Show:
4.1
4.2
5.1
5.2
Mixed
100
Define International Trade
What is Exchange of services between nations
100
What does subsidizing domestic industry do?
it lets them be more competitive
100
What are three intellectual property rights?
Copyright, trademark, patent.
100
How many employees are in a small business? How many in a large?
Large: >1000 Small: <100
100
Whats 9 +10 ?
21
200
What is Balance of Trade?
Difference in value between imports and exports.
200
What are 2 out of 3 ways a global market grows?
Advances in technology, trade barriers being reduced, and acceptance of capitalism.
200
Define Monopoly.
Exclusive control over a product or the means of producing it.
200
What are the 4 main functions of a business?
Production Management Finance Accounting
200
What is a free enterprise system?
Involves freedom of ownership and freedom to compete, to make a profit, and to take risks.
300
What is a tariff?
Tax on Imports.
300
What involves hiring a foreign manufacturer to make your own products?
Contract manufacturer.
300
What is the difference between price competition and non-price competition.
Price competition is the sale price of a product and non-price competition deals with quality of products, service, financing,and business location.
300
What is the range of profit for most businesses?
1-5%
300
What is the definition of Licensing?
Letting another company use a trademark, patent, brand etc. for a fee or royalty.
400
Define protectionism.
Government policy to restrict imports in order to protect their industry.
400
Define multinational and mini-national.
Multi-national: Large companies in different countries. Mini-national: Medium or small companies operating in foreign companies.
400
What are two examples of business risk?
Investing in stocks and taking out loans. (Answers can vary.)
400
Give an example of a surplus.
(Answers may vary.)
400
What are three trade alliances?
EU, NAFTA, WTO.
500
What does WTO stand for how many nations are in it?
World Trade Organization, 148 nations.
500
What is involved in promotion adaptation strategy?
Changing promotion or ads to be more familiar to foreign culture, values or beliefs.
500
Define Equilibrium.
When the supply and demand are equal.
500
When does a surplus occur?
Occurs when supply exceeds demand.
500
What businesses are in an industrial market?
Extractors, construction companies, manufacturers, wholesalers, and retailers.