Intro to Bus Chapter 5 Review

Currency with an exchange rate set by the market forces of supply and demand in the foreign exchange market.

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

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 partnership of two of more companies that work together for a specfic business purpose is called a _______.

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

_____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.

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

The_____is the difference between a nation's exports and its imports

Having people from different backgrounds, cultures, or demographics coming together in a group.

Money is also known as

Total amount of money coming into a country less the total amount of money going out of a country for a specific time.

A business that operates in more than one country

A body of laws related to the exchange of goods and services for international trade.

_____ is when a business sells the rights to manufacture its products or use its trademark.

An embargo that affects only certain goods.

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

Person or company that buys the right to use a brand.

When a country can produce goods more efficiently and at a lower cost than another country.