NAME

Question types


Start with


Question limit

of 27 available terms

Advertisement Upgrade to remove ads
Print test

5 Written questions

5 Matching questions

  1. foreign outsourcing
  2. economic differences
  3. joint ventures
  4. balance of trade
  5. trade surplus
  1. a a basic measure of the difference between a nations exports and imports, including both goods and services
  2. b contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production
  3. c need to understand population, per capita income, economic growth, rate, currency exchange rate, and stage of economic development
  4. d overage that occurs when the total value of a nations exports is higher than the total value of its imports
  5. e involve two or more companies joining forces- sharing resources, risks, and profits, but not merging companies

5 Multiple choice questions

  1. taxes levied against imports
  2. 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. a measure of the total flow of money into or out of a country
  4. when firms either acquire foreign firms or develop new facilities from the ground up in foreign countries
  5. measure the value of one nations currency relative to the currency of other nations

5 True/False questions

  1. opportunity costsrelates 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. absolute advantagethe benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries

          

  3. balance of payments surplusmore money flows out of country than in

          

  4. comparative advantagethe benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries

          

  5. exportingbuying products from overseas that have already been produced, rather than contacting with overseas manufacturers to produce special orders

          

Create Set