Chapter 5 Review

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

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

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

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

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

____ is the process of sending and receiving messages between people of various cultures.

A(n) ____ a group of countries that have reduced or eliminated trade barriers among themselves.

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

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

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

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

An embargo is a limit on the amount of a product imported into a country during a specific period of time