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5 Written questions

5 Matching questions

  1. trade deficit
  2. balance of trade
  3. foreign franchising
  4. balance of payments surplus
  5. exporting
  1. a a basic measure of the difference between a nations exports and imports, including both goods and services
  2. b producing products domestically and selling them abroad
  3. c shortfall that occurs when the total value of a nations imports is higher than the total value of its exports
  4. d more money flows into country than out
  5. e a specialized type of foreign licensing in which a firm expands by offering businesses in other countries the right to produce and market its products according to specific operating requirement ( a complete package of how to do business)

5 Multiple choice questions

  1. a measure of the total flow of money into or out of a country
  2. contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production
  3. an 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)
  4. a formal, typically long term agreement between two or more firms to jointly pursue a specific opportunity without actually merging their businesses
  5. need to understand population, per capita income, economic growth, rate, currency exchange rate, and stage of economic development

5 True/False questions

  1. countertradeinternational trade that involves the barter of products for products rather than for currency (20% of international commerce)

          

  2. voluntary export restraints (VERs)limitations on the amount of specific products that one nation will export to another nation

          

  3. infrastructurea countrys physical facilities that support economic activity

          

  4. tariffslimitations on the amount of specific products that may be imported from certain countries during a given time period

          

  5. sociocultural differencedifference among countries/cultures in language, attitudes, and values

          

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