Business Basics Ch. 3 Review

A country can have an absolute advantage in only one area.

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

If a United States company is located in the United States the United States is called the _____ _______.

The organization that helps nations with financial difficulties in paying back loans or imports

If the United States places a tax on foreign cars it is doing what?

1 out of every 6 U.S. jobs depend on international business.

More exports than imports is called a ___

The next test in Business Basics will cover which chapters?

If the US buys lots of fish and chips from the UK what happens to the value of UK currency?

If the United States refuses to sell weapons to Pakistan it has used what trade barrier?

Three main factors that affect currency.

When a country can produce a good or service at a lower cost than other countries.

What is the free trading agreement between the United States, Canada, and Mexico called?

What is the main reason for the growth of international business?

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

Goods and services bought from another country.

This is based on the ability of a nation to produce a good more efficiently than another nation

If the United States limits the number of Japanese cars imported to 10,000 it has done what?

Trade barriers include tariffs, embargoes and ____________.

What is international business?

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

A country that wishes to enhance international trade activities would most likely use:

If a company has production or service facilities in a foreign country that country is called?

Culturally insensitive behaviors can cause international business failures. 

If the United States refuses to do business which Cuba it has placed what on Cuba?

A country's infrastructure refers to its climate and natural resources.

What is the name of the organization created in 1944 that provided loans for rebuilding after WWII?

Good and services sold to another country

What is the trading block of European countries called?

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

The three main types of trade barriers are tariffs, quotas and ____________________.

The potential for sales abroad does what to the overall size of the market?

International organization that creates and enforces rules governing trade between countries?

The organization that resolves international business problems.

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

The United States is doing what when they buy fruit shipments from Brazil?

The balance of trade is the difference between a country's total _______ and total ________.

The United States conducts trade with more than ____ countries.

Religion is an element of the _______ component of the international business environment.

Business that takes place between two or more countries is what?

Tariffs are.....

Ch.3 covered what topic?