NAME: ________________________

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5 Written Questions

5 Matching Questions

  1. free trade
  2. embargo
  3. trade deficit
  4. trade protectionism
  5. joint venture
  1. a an unfavorable balance of trade; occurs when the value of a country's imports exceeds that of exports
  2. b the use of government regulations to limit the import of goods and services
  3. c a complete ban on the import or export of a certain product or stopping all trade with a particular country
  4. d a partnership in which two or more companies [ often from different countries ] join to undertake a major project
  5. e the movements of goods and services among nations without political or economic barriers

5 Multiple Choice Questions

  1. theory that states that a country should sell to other countries those products that it produces most effectively and efficiently, and buy from other countries those products that it cannot produce as effectively or efficiently
  2. a limit on the number of products in certain categories that a nation can import
  3. a foreign country's production of private-label goods to which a domestic company the attaches its brand name or trademark
  4. a regional group of countries that have a common external tariff, no internal tariffs, and a coordination of laws to facilitate exchange; also called a trading bloc. ex. is the european union
  5. lowering the value of a nations currency relative to other currencies

5 True/False Questions

  1. strategic alliancean unfavorable balance of trade; occurs when the value of a country's imports exceeds that of exports

          

  2. importingbuying products from another country

          

  3. balance of paymentthe total value of nations exports compared to its imports measured over a particular period

          

  4. exchange ratethe value of one nations currency relative to the currencies of other countries

          

  5. counter-tradinga complex form of bartering in which several countries may be involved, each trading goods for goods or services for services

          

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