2023-24 FOB chapter 3

The ___ rate is the value of a currency in one country compared with the value in another.

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

Licensing has a low financial investment, so the potential financial return is often low.

A country in which a multinational company conducts business activities is called the

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

When a government completely stops the import or export of a product, it is called an embargo

It is possible for the United States to have a trade surplus with one country and trade deficit with another

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

A country can have an absolute advantage in only one area

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

An area where products are imported duty-free and then stored, assembled, or used in manufacturing is a free trade zone

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

Countries that devote their economies to agriculture provide more and better goods and services for their citizens

Without foreign trade, all of the items would cost less, because they would not need to be shipped here from other lands

Goods and services sold to other countries are called

Items bought from other countries are called exports

Which of the following scenarios is likely to cause the values of the country's currency to rise

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

If a nation imports more than it exports, it has a trade deficit

Selling the right to use some intangible property for a fee or royalty is called

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

About how many US jobs depend on international business?

A franchise is the right to use a company name or business process in a specific way.

Mr. Salmon is an award winner in what sport:

The key factors that affect a county's level of economic development are

The accepted behaviors, customs, and values of a society are referred to as tradition

The home country, or "parent country", is the country a Multinational Corporation begins in.

A country that specializes in the production of a good or service that's relatively more efficient is called _ advantage

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

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

Joint Venture is an agreement among 2 or more countries 2 remove duties and trade barriers on products traded among them

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