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Global Business
Global Business
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Review of Chapter 2, what you know, what you don't know.
Flashcards
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Questions
16
Answers
1
What countries are included in NAFTA?
Guatamala, Mexico, Cuba
Brazil, Argentina, Cuba
Cuba, USA, Mexico
Mexico, Canada, USA
2
How many forces does the slide list that affect global trade?
1
2
4
3
3
Why should companies consider going global?
Reduce product life
Big market out there
Limit sales
Decrease GDP
4
What is a legal/regulatory force affecting global trade?
Devaluation
No common system of laws
Language
Standard Laws
5
What is one of the reasons that companies may want to get involved in world trade?
Reduces customer choices
Limited market
Extends product life
6
Check all that apply to the Balance of Payments Measurement
Tariffs
Tourism
Military expenditures
Foreign Aid
7
When my company pays another company to produce our products overseas it is called _________.
Contract Manufacturing
Franchising
Licensing
Exporting
8
When a country can produce a product or service more effficiently than any other country.
Absolute Advantage
Comparative Advantage
9
What is the current standing organization that oversees world trade?
WTO (World Trade Organization)
GATT (General Agreement of Tariffs and Trade)
10
When my company gets a fee to allow another company to produce and sell products with our brand _________.
Contract Manufacturing
Exporting
Franchising
Licensing
11
What countries are setting themselves up to lead world trade? (Select All that apply)
India
Russia
China
Brazil
12
What is a cultural barrier to trade?
Technology
Exchange Rate
Language
13
What does the following equation measure: Exports - Imports =
Balance of Trade
Balance of Payments
14
What is an environmental force that creates a barrier to world trade?
Inferior Technology
Religion
No Common Laws
Exchange Rate
15
What is it called when two people exchange good or services?
Devaluation
Countertrading
Bartering
Exchange Rate
16
What type of tariff is imposed solely for the government to make money?
Quota
Protective Tariff
Embargo
Revenue Tariff
