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5 Written questions

5 Matching questions

  1. importing
  2. trade protectionism
  3. central american free trade agreement [CAFTA]
  4. ethnocentricity
  5. exchange rate
  1. a the value of one nations currency relative to the currencies of other countries
  2. b an attitude that one's own culture is superior to all others.
  3. c buying products from another country
  4. d the use of government regulations to limit the import of goods and services
  5. e created a free-trade zone with central american nations; costa rica, dominican republic, el salvador, guatemala, honduras and nicaragua

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 partnership in which two or more companies [ often from different countries ] join to undertake a major project
  3. a long-term partnership between two or more companies established to help each company build competitive market advantages
  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. a 1948 agreement that established an international forum for negotiating mutual reductions in trade restrictions

5 True/False questions

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

          

  2. free tradea complete ban on the import or export of a certain product or stopping all trade with a particular country

          

  3. contract manufacturinga complex form of bartering in which several countries may be involved, each trading goods for goods or services for services

          

  4. embargoa tax imposed on imports

          

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