POB 1.03

Question 1

Business activities needed for creating, shipping, & selling goods & services across borders...

Accepted Answer

Interational Business

Question 2

Items brought from other countries...

Accepted Answer

Imports

Question 3

Making, buying, & selling of goods and services within a country....

Accepted Answer

Domestic Business

Question 4

If a country imports more than it exports, it has a trade deficit. This is?

Accepted Answer

Unfavorable

Question 5

Which of the following is NOT included as a geographical issue that may affect global business?

Accepted Answer

Religion

Question 6

Which is NOT an environmental issue that can make a difference in global business?

Accepted Answer

Product Size

Question 7

Which of the following IS an advantage of exporting?

Accepted Answer

Exporting creates jobs

Question 8

Goods and services sold to other countries...

Accepted Answer

Exports

Question 9

If a country receives more money in a year than it pays out, it has a ____________ balance.

Accepted Answer

Favorable

Question 10

Which of the following is NOT an advantage of importing?

Accepted Answer

Possibly goods may be unavailable

Question 11

When a country specializes in production of good/service at which is relatively more efficient

Accepted Answer

Comparative Advantage

Question 12

The difference between the amount of money that comes into a country & the amount that goes out

Accepted Answer

Balance of Payments

Question 13

The difference between a country's total exports and total imports is....

Accepted Answer

Balance of trade

Question 14

Exists when a country can produce a good or service at a lower cost than other countries..

Accepted Answer

Absolute Advantage

Question 15

Which of the following is NOT an example of an ABSOLUTE ADVANTAGE?

Accepted Answer

Japan- Electronics

Questions 15