Business

International business is frequently referred to as world or ______________ trade.

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

When a country specializes in production of a good or service at which it is more efficient ___

A tax that a government places on certain imported products

A country can have an absolute advantage in only one area.

The difference btwn the amount of money that comes into a country and the amount that goes out

A country in which an MNC places business activities is called the

Most business activities occur within a country's own borders.

It's possible for the US to have a trade surplus with 1 country and trade deficit with another

Trade Organization started after WWII in 1944

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

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

The key effects on a country's level of economic development are

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

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

Licensing

A limit that a government places on the quantity of a product

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

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

A joint venture is an agreement between two or more countries to remove duties

Common Market Members

Goods and services sold to other countries are called

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

Which of the following counties has an absolute advantage in coffee production?

The ________ rates are the cost of using someone else's money.

The _______ rate is the value of a currency compared to value of another