Chapter 3 Intro to Business

Stops the export/import of a product completely.

Country specializes in production of a good @ which it is relatively more efficient.

Difference between amount of money that comes into a country and that goes out.

Used to promote international business in a selected area where products can be imported duty-free and then stored.

Goods and services sold to other countries from the home country.

When doing international business culture can be a big factor

Refers to business activities needed for creating, shipping and selling goods and services across national borders.

Infrastructure is a significant factor that affects the economic development of a country.

Treats each country different- adapting to the customs, tastes, buying habits.

The making, buying and selling of goods and services within a country.

The value of country’s currency is like to decline as a result of what?

Helps to promote economic cooperation is the goal of what organization?

Goods and services brought in from outside of the country.

Right to use company name or business process in a specific way.

When a country can produce a good @ a lower cost than other countries.

Allows two companies to share raw materials, shipping facilities, management activities, or production activities.

Difference between a country’s total exports and total imports.

Is the country stable politically what international trade environment.

Which of the following is NOT an example of an informal trade barrier?

Each country may be at a different stage of literacy, technology, etc is what international trade environment.

Same product & marketing strategy worldwide.

What is NOT a benefits of international trade?

What is NOT a disadvantage of international trade?

Which of the following is not an advantage of franchising?

Location, climate, terrain, seaports, natural resources is what international trade environment.

A limit set on the quantity of a product.

Lowering tariffs that discourage free trade is the goal of what organization?

The rate that one currency is exchanged for another determined by supply and demand.

A tax a government places on certain imports.

What might cause a country's currency to rise?

How does a free trade agreement benefit all countries involved?

When a country’s imports exceed its exports, there is a trade what?

An informal trade barrier is created by government actions.

We export more goods than we import from a certain country- positive for GDP.

Accepted behaviors, customs, values of a society is what international trade environment.

We import more goods than we export from a certain country- negative for GDP.

Selling the right to use some intangible property for a fee or royalty

The European Union is an example of a what?