Volesky Intro to Business Ch. 3 Review

This is the business strategy that changes depending on what country you are in

A nation's transportation, communication and utility systems

The value of one country's currency compared with another country's currency

The U.S. currently has a _________   __________. 

Higher tarriffs __________ demand for products.

The exchange rate is the value of one currency compared with

Identify SWOT component: McDonalds restaurants in Russia would not allow alcohol or smoking

Which of the following is a trade agreement signed by the US, Canada, and Mexico?

The infrastructure of a country

Exports - Imports = __________  ___  __________. 

Items bought from other countries

Doing business across national borders

An unfavorable balance of trade

When a government stops the import or export of a product completely

Which strategy is this? McDonalds changes the menu in the different countries it is located.

Absolute advantage exists when a country is able to produce a good or service 

Which conditions are likely to cause the value of a nation's currency to decline?

When considering international business, you have two options as a business strategy. Identify.

Identify SWOT component: McDonalds had 27,000 Russians apply to work for them.

When a country can produce a good at a lower cost than any other country

The exchange rates are affected by what?

A strategy in which you do not change a thing about a company no matter what country you are in

An organization that does business in several consists of a home and host country

Which of the following affect currency values?

A favorable balance of trade

Restrictions to free trade.

Identify SWOT component: Rubles had almost no value.

A tax on imports

Identify SWOT component: 290 million people lived in Russia

Identify SWOT component: McDonalds produces high quality meat, potatoes, milk products

Which of the following affects the way people do business?

Accepted behaviors, customs, and values of a society are referred to as _________ . 

A limit set by the government on the quantity of a product may be imported or exported

Calculate the final cost. If the tariff on a bike is 10% and the bike's original cost is $100.

Where do you go to exchange one currency for another?

The infrastructure in the US is ___________________.

True or False: Religion has no impact on how people do business in other countries.

Which strategy is this? Coca-Cola uses the same polar bear commercial in all countries.

Goods or services sold to other countries.

Conducting international business in a country with low literacy levels will be ____   ______.

When a country can produce more than one good at a lower cost than some other countries

Which is NOT a factor that needs to be considered before doing business in other countries?