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14 terms
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StudBud Administration
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7 plays
Global Business
Flashcards
14 cards
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Practice quiz
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Host live
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Questions
14
Answers
1
What is a reason that supports world trade?
Reduces customer choices
Limited market
Extends product life
2
What is a legal/regulatory force affecting global trade?
No common system of laws
Standard Laws
Language
Devaluation
3
How many products were in the video?
37
48
10
21
4
When a country can produce a product or service more effficiently than any other country.
Comparative Advantage
Absolute Advantage
5
What is an environmental force that creates a barrier to world trade?
Inferior Technology
Religion
Exchange Rate
6
When my company pays another company to produce our products overseas it is called _________.
Exporting
Franchising
Licencing
Contract Manufacturing
7
What type of tariff is imposed solely for the government to make money?
Protective Tariff
Revenue Tariff
8
What countries are included in NAFTA?
Mexico, Canada, USA
Guatamala, Mexico, Cuba
Cuba, USA, Mexico
9
What is a reason India is going to be a big part of the future of global trade?
IT, pharmaceuticals and biotechnology
Oil
10
What is a cultural barrier to trade?
Technology
Exchange Rate
Language
11
Why should companies consider going global?
Decrease GDP
Limit sales
Big market out there
Reduce product life
12
How many forces does the slide list that affect global trade?
3
1
4
2
13
What is the current standing organization that oversees world trade?
WTO (World Trade Organization)
GATT (General Agreement of Tariffs and Trade)
14
What is it called when two people exchange good or services?
Countertrading
Bartering
Devaluation
Exchange Rate
