Unit 3: Business in the Global Economy

When was the first iPod released?

The difference between the amount of money that comes in and out of a country is called

A limit on the quantity of products that may be exported or imported during a given period

A nation with a trade surplus is said to have a favorable trade position

What is the Grinch’s dog’s name?

The key effects on a country's level of economic development are

Which of the following countries has an absolute advantage in coffee production

A(n) ___ company is an organization that does business in several countries

It is possible for the US to have a trade surplus with a country and trade deficit with another

The making, buying, and selling of goods and services withing a country is called ..

A Multinational strategy treats each country's market differently.

What was the name of the high school in “Grease”?

Which of the following is NOT a cultural/social factor that affects international business

3 main factors that affect exchange rates are balance of payments, economic conditions, and __

The difference between a country's total exports and imports is called the balance of ___

Beliefs about not eating certain foods would be a formal trade barrier.

When a country has a favorable balance of payments, the currency value is constant or rising

the right to use a company name or business process in a specific way

Foreign debt is the amount of money that other counttries owe the United States.

completely prohibiting the import or export

a nation's transportation, communication, and utility systems are referred to as its ___

The difference between a country's total exports and total imports is called the

Value of currency in 1 country compared to currency value in another is called interest rate

Which singer’s real name is Robyn Fenty?

Goods and services sold to other countries are called

What popular young adult book series sends "tributes" to participate in a competition in which they fight to the death?

exists when a country can produce a good or service at a lower cost than other countries

A tax that a government places on certain imported products is called a(n)

A global strategy does not use the same product and marketing worldwide.

Domestic business is business that is done across international borders

A joint venture is a agreement between 2 or more countries to remove duties and trade barriers

A law requiring that stores be closed on Sunday would be a formal trade barrier

a country specializing in production of a good or service that it is relatively more efficient