Intro To Business Ch3 II Question Preview (ID: 21444)


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Which of the following is an example of a global strategy?
a) Pizza Hut putting squid on pizzas in Japan
b) Coca-Cola keeping their recipe the same across countries
c) Refraining from showing female models in underwear ads in Muslim countries
d) All are examples

An agreement between two companies to share a business project is called.
a) licensing
b) franchising
c) proprietorship
d) joint venture

This group helps maintain an orderly system of world exchange rates.
a) International Monetary Fund
b) World Trade Organization
c) World Bank
d) European Union

Items bought from other countries are _______.
a) Imports
b) Exports
c) quotas
d) tariffs

A tax that a gov't places on certain imported products.
a) Tariffs
b) quotas
c) embargoes
d) interest trates

Occurs when a country sells more than it buys.
a) Trade Surplus
b) Trade Deficit
c) Debt
d) Trade Neutrality

A limit on the quantity of a product that may be imported or exported.
a) quota
b) barrrier
c) absolute advantage
d) embargo

Exists when a country is the only one that can produce something
a) absolute advantage
b) limited advantage
c) trade deficit
d) imports

The cost of using someone else's money is ______.
a) interest rate
b) tariff
c) quota
d) surplus

Completely prohibiting the import or export of a product.
a) embargo
b) tariff
c) comparative advantage
d) absolute advantage

Items sold to other countries.
a) exports
b) imports
c) tariff
d) embargo

Exists when a country specializes in the production of a good or service at which it is relatively more efficient.
a) Comparative Advantage
b) Absolute Advantage
c) False Advantage
d) Negative Advantage

Occurs when a country buys more than it sells.
a) Trade Deficit
b) Trade Surplus
c) Taxes
d) Benefits

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