Imports & Exports
Items bought from other countries.
What is importing?
The value of a currency in one country compared with the value in another.
What are foreign exchange rates?
Location, climate, terrain, waterways, and natural resources.
What are Geographic resources of business?
A tax that government places on certain imported products
What is a tariff?
Organizations that do business in several countries.
What is a multinational company?
Goods and services sold to other countries.
What is exporting?
When inflation happens the country’s money declines, the country’s currency is not as appealing.
What is economic conditions?
Language, food, religion, family, customs, and traditions.
What are Cultural factors of business?
A limit on the quantity of a product that may be imported and exported within a given period.
What is a quota?
Allows foreign companies to use a procedure.
What is licensing?
When a country can produce a good or service at a lower cost then other countries.
What is absolute advantage?
The difference between the amount of money that comes into a country and the amount that goes out of it.
What is balance of payments?
Technology, inflation, education, exchange rate, and infrastructure.
What are Economic factors of business?
Stopping the importing and exporting of a certain product or services.
What is an embargo?
Organizations enter into contracts with people in other countries to set up a business that looks and runs like the parent company.
What is franchising?
When a country specializes in a good or service at which it is relatively more efficient.
What is comparative advantage?
Government changes, new laws, uncertainty.
What is political stability?
Government system, political stability, trade barriers, and business regulations.
What are Political and Legal factors of business?
Increases the price of an imported product.
What is a tariff?
Companies share raw materials, shipping facilities, management activities, or production facilities.
What is a joint venture?
The difference between country’s total exports and total imports.
What is balance of trade?
Balance of payments, Economic conditions, and Political stability.
What are the three main factors affect the value of a country’s currency?
A nation’s transportation, communication, and utility systems
What is an infrastructure?
Prevents sensitive products from falling into the hands of unfriendly groups or nations.
What is an embargo?
Large amount of goods available,Lower prices,Career opportunities, Foster understanding, communication, and respect, and Friendly international relations.
What are the benefits of multi national corporations?