CHAPTER 5 BUSINESS IN A GLOBAL ECONOMY

A ________________ is a group of countries that join together to trade as if they are a single country.

Parent company that owns a chain and the brand.

_________ is when a business sells the right to manufacture its products or use its trademark

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

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

An embargo that affects only certain goods.

A ____________ is a limit on the amount of a product imported into a country during a specific period of time.

Total amount of $ that comes in to a country, minus the total amount of $ that goes out for a specific period of time

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

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

A____________ is a group of countries that have reduced or eliminated trade barriers among themselves

A partnership of two or more companies that work together for a specific business is called a ___________.

A _____________is any government action taken to control or limit the amount of imports.

_______________ is the use of English by people with a different native language.

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

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

A business that operates in more than one country is called a __________________.

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

___________ 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's borders.

A______________ is a body of laws related to the exchange of goods and services for international trade.

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

A government tax on imported goods.

Money is also known as _____________.

The cost to convert one currency into another is______________?

Goods and services that are brought into country from outside its borders are called ________________.

_______________ is when a business sells the right to manufacture its products or use its trademark.

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

The goods and services produced within a country's borders are sold in another country are _____________.

Negative balance of trade is called __________,

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

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

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

The document listing the conditions and terms for importing and exporting products between countries is a ______________