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Ch 3 Global Business Flashcards | StudBud
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Ch 3 Global Business
Ch 3 Global Business
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Ch 3 Business in the Global Economy #entrepreneurship
Flashcards
19 cards
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Questions
19
Answers
1
When a country can produce a good or service at a lower cost than other countries.
Special Advantage
Absolute Advantage
Comparative Advantage
Trade Advantage
2
An agreement between two or more companies to share a business project is called:
a proprietorship
franchising
licensing
a joint venture
3
Restrictions on goods entering or leaving a country.
trade barrier
tariff
international rules
restruction
4
Which of the following is an example of an informal trade barrier?
quotas
embargos
religion
tariffs
5
A type of trade barrier imposed as a tax.
NAFTA
Imported goods tax
domestic goods
Tariff
6
Pepsi is the same no matter where in the world you buy it.
Multinational Strategy
Global Strategy
7
Gross domestic product (GDP)
total value of goods and services produced all year
Created by Dept of Commerce to track importers of US goods
total value of all goods produced all year
products from the NAFTA and EU trading blocs
8
When the value of exports is greater than the value of imports.
Trade Surplus
Trade Deficit
9
Buying or bringing in goods from another country.
Importing
Exchanging
Receiving
international trade
10
Selling or shipping goods to another country.
Importing
Receiving
Exporting
Distributing
11
When a country specializes in producing a good or service and is relatively more effecient
Special Advantage
Absolute Advantage
Comparative Advantage
Trade Advantage
12
McDonalds offers different menu items in different countries.
Global Strategy
Multinational Strategy
13
Which of the following can affect currency exchange rates?
economic conditions
political stability
literacy rate
infrastruction
14
Advertising for the iPod is the same all over the world.
Multinational Strategy
Global Strategy
15
Difference between the amount of money coming in and going out of a country.
Balance of Payments
Exchange Rate
Balance of Trade
16
Which of the following is NOT a goal of the World Trade Organization?
Increase tariffs
Eliminate import quotas
Encourage trade
Settle disputes
17
The value of currency in one country compared with the value in another.
Balance of Trade
Exchange Rate
Balance of Payments
18
A business that outsources the labor of a call center to India does so because . . .
people in India are natural salespeople
the cost of labor is less expensive
people in India are more tech savy
their accent is easy for all countries to understand
19
An agreement between US, Mexico, and Canada that makes importing/exporting more profitable.
NAFTA
EU
GDP
IBEX
