6 Written Questions

1. selling the right to a company to use some intangible property (production process, trademark, or brand name) for a fee or royalty.
2. on certain imported products which increases prices.
3. allowing a business the rights to use another company's name or process in a specific way.
4. the difference between the amount of money that comes into a country and the amount that goes out of it.
5. the difference between a country's total exports and total imports
6. when two or more companies agree to share a business project.

5 Multiple Choice Questions

1. the amount of money a country owes to other countries
   1. Tariff Taxes
   2. Foreign debt
   3. Joint Venture
   4. Franchising
2. goods and services sold to other countries
   1. Exports
   2. Licensing
   3. Imports
   4. Quota
3. the making, buying, and selling of goods and service within a country.
   1. Licensing
   2. Domestic Business
   3. International Business
   4. Franchising
4. A limit on the quantity of good that may be imported or exported within a given period to regulate international trade.
   1. Imports
   2. Exports
   3. Licensing
   4. Quota
5. when a country can produce a good or service at a lower cost than other countries.
   1. Comparative Advantage
   2. Balance of Trade
   3. Absolute Advantage
   4. Joint Venture

5 True/False Questions

1. Imports → goods and services sold to other countries

   True        False

2. Embargo Government → the difference between the amount of money that comes into a country and the amount that goes out of it.

   True        False

3. International Business → activities needed for creating, shipping, and selling goods and services across national borders.

   True        False

4. Comparative Advantage → a situation in which a country specializes in the production of a good or service at which it is realtively more effcient.

   True        False

5. Exchange Rate → goods and services sold to other countries

   True        False