Global Trade
This nation, the world's most populous, is known as the "world's factory" and enjoys a major comparative advantage in plentiful and cheap labor.
People's Republic of China
This type of trade barrier, the most extreme type, completely bans the importation of a certain good or service from a country
Embargo
This type of Business Organization is owned by a single individual who also assumes the risk if the business fails.
Sole Proprietorship
This type of organization places authority in one centrally located place, with top-level managers
Centralized Organization
What type of work does a "producer" do that sets it apart from other types of businesses?
A producer gathers raw products in their natural state (Agriculture, Fishing, Minerals, Oil).
This nation, situated between India & Burma, is the world's largest textile (clothing) manufacturer, due to their large unskilled (cheap) labor pool.
Bangladesh
This type of agreement between two countries, eliminates or gets rid of all barriers to trade between them.
Free Trade Agreement
This type of business organization issues shares of ownership in the form of stock
Corporation
This term refers to the splitting up businesses into different units or departments. This can be based on their function (Accounting, Marketing, Payroll), what they make, or by region.
Departmentalization
After raw materials are gathered, they usually must be refined, or changed before they can be consumed or purchased by consumers. What types of businesses change raw goods into their final form?
Processors
This country, which shares a border with the US, is the United States' 2nd biggest trading partner next to China.
Mexico
This Caribbean country has famously been under embargo from the U.S. government for over 50 years as a result of a military crisis.
Cuba
Ocean Spray Juice Co., a collective of over 700 citrus and fruit farms across the U.S. who pool their resources to buy business supplies from advertisements to health insurance to their workers, is THIS type of business organization.
A Cooperative or Co-Op
This type of management structure lays out authority in a straight line from top-management down to low-level management such as shift supervisors.
Line authority
These types of businesses, also known as distributors, distribute goods by buying from manufacturers in huge quantities and selling to other businesses.
Wholesalers.
When a country decides to produce and export a particular good/industry, it usually means that it has a _________ advantage in producing/exporting it.
Comparative Advantage
This type of barrier to trade limits the quantity of goods and/or services that can be imported from a particular country.
Quota
This type of business involves the ownership of two or more people who both assume the risk of the business' debts.
A Partnership
What does the "S" in the S.T.A.R. Method stand for?
Situation
These types of businesses buy goods from distributors, and sell to end-consumers, or customers like yourself in smaller quantities.
Retailers
This Free Trade Agreement between Canada, The United States, and Mexico ensures that goods and services can flow between these countries without additional taxes or tariffs being placed on them.
N.A.F.T.A
Explain in your own words how Tariffs are designed to "protect" domestic jobs.
TEACHER DISCRETION
Name one benefit of a Corporation business model.
Limited liability, greater access to resources etc..
"I was at work last week and my new manager asked me to gather sales data, which I had never done before. I explained this to her and she instructed me to ask a colleague for help. I approached my coworker, Chris and asked if he could show me how to gather this on the computer, which he did. The following day I was able to place the report on my managers desk"
I approached my coworker, Chris and asked if he could show me how to gather this on the computer, which he did.
This is the type of business that performs tasks for customers, rather than selling them goods.
Service business or service industry.