Global Markets
The European Union’s common currency?
What is the Euro?
This is the common Japanese greeting in a business setting.
What is bowing?
This term describes a tax on imports or exports.
What is a tariff?
This is the currency used in the United Kingdom.
What is the British Pound?
This Japanese company is one of the largest automakers in the world and is known for its hybrid model, the Prius.
What is Toyota?
This Asian country is known as the world’s largest manufacturer and exporter of goods
What is China?
This European country is known for its emphasis on formality, punctuality, and use of titles in business.
What is Germany?
WTO stands for this and the main purpose of this intity?
What is the World Trade Organization and to regulate international trade?
This currency, symbolized by the C$, is the official currency of Canada.
What is the Canadian Dollar?
Headquartered in Munich, this German automaker’s slogan is "The Ultimate Driving Machine."
What is BMW?
BRICS stands for this group of participating nations.
What is Brazil, Russia, India, China, and South Africa?
In this country 'siesta,' is a midday break, traditionally part of the culture, especially in the summer.
What is Spain?
This economic concept explains why countries benefit from trading goods they can produce at a lower opportunity cost than others.
What is comparative advantage?
This is the exchange rate system where a currency's value is set relative to another currency, like the U.S. dollar.
What is a pegged or fixed exchange rate?
Known for its minimalistic style and low-cost furniture, this Swedish brand has stores in over 50 countries worldwide.
What is IKEA?
This trade agreement replaced NAFTA in 2020, impacting trade between the U.S., Canada, and Mexico.
What is the USMCA? (United States-Mexico-Canada Agreement)
'Guanxi,' is an important concept in business relationships in this country and carries this meaning.
What is China, and what are personal connections and relationships?
This organization of oil-exporting countries has a major impact on global oil prices.
What is OPEC (Organization of the Petroleum Exporting Countries)?
This economic indicator compares the purchasing power of different countries' currencies through a "basket of goods" approach.
What is Purchasing Power Parity (PPP)?
This company, based in the Netherlands, is a major player in electronics, health technology, and lighting.
What is Philips?
This region, often called "the world’s factory," is known for its massive export economy focused on electronics and machinery.
What is East Asia?
In Russia, it's considered bad luck to shake hands over this common household item.
What is a threshold or doorway?
This type of tax, popular in the EU, is added at each stage of production or distribution on goods and services.
What is a Value-Added Tax (VAT)?
When a country’s currency is devalued, exports become this relative to foreign buyers.
What is cheaper?
This global electronics brand, originally founded in 1930 as a manufacturer of audio equipment, is now a major player in consumer electronics, mobile phones, and home appliances, and is headquartered in South Korea.
What is LG (formerly Lucky Goldstar)?