Principles of Business Chapter 3

Danielle researches language, customs, and values before moving a company into a country. What is she investigating?

Exists when a country specializes in the production of a good or service at which it is relatively more efficient

If a country exports more than it imports, it has a trade surplus?

Three main factors that affect currency exhange rates among countries?

In a free-trade zone, member countries agree to remove duties and trade barriers on products traded among them.

The difference between the amount of money that comes into a country and the amount that goes out is called a balance of

A country's culture, traditions, and religion can sometimes act as informal trade barriers.

One goal of the World Trade Organization is to eliminate import quotas?

Multinational companies sometimes control a country's political power?

The amount a country owes to other countries is called

Which of the following tends to discourage international trade?

An economy that is largely involved in agriculture generally can't provide a lot of high-quality products.

An agreement between two or more companies to share a business project is called?

This group helps maintain an orderly system of world exchange rates?

Which of the following situations represents an absolute advantage?

Without foreign trade, many things you buy would cost more or not be available.

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

Which of the following would likely cause the value of the dollar to RISE?

The value of currency in one country compared with the value in another is called the interest rate?

Infrastructure refers to a country's

Franchising is selling the right to use a trademark or brand name for a fee or royalty?

Domestic business refers to business activities needed for creating, shipping, and selling goods across national borders

A tax that a government places on certain imported products is called a tariff?

Exists when a country can produce a good or service at a lower cost than other countries is an absolute advantage.

Which of the following product in NOT imported to the US in any great quantity?