A
a nation’s transportation, communication, and utility systems refer to what term?
Infrastructure
International Business is most often other referred to as what?
Foreign Trade
Term for a tax that a government places in certain imported products
Tarriff
What is the term for an agreement between two or more companies to share a business project?
Joint Venture
What does "free-trade" mean?
Having the ability and freedom to trade any goods or services with any country.
T-Shirt manufacturers and professional sports teams have to engage in a _________ _________ in order for clothing to be made with their logo on it.
Licensing Agreement
A society's ______ has a strong influence on business activities.
Culture
What 3 key responsibilities come along with a company being Socially Responsible?
Environmental protection, Diversity, Safety
term for the limit a government sets on the quantity of a product that may be imported or exported within a given period
Quota
The name for the set of rules for guiding the actions of employees or members of an organization
Code of Ethics, sometimes referred to as a Code of Conduct
What does the EPA stand for? What do they do?
Environmental Protection Agency. They enforce standards for water and air quality.
What does the ADA stand for? What do they do?
Americans with Disabilities Act. They have made improvements in accommodating workers who are physically challenged.
Give one example of how Mexico's culture can influence their business activity.
In Mexico, many businesses close for a few hours in the afternoon while people enjoy lunch and a siesta.
a word, letter, or symbol linked with a specific company or product is called a
Trademark
If a government wishes to do so, it can stop the export or import of a product completely.
This action is called a what?
Embargo
The value of a currency in one country compared with the value in another is called the...
Exchange Rate
What is it called when a country can produce a good or service at a lower cost than other countries? They produce this product cheaper or more efficient than anyone else.
Absolute Advantage
Suppose you want to buy an imported motorcycle. The producer charges $6,000 but the Government imposes an 18% Tarriff on imported vehicles. How much will you (the consumer) be paying for the motorcycle?
$7,080
______ is the term referring to knowing the difference between right and wrong. What is acceptable and what is not allowed in the workplace.
Ethics
What are the 3 types of Intellectual Property?
Patents, Copyright, and Trademarks
ADEA stands for ____ _______ in _______ Act. What is its purpose?
Age Discrimination in Employment Act. This act bars employers from using age as a basis for employment decisions such as hiring, promoting, or firing.
What is the difference between the balance of trade and balance of payments?
Balance of trade is the imports and exports coming into or leaving the country. Balance of payments is the actual money associated with those trades.
The duty of a business to contribute to the well-being of a community is called
Social Responsibility
What are the 3 types of trade barriers?
Quota, Tarriff, and Embargo
What is the Administration put in place to enforce health and safety standards in the work place? What does the acronym stand for?
OSHA (Occupational Safety and Health Administration)