← Week 5 Test Test
5 Written Questions
5 Matching Questions
- Other Countries influence on Cultural Imperialism
- Balance of Payments
- Trade Deficit
- a The overall flow of money into or out of a country.
- b Salsa dancing, Pokeman, Soccer, Ultra-lightweight cell phones, Import Beers, U2
- c Occurs when imports exceed exports.
- d Social science that analyzes the choices people and governments make in allocating scarce resources.
- e A market situation in which relatively few sellers compete and high start-up costs form barriers to keep out new competition.
5 Multiple Choice Questions
- These limit the amount of a products that can be imported over a specified time period. These also prevent dumping.
- The law of supply states that the higher the price, the larger the quantity supplied. The quantities the sellers will offer for sale, regardless of demand.
- The study of small economic units such as individual consumers, families, and businesses.
- Selling a product abroad at a very low price.
- English is commonly known as the Language of Business, but companies that are bilingual enjoy a competitive advantage
5 True/False Questions
Demand → The willingness and ability of buyers to purchase goods and services at different prices.
Supply → The amount of goods and services for sale at different prices.
Balance of Payment Surplus → More money into the country than out.
Metric System → Taxes, surcharges, or duties on foreign products (imported goods).
Exchange Rate → Another form of Administrative Trade Restriction. Imposed through central banks or government agencies to regulate the buying and selling of currency to shape foreign exchange in accordance with national policy.