International Business Basics
The Global Marketplace
International Business Organizations
International Trade Barriers
Chapter 3 - Take your pick
100

Items bought from other countries and items sold to other countries

What are imports and exports?

100

Understanding location, climate, terrain, waterways and natural resources make up this factor of the International Business Environment.

What is Geography?

100

These are also called MNCs.

What are multinational companies?

100

These types of trade barriers are created by government actions.

What are formal trade barriers?

100

NAFTA and the USMCA are examples of this.

What is Free-Trade Agreement or Foreign Trade Agreement? (either answer will work)

200

The making, buying and selling of goods and services within a country.

What is domestic business?

200

Understanding technology, education and infrastructure make up this factor of the International Business Environment.

What is economics (or economic development)?

200

Uses the same product and marketing strategy worldwide.

What is global strategy?

200

Culture, tradition and religion create these type of trade barriers.

What are informal?

200

Free trade zones, Free-trade agreements, and common markets are all used to promote this.

What is International trade? 

300

Bananas, coffee, cocoa, spices, tea and silk are all these in the U.S.

What are imports?

300

This is a nation's transportation, communication and utility systems.

What is infrastructure?

300

The right to use a company name or business process in a specific way.

What is franchising?

300

This type of trade barrier puts a limit on the quantity that may be imported or exported.

What are quotas?

300

This was also called the International Bank for Reconstruction and Development.

What is the World Bank?

400

This exists when a country can produce a good or service at a lower cost that other countries, and may result from an abundance of natural resources or raw materials.

What is absolute advantage?

400

Understanding language, family, religion, customs, traditions and food are knowledge of this factor of the International Business Environment.

What is culture (or cultural influences)?

400

An agreement between two or more companies to share a business project.

What is a joint venture?

400

This trade barrier completely stops the import or export of a product.

What is an embargo?

400

This is a selected area where items can be imported duty free and then stored.

What is a free-trade zone or foreign trade zone? (either answer will work)

500

This occurs when business activities needed for creating, shipping and selling goods and services cross national borders.

What is International Business?

500

This is how many factors you need knowledge of in the International Business Environment.

What is 4?

500

Settles trade disputes and enforces free-trade agreements between its members.

What is the World Trade Organization or WTO?

500

This trade barrier is a tax placed on certain imported products.

What is a tariff?

500

The European Union (EU) and the Latin American Integration Association (LAIA) are both examples of this.

What are common markets?