stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Chapter 3: Business in the Global Economy Flashcards | StudBud
Explore
/
Chapter 3: Business in the Global Economy
Chapter 3: Business in the Global Economy
41 terms
·
StudBud Administration
·
60 plays
Intro to Business Chapter 3: Business in the Global Economy
Flashcards
41 cards
F
Practice quiz
P
Host live
L
Questions
41
Answers
1
Value of currency in 1 country compared to currency value in another is called interest rate
False
True
2
completely prohibiting the import or export
tariff
embargo
quota
3
The key effects on a country's level of economic development are
location, climate, and natural resources
government system, political stability, and trade barriers
education, technology, and agricultural dependency
religion, traditions, and customs
4
selling the right to use some intangible property for a fee or royalty
a joint venture
free-trade agreement
franchising
licensing
5
They're exporters and importers. (no staff, warehouses, or sales offices in foreign countries)
Transnational
International
Global
Multinational
6
A nation with a trade surplus is said to have a favorable trade position
True
False
7
International business is frequently referred to as world or __ trade
international
global
balance of
foreign
8
Have a global headquarters & distribute decision-making power to various national headquarters
Transnational
Global
International
Multinational
9
common market memebers
have a common external duty on products being imported
impose high tariffs on one another's products
prohibit workers from moving freely across borders
produce and sell exactly the same products
10
value of currency in one country compared with the value in another
T rate
import
exchange rate
interest rate
11
When a country has a favorable balance of payments, the currency value is constant or rising
True
False
12
Occurs when a country buys more than it sells
import
trade surplus
trade deficit
export
13
exists when a country can produce a good or service at a lower cost than other countries
quota
comparative advantage
absolute advantage
trade surplus
14
a trade ___ is a restriction to free trade
surplus
deficit
barrier
exchange
15
a free-trade zone is a selected area where products can be imported duty-free & used
True
False
16
A limit on the quantity of products that may be exported or imported during a given period
tariff
trade surplus
quota
luxury tax
17
The making, buying, and selling of goods and services withing a country is called ..
importing
domestic business
world trade
international buisness
18
Occurs when a country sells more than it buys
positive
trade surplus
negative
trade deficit
19
a nation's transportation, communication, and utility systems are referred to as its ___
infrastructure
embargo
culture
buildings
20
A joint venture is a agreement between 2 or more countries to remove duties and trade barriers
False
True
21
A(n) ___ company is an organization that does business in several countries
big
global
international
multinational
22
Goods and services sold to other countries are called
contraband
tariffs
exports
imports
23
a country specializing in production of a good or service that it is relatively more efficient
absolute advantage
trade surplus
quota
comparative advantage
24
Domestic business is business that is done across international borders
True
False
25
the right to use a company name or business process in a specific way
franchise
embargo
licensing
joint venture
26
The difference between a country's total exports and imports is called the balance of ___
payments
trade
27
a limit on the quantity of a product that may be imported or exported
embargo
tariff
quota
28
3 main factors that affect exchange rates are balance of payments, economic conditions, and __
democracy
politics
war
political stability
29
MNC's sometimes control a country's political power.
True
False
30
Which of the following countries has an absolute advantage in coffee production
Ireland
USA
Brazil
Saudi Arabia
31
accepted behaviors, customs, and values of a society are referred to as ___
barrier
exchange
interest
culture
32
the amount a country owes another country
debt
national debt
foreign debt
world debt
33
The difference between a country's total exports and total imports is called the
trade deficit
trade surplus
foreign debt
balance of trade
34
a tax that a government places on certain imported products
quota
tariff
embargo
35
the cost of using someone else's money
interest rate
fines
exchange rate
jail
36
They invest directly in foreign assets & focus more on being responsive to local preferences
Global
Transnational
Multinational
International
37
It is possible for the US to have a trade surplus with a country and trade deficit with another
False
True
38
The difference between the amount of money that comes in and out of a country is called
balance of trade
balance of payments
foreign debt
all of the above
39
Have investments in dozens of countries maintain a strong headquarters in one
Transnational
Multinational
International
Global
40
A tax that a government places on certain imported products is called a(n)
quota
embargo
tariff
divestiture
41
Which of the following is NOT a cultural/social factor that affects international business
language
religion
climate
values
