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5 Written questions

5 Matching questions

  1. world trade organization [WTO]
  2. importing
  3. trade deficit
  4. north american free trade agreement [NAFTA]
  5. free trade
  1. a an unfavorable balance of trade; occurs when the value of a country's imports exceeds that of exports
  2. b buying products from another country
  3. c agreement that created a free-trade area among the united states, canada and mexico
  4. d the international organization that replaced the General Agreement on Tariffs and Trade, and was assigned the duty to mediate trade disputes among nations
  5. e the movements of goods and services among nations without political or economic barriers

5 Multiple choice questions

  1. a limit on the number of products in certain categories that a nation can import
  2. an organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management
  3. a foreign country's production of private-label goods to which a domestic company the attaches its brand name or trademark
  4. a tax imposed on imports
  5. a global strategy in which a firm [ the licensor ] allows a foreign company to produce its product in exchange for fee [a royalty]

5 True/False questions

  1. foreign subsidiarya company owned in a foreign country by another company [ called the parent company ]

          

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

          

  3. ethnocentricityan unfavorable balance of trade; occurs when the value of a country's imports exceeds that of exports

          

  4. embargoa complete ban on the import or export of a certain product or stopping all trade with a particular country

          

  5. general agreement on tariffs and trade [GATT]created a free-trade zone with central american nations; costa rica, dominican republic, el salvador, guatemala, honduras and nicaragua