Ch.3 ITB Review

The exchange rate is the value of one currency compared with

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

Goods or services sold to other countries.

Identify SWOT component: 290 million people lived in Russia

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

Items bought from other countries

A favorable balance of trade

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

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

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

An unfavorable balance of trade

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

Which strategy is this? McDonalds changes the menu in the different countries it is located.

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

The infrastructure in the US is ___________________.

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

Higher tarriffs __________ demand for products.

Identify SWOT component: McDonalds restaurants in Russia would not allow alcohol or smoking

Doing business across national borders

Which of the following affect currency values?

Which of the following affects the way people do business?

Identify SWOT component: McDonalds had 27,000 Russians apply to work for them.

A tax on imports

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

The exchange rates are affect by what?

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

Restrictions to free trade.

A nation's transportation, communication and utility systems

Which strategy is this? Coca-Cola uses the same polar bear commercial in all countries.

Which of the following is NOT an international trade organization?

Identify SWOT component: Rubles had almost no value.

The U.S. currently has a _________   __________. 

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

Where do you go to exchange one currency for another?

Exports - Imports = __________  ___  __________. 

Calculate the final cost. If the tariff on a bike is 10% and the bike's original cost is $100.

The infrastructure of a country

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

Identify SWOT component: McDonalds produces high quality meat, potatoes, milk products

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

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

When considering international business, you have two options as a business strategy. Identify.

True or False: Religion has no impact on how people do business in other countries.