Unit 1 Test Review - BOM

The organized effort to make& sell, for profit, the goods that satisfy society's needs through the Internet is known as

When the US government spends more than it receives within a fiscal year, this is called the

___ is the ability to produce a specific product more efficiently than any other product.

The economic term used to describe the Federal Reserve's actions to control the supply of money and interest rates is

A legal monopoly is also referred to as a(n)

The World Trade Organization was created by the

The separation of a manufacturing process into distinct tasks and the assignment of tasks to individuals is called

A ___ is issued by the exporter's bank, ordering the importer's bank to pay for the merchandise.

Bob's poor education and chronic history of unemployment suggest that he could be helped by contacting the

The ___ is a source for US companies seeking information on federal programs and activities that support US exports.

If the Unites States and Japan cannot settle their trade disputes on their own, they should settle them through the

____ is a market situation (or industry) in which they are few sellers.

The US bans Cuban cigars & other products from entering the US due to political difficulties. This action is called a(n)

You have the responsibility to locate land for a new distribution center, & you own acres of land. This could create

Purchasing products or materials in other nations and bringing them into one own's country is

Despite trade restrictions, international business is

Product labels on detergent that indicate ingredients &laundering methods are examples of which consumer bill of rights?

A ___ is a partnership formed to achieve a specific goal or to operate for a specific period of time.

Strategic alliances and _____ ar very similar.

Who are the top two export partners of the Unites States?

Balance of payments is a ___ concept than balance of trade.

All of the following are factors that affect the level of ethical behavior in an organization except

The US buys automobiles from Japan and Germany and petroleum products from OPEC nations. The US engages in

What is the major source of human emissions of air pollution in the upper atmosphere?

Which type of pollution has seen the least improvement since environmental issues became important?

The form of international business structure developed to create competitive advantage on a worldwide basis are called

What two additional rights have been added to Kennedy's original consumer bill of rights?

Totally owned facilities overseas are an example of

A reduction of the value of a nation's currency relative to the currencies of other countries is called

Countries experiencing balance-of-payments deficits can obtain short-term loans from the

What are the two major problems that affirmative action programs have faced?

Any measure imposed by a government to favor domestic products not involving taxes is a(n)

An international org. formed at the end of WW II by the US whose goal was to reduce or eliminate tariffs is called

Another name for an import duty is a (n)

Monopolistic competition is a market situation in which

Miller Beer allows a Canadian firm to use its name, formula and brands in return for a royalty. This is known as

Arguments for imposing trade restrictions include

A complete halt to trading with a particular nation or in a particular product is called a(n)

The Federal Act which provided over $7 billion to the EPA to protect & promote "green" job and a healthier environment.

A program to implement social responsibility in business begins with

__________ is the exportation of large quantities of a product at a lower price than the same product in the home market

An org. of nations formed to promote free movement of goods among members & to create common economic policies is a(n)

As the price of a product rises, manufacturers that make and sell the product will likely

An unfavorable trade balance is called a(n)

When a country imports more than it exports, it has a(n)

The total flow of money into a country less the total flow of money out of the country over a period of time is called