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World of business
Country differences
International environments
Trade policies
International Trade
100
For businesses, this process has produced many opportunities. Firms can expand their revenues by selling around the world and/or reduce their costs by producing cheaper in other nations.
What is globalization
100
______________ are the accepted principles of right or wrong governing the conduct of businesspeople, which are not to be violated.
What are business ethics
100
______________ refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country
What is Free trade
100
A ___________ is a tax levied on imports or exports.
What is tariff
100
The foreign exchange market (also known as __________) is a market for converting the currency of one country into that of another country.
What is FOREX
200
globalization has two main facets:
What are the globalization of markets and the globalization of production.
200
The _______________ is a public good that no one owns but anyone can despoil.
What is environment
200
__________ emerged in England when gold and silver were the currency of trade between countries. Its principal assertion was that gold and silver were the mainstays of national wealth and essential to vigorous commerce.
What is Mercantilism
200
A __________ is a government payment to a domestic producer.
What is subsidy
200
An _______________ is simply the rate at which one currency is converted into another.
What is exchange rate
300
The _____was established to maintain order in the international monetary system. It is often seen as the lender of last resort to countries whose economies are in turmoil and currencies are losing value against those of other nations (recent cases are Russia, Argentina, Thailand, Turkey, and Mexico).
What is IMF
300
_________________ is a worldwide organization that monitors and indexes corruption levels among countries.
What is Transparency International
300
a country has an ___________advantage in the production of a product when it is more efficient than any other country in producing it.
What is absolute
300
An import _________ is a direct restriction on the quantity of some goods that may be imported into a country. The restriction is usually enforced by issuing import licenses to a group of individuals or firms.
What is quota
300
The ___________________ system refers to the institutional arrangements that govern exchange rates.
What is international monetary
400
It occurs when a firm exports goods or services to consumers in another country.
What is International Trade
400
____________ is a system of values and norms that are shared among a group of people and that when taken together constitute a design for living.
What is culture
400
the theory of __________ advantage is that potential world production is greater with unrestricted free trade than it is with restricted trade.
What is comparative
400
__________ is variously defined as selling goods in a foreign market at below their costs of production or as selling goods in a foreign market at below their “fair” market value.
What is dumping
400
A ____________ crisis refers to a loss of confidence in the banking system that leads to a run on banks, as individuals and companies withdraw their deposits.
What is banking
500
What event occurs in struggling nations that may negatively influence the enactment of global business in a country? Hint: This is not an uncommon occurrence through out history.
What is war
500
making, buying, and selling goods and services within a country is called international
What is business
500
_____________________occurs when a firm invests directly in facilities to produce or market a product in a foreign country.
What is Foreign direct investment (FDI)
500
_______________ deals with the global rules of trade between nations. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
What is The World Trade Organization (WTO)
500
the actions that managers take to attain the goals of the firm. For most firms, the main goal is to maximize the value of the firm for its owners and its shareholders
What are strategies