Business Principles Chapter 3

Which of the following is a geographical factor?

Debt is when a consumer, government, or country buys more than their income allows

Exports are goods purchased from other countries.

The amount of money one country owes to other countries.

When a country can produce a good or service at a lower cost than any other country is known as __

Balance of payments describes the difference between a country's total exports and its total imports.

Franchising is popular with fast-food companies

An agreement between two or more companies to share a business project

Global strategy treats each countries market differently

The term to describe banks that buy and sell different world currencies is __

Business activities needed for creating, shipping, and selling goods across national borders is international business

A tax that a government places on certain imported products is called a __

What is the cost that a business or government pays in order to borrow money called?

The making, buying, and selling of goods and services within a country is known as __

Which are cultural factors?

Goods and services sold to other countries is known as exports.

A term to describe when a country exports more goods and services than it imports.

Infrastructure describes a nation's transportation, communication, and utility systems.

The value of a currency in one country compared with the value in another.

An economic consequence that tries to completely block the exchange of goods and services with another country