ORIGINAL i2B Ch3 Global Business Practice

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

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

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

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

The situation in which a country specializes in the production of a good/service which is more efficient is called

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

Foreign ____________________ is the amount a country owes to other countries.

Which of the following is NOT a goal of the World Trade Organization?

Currency exchange of 70 Brit pounds. Exchange $105 US for 70 pounds. Value of 1 pound in US$?

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

Items bought from other countries are called ____________________.

A joint venture is an agreement between two+more countries to remove duties and trade barriers on products.

A limit that gov't places on quantity of a product that may be exported or imported during a given period is called a

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

This international trade organization was created in 1944 to provide loans for rebuilding after World War II.

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

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

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

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

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

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

What is a free-trade zone?

A negative or ____________________ balance of payments occurs when a country sends out more money than it brings in.

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

It is possible for the United States to have a trade surplus with one country and a trade deficit with another.

The difference between the amount of $ that comes into country and amt that goes out = balance of payments

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

____________________ rates are the cost of using someone else’s money.

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

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

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

Goods and services sold to other countries are called

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