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5 Written questions

5 Matching questions

  1. infrastructure
  2. tariffs
  3. economic differences
  4. quotas
  5. foreign licensing
  1. a a countrys physical facilities that support economic activity
  2. b involoves 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
  3. c need to understand population, per capita income, economic growth, rate, currency exchange rate, and stage of economic development
  4. d taxes levied against imports
  5. e limitations on the amount of specific products that may be imported from certain countries during a given time period

5 Multiple choice questions

  1. 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. a measure of the total flow of money into or out of a country
  3. producing products domestically and selling them abroad
  4. international trade that involves the barter of products for products rather than for currency (20% of international commerce)
  5. buying products from overseas that have already been produced, rather than contacting with overseas manufacturers to produce special orders

5 True/False questions

  1. balance of payments deficitmore money flows out of country than in

          

  2. sociocultural differenceneed to understand population, per capita income, economic growth, rate, currency exchange rate, and stage of economic development

          

  3. balance of tradea basic measure of the difference between a nations exports and imports, including both goods and services

          

  4. balance of payments surplusmore money flows into country than out

          

  5. partnershiptaxes levied against imports

          

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