Chapter 3.1 & 3.2 - Business in the Global Economy

What is a Free-Trade Zone?

About how many U.S. jobs depend on international business?

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

What is the term for a business strategy in which a company offers variations of its products to meet global demands?

Which theory suggests that countries should specialize in the production which they have a comparative advantage?

What is a multinational corporation (MNC)?

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

Which factor is NOT typically considered a component of the international business environment?

What is the purpose of a trade embargo imposed by a country?

What is the role of the International Monetary Fund (IMF) in the global economy?

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

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

What is the primary function of the World Trade Organization (WTO)?

Goods and Services sold to other countries is called what?

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

Which of the following scenarios is likely to cause the value of a country's currency to rise?

Making, buying, and selling of goods and services within a country is called what?

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

What is globalization in the context of business?

A limit that a government places on the quantity of a product exported or imported is called what?

The United States conducts trade with over how many countries?