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3-2 THE GLOBAL MARKETPLACE Flashcards | StudBud
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3-2 THE GLOBAL MARKETPLACE
3-2 THE GLOBAL MARKETPLACE
14 terms
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StudBud Administration
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165 plays
components of international trade/ formal trade barriers/ encourage international trade
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Questions
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Answers
1
Regulate international trade a gov't sets limit on the quantity of a product for import/export
tariffs
trade barista
quotas
embargo
2
Comparative advantage is when a country could produce one item, but do not and produce another
true
false
3
A ___zone where an area's products can be imported tax free, stored and used in manufacturing
linear seige
free-trade
common market
multi-market
4
Political and Legal Factors of the International Business Environment are:
all of the above
politcal stability
government system
business regulations/ trade barriers
5
What main factors will businesses consider when going into International Business Environment?
geography, culture, economic development, and politic/legal
money, time, skills, and technology
GDP, unemployment, distance, and time
culture, language, logistics, and exchange
6
Allowing companies to invest freely in each member's country means they have a common market
True
False
7
The NAFTA of 1994 is an agreement made between United States, Canada, and Mexico to end tariffs
True
False
8
Factor for trade called infrastructure; is a nation transportation/communication/utility system
False
True
9
This is the complete stop used by a government of a products export/import
shut-down
turn-down
textile
embargo
10
A gov't chooses to export and have free-trade (no charge for imports) because of this reason.
economic prosperity
all of the above
create jobs
promote international relations
11
Gov't actions when dealing internationally can create ___ _which are restrictions on free trade
embargo
trade barrier
quota
free-trade zone
12
Device that governments use to control international trade is a tax on certain goods.
True
False
13
When a country can produce a good at a significant lower cost than another country
comparative advantage
absolute advantage
14
Economic Development in countries (how to use resources) are affected by these key factor's
climate, terrain, water
government, political stability, trade barrier
language, family, religion
literacy level, technology, agricultural dependency
