Opportunities
International Trade
Measuring trade
Global markets
Barriers
100
What is the fastest growing country
China
100
When Global trade reduces dependence on one economy, risk is:
Reduced risk from global trade
100
A basic measure of the difference between a nation's exports and imports is called:
The Balance of Trade
100
What is contracting with foreign suppliers to produce products called?
Foreign outsourcing
100
What is a country's physical facilities that support economic activities called?
Infrastructure
200
The United States has a comparative advantage in?
Capital
200
When International trade is a source of new ideas, the result is:
Inflow of innovation from international trade.
200
When the total value of exports exceeds the value of imports, the result is:
Trade surplus
200
What is buying products from overseas called?
Importing
200
What are taxes levied against imports called?
Tariffs
300
Participation in global markets results in?
Greater access to factors of production
300
What is "having the lowest opportunity cost compared to other countries"
Comparative advantage
300
What is the value of one nation's currency relative to the currency of other nations?
Exchange rates
300
What is producing products domestically and selling them abroad called?
Exporting
300
What are trade restrictions to protect local businesses called?
Protectionism
400
What is the population of India
1,156,897,766
400
International trade offers opportunities to obtain________ that may not be available locally.
Access to factors of production
400
What is the newest global brand?
Global brand Google
400
What is offering other overseas businesses the right to produce and sell products under strict agreements called?
Foreign franchising
400
What are limitations on the amount of specific products that may be imported called?
Quotas
500
What is the per capital GDP of Brazil?
$10,200
500
What is the number one global brand?
Coca Cola
500
What is a barter arrangement between two nations called?
Countertrade
500
What is developing new overseas facilities from the ground up called?
Direct investment
500
GATT stands for:
General Agreement on Tariffs and Trade
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