A limit on the quantity of a product that may be imported or exported within a given period is called:
Quota
100
What does USD stand for?
United States Dollar
100
An agreement between two or more companies to share a business project is called:
Joint venture
200
The difference between the amount of money that comes into a country and the amount that goes out of it is called:
Balance of payments
200
The value of a country's currency is likely to decline as a result of: (a.) higher inflation (b.) lower interest rates (c.) a trade surplus (d.) a favorable balance of payments
a. higher inflation
200
When a government can stop the export or import of a product completely, this is called:
Embargo
200
What does WTO stand for?
World Trade Organization
200
An organization that does business in several countries is called:
Multinational company
300
Goods and services sold to other countries is called:
Exports
300
Which example is the Japanese currency?
(a.) Euro (b.) Rand (c.) Yen (d.) Won
c. Yen
300
DOUBLE JEOPARDY - the team that chose this question is the ONLY team that can participate. What is your wager?
What are the three (3) key effects on a country's level of economic development?
300
What does MNC stand for?
Multinational Company
300
Selling the right to use some intangible property for a fee or royalty is called:
Licensing
400
The value of a currency in one country compared with the value in another is called:
Exchange rate
400
What main country is our US dollar worth less?
Japan
400
Restrictions to free trade is called:
Trade barriers
400
What does NAFTA stand for?
North American Free Trade Agreement
400
Religion is an element of the __________ component of the international business environment? (a.) geographic (b.) economic (c.) cultural (d.) political
c. Cultural
500
The difference between a country's total exports and total imports is called:
Balance of trade
500
What country calls their currency the dollar other than the US? (a.) South Korea (b.) South America (c.) Canada (d.) Australia
c. Canada
500
This refers to a nation's transportation, communication, and utility systems:
Infrastructure
500
What does UN stand for?
United Nations
500
DOUBLE JEOPARDY - the team that choose this question is the ONLY team that can answer. What is your wager?
List the four main factors that businesses consider.