Gen Bus Chp 3

The United States conducts trade with over __ countries

The value of a currency in 1 country compared to the value in another country

A nation with a trade surplus is said to have a favorable trade position

Most business activity happens within a country's own borders

A nations transportation communication and utility system

The amount of money a country owes to other countries

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

When a nation imports more than it exports

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

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

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

Trade organization created after 1944 to provide rebuilding loans after WWII

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

The making, buying and selling of goods within a country is called

A country can have an absolute advantage in only one area

The right to use a company name or business process in a specific way

Which of the following is NOT a goal of the World Trade Organization

Situation in which a country specializes in the production of a good or service

Without foreign trade all items would cost less because there would be no shipping

Joint venture is an agreement by 2 countries to remove duties and taxes on goods traded

When a country has a favorable balance of payments its currency is usually constantly rising

Items bought from other countries

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

A country in which an MNC places business activities is called

Because of international trade all nations of the world use the same banking system

Goods and services sold to other countries are called

Licensing 

A limit that a government places on the quantity of a product that maybe exported/imported

Some countries limit the amount of money their citizens can take out of the country 

A tax that a government places on certain imported products

It is possible for the US to have a trade surplus with one country and a deficit with another

Countries that devote most of their economies to Ag usually provide more good and services

When a government completely stops the import or export of a product

About how many US jobs depend on international business?

A restriction on free trade

Business activities needed for creating shipping and selling goods across borders

The acceptable behaviors customs and values of a society

The cost of using someone elses money

An organization that does business in several countries

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

Common market members