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Ch 3 Global Business Flashcards | StudBud
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Ch 3 Global Business
Ch 3 Global Business
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Intro to Business Ch 3 Business in the Global Economy #entrepreneurship
Flashcards
19 cards
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Questions
19
Answers
1
When the value of exports is greater than the value of imports.
Trade Deficit
Trade Surplus
2
A business that outsources the labor of a call center to India does so because . . .
people in India are more tech savy
people in India are natural salespeople
their accent is easy for all countries to understand
the cost of labor is less expensive
3
Advertising for the iPod is the same all over the world.
Multinational Strategy
Global Strategy
4
Selling or shipping goods to another country.
Distributing
Importing
Receiving
Exporting
5
An agreement between US, Mexico, and Canada that makes importing/exporting more profitable.
NAFTA
IBEX
EU
GDP
6
When a country specializes in producing a good or service and is relatively more effecient
Special Advantage
Comparative Advantage
Trade Advantage
Absolute Advantage
7
Difference between the amount of money coming in and going out of a country.
Exchange Rate
Balance of Payments
Balance of Trade
8
Which of the following is NOT a goal of the World Trade Organization?
Encourage trade
Increase tariffs
Eliminate import quotas
Settle disputes
9
Gross domestic product (GDP)
total value of all goods produced all year
total value of goods and services produced all year
Created by Dept of Commerce to track importers of US goods
products from the NAFTA and EU trading blocs
10
The value of currency in one country compared with the value in another.
Balance of Trade
Balance of Payments
Exchange Rate
11
Which of the following can affect currency exchange rates?
economic conditions
infrastruction
political stability
literacy rate
12
Pepsi is the same no matter where in the world you buy it.
Multinational Strategy
Global Strategy
13
Buying or bringing in goods from another country.
Exchanging
Receiving
international trade
Importing
14
When a country can produce a good or service at a lower cost than other countries.
Absolute Advantage
Special Advantage
Comparative Advantage
Trade Advantage
15
An agreement between two or more companies to share a business project is called:
a joint venture
a proprietorship
licensing
franchising
16
Restrictions on goods entering or leaving a country.
restruction
trade barrier
international rules
tariff
17
Which of the following is an example of an informal trade barrier?
religion
embargos
quotas
tariffs
18
A type of trade barrier imposed as a tax.
Imported goods tax
Tariff
domestic goods
NAFTA
19
McDonalds offers different menu items in different countries.
Global Strategy
Multinational Strategy
