Business, Customer, and Culture
A place where businesses and customers can interact with one another.
What is a marketplace?
The exchange of products and services between people and businesses in different countries.
What is international trade?
A belief that products should be free to move from country to country without barriers.
What is Free Trade?
A nation's money.
What is currency?
A business that was founded in another country and is located there.
What is an international business?
Income earned after all expenses are paid.
What is profit?
A product or service brought from another country.
What is an import?
A tax on an imported product.
What is a tariff?
The price of one nation's currency in terms of another nation's currency.
What is an exchange rate?
What is learning a second language?
What is ethics?
What is an export?
A limit on the amount of product that can be imported into a country.
What is a quota?
The currency of Japan.
What is Yen?
The exchange of a product or service.
What is trade?
The way of life of a group of people who share traditions, interests, beliefs, and everyday activities.
What is culture?
A process in which businesses and people focus on producing one or a few parts of an entire product.
What is specialization?
A level of expectation that stops or limits the sale of a product that doesn't meet certain requirements.
What is a standard?
The currency of Mexico.
What is a peso?
A situation in which a choice has to be made based on conflicting values.
What is an ethical dilemma?
An informal set of rules for how to act in a particular situation.
What is etiquette?
When businesses or people rely on each other for certain resources, products, or services.
What is interdependence?
A government action that decreases an industry's total costs, which also decreases the price of the industry's goods.
What is a subsidy?
The currency of China.
What is a yuan?
The interaction that occurs in the marketplace when all participating parties expect to gain.
What is voluntary exchange?