A tax that a government places on certain imported products
What is tariff
100
Occurs when a country sells more than it buys
What is trade surplus
100
A limit on the quantity of a product that may be imported or exported
What is quota
100
Exists when a country can produce a good or service at a lower cost then other countries
What is absolute advantage
200
The cost of using someone else's money
What is interest rate
200
Completely prohibiting the import or export of a product
What is embargo
200
Items sold to other countries
What is exports
200
Exists when a country specializes in the production of a good or service at which it is relatively more efficient
What is comparative advantage
200
Occurs when a country buys more than it sells
What is trade deficit
300
Give an example of an absolute advantage
What is Honduras in banana production
300
The amount a country owes to other countries
What is foreign debt
300
This kind of company is an organization that does business in several countries
What is multinational
300
What is something that discourages international trade?
What is an embargo
300
MNCs sometimes control a country's what?
What is political power
400
The difference between a country's total exports and total imports
What is balance of trade
400
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
400
The three main factors that affect currency exchange rates among countries
What is balance of payments, economic conditions, and political stability
400
What is something that could cause the value of the dollar to RISE?
What is lower U.S. inflation
400
This product is not imported to the United States in any great quantity?
What is milk
500
Danielle's company is expanding into Korea and has asked her to research the language, customs, and values of the Korean people. Which aspect of the international business environment is Danielle investigating?
What is cultural influences
500
Infrastructure refers to a country's
What is transportation, communication, and utility systems
500
The three key effects on a country's level of economic development
What is literacy level, technology, and agricultural dependency
500
An organization with the goal to eliminate import quotas
What is the World Trade Organization
500
Many things you buy would cost more or not be available if it wasn't for