Introduction to Business : Chapter 3 Review

The key effects on a country's level of economic development are

the right to use a company name or business process in a specific way

Goods and services sold to other countries are called

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

Have investments in dozens of countries maintain a strong headquarters in one

Occurs when a country buys more than it sells

a country specializing in production of a good or service that it is relatively more efficient

a trade ___ is a restriction to free trade

They're exporters and importers. (no staff, warehouses, or sales offices in foreign countries)

distribute decision-making power to various national headquarters

exists when a country can produce a good or service at a lower cost than other countries

the cost of using someone else's money

a nation's transportation, communication, and utility systems are referred to as its ___

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

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

focus more on being responsive to local preferences

the amount a country owes another country

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

Occurs when a country sells more than it buys

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

selling the right to use some intangible property for a fee or royalty

value of currency in one country compared with the value in another

International business is frequently referred to as world or __ trade

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

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