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Ch 3 Global Business Flashcards | StudBud
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Ch 3 Global Business
Ch 3 Global Business
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Intro to Business Ch 3 Business in the Global Economy
Flashcards
19 cards
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Questions
19
Answers
1
A type of trade barrier imposed as a tax.
NAFTA
Tariff
domestic goods
Imported goods tax
2
McDonalds offers different menu items in different countries.
Multinational Strategy
Global Strategy
3
Gross domestic product (GDP)
Created by Dept of Commerce to track importers of US goods
total value of goods and services produced all year
products from the NAFTA and EU trading blocs
total value of all goods produced all year
4
Advertising for the iPod is the same all over the world.
Global Strategy
Multinational Strategy
5
Which of the following can affect currency exchange rates?
infrastruction
economic conditions
political stability
literacy rate
6
An agreement between two or more companies to share a business project is called:
a joint venture
franchising
licensing
a proprietorship
7
Which of the following is NOT a goal of the World Trade Organization?
Encourage trade
Settle disputes
Eliminate import quotas
Increase tariffs
8
Difference between the amount of money coming in and going out of a country.
Exchange Rate
Balance of Payments
Balance of Trade
9
When a country can produce a good or service at a lower cost than other countries.
Absolute Advantage
Comparative Advantage
Special Advantage
Trade Advantage
10
When a country specializes in producing a good or service and is relatively more effecient
Trade Advantage
Absolute Advantage
Comparative Advantage
Special Advantage
11
A business that outsources the labor of a call center to India does so because . . .
the cost of labor is less expensive
their accent is easy for all countries to understand
people in India are natural salespeople
people in India are more tech savy
12
When the value of exports is greater than the value of imports.
Trade Surplus
Trade Deficit
13
Buying or bringing in goods from another country.
international trade
Importing
Exchanging
Receiving
14
Selling or shipping goods to another country.
Distributing
Exporting
Receiving
Importing
15
An agreement between US, Mexico, and Canada that makes importing/exporting more profitable.
NAFTA
EU
GDP
IBEX
16
Pepsi is the same no matter where in the world you buy it.
Multinational Strategy
Global Strategy
17
Restrictions on goods entering or leaving a country.
trade barrier
restruction
tariff
international rules
18
The value of currency in one country compared with the value in another.
Balance of Payments
Balance of Trade
Exchange Rate
19
Which of the following is an example of an informal trade barrier?
embargos
quotas
tariffs
religion
