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Global Business Flashcards | StudBud
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Global Business
Global Business
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Answers
1
How many forces does the slide list that affect global trade?
1
2
3
4
2
When a country can produce a product or service more effficiently than any other country.
Absolute Advantage
Comparative Advantage
3
What is a cultural barrier to trade?
Technology
Language
Exchange Rate
4
What is a reason India is going to be a big part of the future of global trade?
IT, pharmaceuticals and biotechnology
Oil
5
When my company pays another company to produce our products overseas it is called _________.
Licencing
Exporting
Franchising
Contract Manufacturing
6
What type of tariff is imposed solely for the government to make money?
Quota
Embargo
Revenue Tariff
Protective Tariff
7
What is the current standing organization that oversees world trade?
WTO (World Trade Organization)
GATT (General Agreement of Tariffs and Trade)
8
What is a reason that companies may want to get involved in world trade?
Extends product life
Reduces customer choices
Limited market
9
What is an environmental force that creates a barrier to world trade?
Inferior Technology
Religion
No Common Laws
Exchange Rate
10
Why should companies consider going global?
Decrease GDP
Reduce product life
Big market out there
Limit sales
11
What is it called when two people exchange good or services?
Exchange Rate
Countertrading
Devaluation
Bartering
12
What is a legal/regulatory force affecting global trade?
Language
Standard Laws
No common system of laws
Devaluation
13
What countries are included in NAFTA?
Guatamala, Mexico, Cuba
Brazil, Argentina, Cuba
Cuba, USA, Mexico
Mexico, Canada, USA
