NAME

Question Types


Start With


Question Limit

of 27 available terms

Advertisement Upgrade to remove ads

5 Written Questions

5 Matching Questions

  1. balance of payments surplus
  2. balance of payments
  3. foreign outsourcing
  4. opportunity costs
  5. absolute advantage
  1. a relates to international trade. the value of the second best choice- the value of the production that a country gives up in order to produce the first product
  2. b a measure of the total flow of money into or out of a country
  3. c more money flows into country than out
  4. d contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production
  5. e when a country can produce more of a goode than other nations, using the same amount of resources

5 Multiple Choice Questions

  1. limitations on the amount of specific products that may be imported from certain countries during a given time period
  2. taxes levied against imports
  3. shortfall that occurs when the total value of a nations imports is higher than the total value of its exports
  4. international trade that involves the barter of products for products rather than for currency (20% of international commerce)
  5. producing products domestically and selling them abroad

5 True/False Questions

  1. strategic alliancean agreement between two or more firms to jointly pursue a specific opportunity without actually merging their businesses. typically involve less formal, less encompassing agreements than partnerships (only beneficial in countries that require local, political, and cultural knowledge as a core of doing business)

          

  2. protectionismnational policies designed to restrict international trade, usually with the goal of protecting domestic business

          

  3. foreign franchisinginvoloves a domestic firm granting a foreign firm the rights to produce and market it products or to use its trademark/ patents rights in a defined geographical area

          

  4. direct investmentnational policies designed to restrict international trade, usually with the goal of protecting domestic business

          

  5. importingproducing products domestically and selling them abroad

          

Create Set