Chapter 3.1 & 3.2 - Business in the Global Economy

Which of the following scenarios is likely to cause the value of a country's currency to rise?

What is a multinational corporation (MNC)?

A tax that a government places on certain imported products is called what?

The difference between the amount of money that comes into and out of a country is called what?

Which of the following is NOT a cultural/social factor that affects international business?

Which theory suggests that countries should specialize in the production which they have a comparative advantage?

What is the role of the International Monetary Fund (IMF) in the global economy?

Making, buying, and selling of goods and services within a country is called what?

The key effects on a country's level of economic development are what?

Which factor is NOT typically considered a component of the international business environment?

The difference between a country's total exports and total imports is called the what?

What is the term for a business strategy in which a company offers variations of its products to meet global demands?

What is the primary function of the World Trade Organization (WTO)?

The United States conducts trade with over how many countries?

What is the purpose of a trade embargo imposed by a country?

A limit that a government places on the quantity of a product exported or imported is called what?

Which of the following countries has an absolute advantage in coffee production?

Goods and Services sold to other countries is called what?

What is globalization in the context of business?

About how many U.S. jobs depend on international business?

What is a Free-Trade Zone?