

Which of the following tends to discourage international trade?

______ grants a person to access to sell a product or service under the same business name.

A business arrangement in which two or more parties agree to come together to accomplishing a specific task.

Inflation refers to the general increase/rise in the prices of goods and services.

The World Trade Organization (WTO) helps to lower tariffs between countries.

When a country has a unfavorable balance of payment, the value of its currency is usually constant or rising.

Domestic Commerce refers to creating, shipping, and selling goods across national borders

Your task is to research the country's education level and infrastructure. What are you researching?

Your task is to research the country's religion, customs, and traditions. What are you researching?

Your task is to research the country's seaports and natural resources available. What are you researching?

This organization introduced the system of convertible currencies at a fixed exchange rates.

THe HOST country, is where the parent company is located at.

______ grants permission for someone to use a form of a business' property such as a logo, a company's character, etc.

Which of the following is NOT an example of informal trade barriers?

Without foreign trade, all of the items you buy would cost more.