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