Intro to Business Ch. 3 Review

Absolute advantage exists when a country is able to produce a good or service 

An agreement between two or more companies to share a business project.

The infrastructure in the US is ___________________.

Organization that promotes trade around the world

Which words best explain the International Monetary Fund?

This is the business strategy that changes depending on what country you are in

Give me the best word to explain the main focus of the World Trade Organization

The right to use a company name or business in a specific way.

A nation's transportation, communication and utility systems

When a country can product more than one good at a lower cost than some other countries

When a country can produce a good at a lower cost than any other country

An unfavorable balance of trade

Organization's key function to give economic aid to less developed countries

Which of the following is NOT an international trade organization?

Which of the following affects the way people do business?

A strategy in which you do not change a thing about a company no matter what country you are in

Exports - Imports = __________  ___  __________. 

Higher tarriffs __________ demand for products.

The value of one country's currency compared with another country's currency

The U.S. currently has a _________   __________. 

An organization that does business in several consists of a home and host country

Which is the best word to explain the main focus of the World Bank?

Doing business across national borders

A tax on imports

Items bought from other countries

When a government stops the import or export of a product completely

Conducting international business in a country with low literacy levels will be ____   ______.

The infrasturcture of a country 

The exchange rates are affect by what?

Which of the following affect currency values?

Accepted behaviors, customs, and values of a society are referred to as _________ . 

Which is NOT a factor that needs to be considered before doing business in other countries?

A favorable balance of trade

Which conditions is likely to cause the value of a nation's currency to decline?

The exchange rate is the value of one currency compared with

Goods or services sold to other countries.

A limit set by the government on the quantity of a product may be imported or exported

Which of the following is a trade agreement signed by the US, Canada, and Mexico?

Restrictions to free trade.