PBMF - Ch. 5 Business In A Global Economy

An embargo that affects only certain goods.

When a country can produce goods more effieciently and at lower cost than another country.

Negative balance of trade.

___ is the process of sending and receiving messages between people of various cultures.

All the business activity involved in making, buying and selling product within a nation border

The ___ is a difference between a nation's exports and its imports.

The business activity involved in making, buying and selling product within a nation's borders

Planning and managing the flow of goods, services and people to a destination is

Total amount of money that comes in to a country, minus total that got out during a time period

___ is when a business sells the right manufacture its products or use it trademark.

Shared beliefs, customs, practices, and social behavior of a particular group or nation.

Parent company that owns a chain and a brand.

___ is the connection made among nations when economies freely move goods, labor and money.

A partnership of two or more companies that work together for a specific business purpose is

Person or company that buys the right to use a brand.

The goods and services produced within a country and sold to another country is

The shared beliefs, customs, practices, and social behavior of a particular group or nation is

A(n) ___ a group of countries that have reduced or limited trade barriers among themselves.

The cost to convert one currency into another.

The difference betweens a nations exports and its imports.

Goods and services that are produced within a country's borders and sold in another country.

A government tax on imported goods.

Currency with an exchange rate set by the market forces of supply and demand in foreign market

Having people from different backgrounds, cultures, demographics coming together in a group.

When a country specializes in producing a product at which it is relatively more efficient.