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Global Business
Global Business
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12 plays
Review of Chapter 3, what you know, what you don't know.
Flashcards
12 cards
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Practice quiz
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Questions
12
Answers
1
What is the current standing organization that oversees world trade?
WTO (World Trade Organization)
GATT (General Agreement of Tariffs and Trade)
2
What is a reason that supports world trade?
Increased profits straight away
Extends product life
Reduces customer choices
Limited market
3
What is a cultural barrier to trade?
Exchange Rate
Language
Technology
4
What is a legal/regulatory force affecting global trade?
Devaluation
No common system of laws
Standard Laws
Language
5
Why should companies consider going global?
Decrease GDP
Reduce product life
Limit sales
Big market out there
6
What is a reason India is going to be a big part of the future of global trade?
Oil
IT, pharmaceuticals and biotechnology
7
How many forces does the slide list that affect global trade?
4
2
3
1
8
When my company pays another company to produce our products overseas it is called _________.
Exporting
Franchising
Licencing
Contract Manufacturing
9
What is an environmental force that creates a barrier to world trade?
Inferior Technology
Religion
Exchange Rate
10
What is it called when two people exchange good or services?
Bartering
Countertrading
Devaluation
Exchange Rate
11
When a country can produce a product or service more effficiently than any other country.
Absolute Advantage
Comparative Advantage
12
How many products were in the video?
10
37
48
21
