Business in Global Economy
The buying and selling of goods and services across national borders is I____________ T_________
International Trade
Having people from different backgrounds, cultures, or demographics coming together in a group
Diversity
Give me one reason a business may fail
Lack of money.
Lack of business experience.
Poor management skills.
Inefficient inventory control.
Poor credit management.
Poor location.
Improper budgeting.
Lack of advertising.
Natural disasters.
1 out of every 8 American's has been employed by this fast food place
McDonald's
The name of the even where the people of MA threw the British Tea into the harbor in protest
Boston Tea Party
Goods, services, and capital that are brought into a country from outside its borders are called ________
Imports
What is a Challenge of International Communication
Challenging to get over the language barrier
Also a time barrier
Also a training barrier
An independent agency of the federal government dedicated to helping entrepreneurs start, build, and grow their business
Small Business Administration
Rubiks Cube is the best selling product of all time, what is in 2nd?
Iphones
Who just won the latest Heisman Trophy?
Travis Hunter
Goods and services that are produced within a country’s borders and sold in another country are called _____________
Exports
If you are a US company and are making products in India, which labor laws do you need to obey?
Both the US and India
Money to begin your business is called S_____-U__ C__________
Start-up Capital
Which industry has the MOST advertisements in the world?
Automobiles
When is the "National Ice Cream" Month?
July
When a country specializes in producing a product at which it is relatively more efficient it is _____________ advantage
Comparative Advantage
The right to sell a company’s goods or services in a specific area is _____________
Franchising
Name 3 of the 5 P's
Purpose, Passion, Persistence, People, Profit
The biggest food service companies in the world are McDonald's, S__________, and S_____________
Subway and Starbucks
What was the first Disney animated feature movie that was not based on an already existing story?
The Lion King
Who has comparative advantage in Phones?
US: 2 Phones 1 Computer
Japan: 2 Phones 6 Computers
US .5
A business sells the right to manufacture its products or use its trademark is ____________
Licensing
What % of entrepreneurs are high school graduates? (answer has to be within 7%)
About 85%
Which industry has the SECOND MOST advertisements in the world. C________
Cereal
What was the original purpose of the tiny pocket in jeans?
To store pocket watches