Show:
VOCABULARY
INTERNATIONAL BUSINESS BASICS
INTERNATIONAL BUSINESS ORGANIZATIONS
INTERNATIONAL BUSINESS ENVIRONMENT
INTERNATIONAL TRADE
100
What is the difference between imports and exports?
Imports are items bought from other countries while exporting is goods and services being sold to other countries
100
What affects the value of currency?
Supply and demand
100

The country that a multinational company expands into

What is a Foreign country

100
What are the four main elements of the international business environment?
Geography, Economics, Culture, Political- Legal factors
100
What are the three common formal trade barriers?
Quotas, tariffs, and, embargoes
200
Define balance of trade
The difference between a country's total exports and total imports
200
This causes a trade deficit in a country
What is importing more than exporting
200
A marketing strategy where companies treat each market differently
What is a multinational strategy
200
This component of the international business environment includes mountains and rivers
What is geography
200
What's the difference between a formal trade barrier and an informal trade barrier?
A formal trade barrier is created by the government and informal trade barriers are created by the culture of the country
300
Define a multinational company.
An organization that does business in several countries.
300
When does a positive balance of payments occur?
When a nation receives more money in a year than it pays out.
300
The three methods commonly used to expand to new markets
What are licensing, joint-ventures, and franchising
300
What are the key effects on a country's level of economic development?
Literacy level, technology, agricultural dependency
300
An _____ can be created by government actions.
What is an information trade barrier
400
Define a joint venture.
An agreement between two or more companies to work on a shared business project
400
What are the three main factors that affect currency exchange rates among countries?
The country's balance of payments, economic conditions, and political stability
400
An international trade organization created in 1995 to encourage free trade
What is the World Trade Orginization
400
What are the six factors of culture?
language, family, religion, customs, traditions, food
400
A company is planning to sell the rights to its brand name for use in other countries. This is an example of _____
What is Licensing
500
What is infrastructure?
Infrastructure refers to a nation's transportation, communication, and utility systems.
500
When does absolute advantage exist?
Absolute advantage exists when a country can produce a good or service at a lower cost than other countries.
500
An international trade organization created after WWII to provide loans for rebuilding
What is World Bank
500
How does the agricultural dependency influence the economy? explain.
If a country is largely involved in agriculture then it usually does not have the manufacturing base to provide citizens with great quantity and high quality of a product.
500
What is a famous trade barrier from the US to Cuba
What is the Cuban embargo