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- 1. Multiple ChoiceHow is a tariff best described?A tax on importsA violation of human rightsComparative AdvantageContributing to a favorable balance of trade
- 2. Multiple ChoiceA nation may put a limit on the amount of foreign goods imported by placing a _____ on these goods.ExportQuotaDeficitTrade Surplus
- 3. Multiple ChoiceThe ability of a country to produce a product at a lower cost than another country is called...Free tradeComparative AdvantageBalance of tradeImport quota
- 4. Multiple ChoiceNAFTA was made among...The U.S., Canada, and MexicoEuropean CountriesDeveloping CountriesThe U.S., Russia, and China
- 5. Multiple ChoiceWhy do some countries have trade barriers?To encourage tradeTo do away with quotasTo become communistTo protect their economies
- 6. Multiple ChoiceAn important force that is driving globalization are multinationals, which are...UN peacekeeping forcesLarge firms that do business in many countriesOrganizations that promote conservationMade up of business leaders from developing countries
- 7. Multiple ChoiceThe set of beliefs, goals, and practices that a group of people share is known as:behaviorinterdependenceculturediffusion
- 8. Multiple ChoiceCulture is spread by...Movement of peopleTV and InternetWar and conquestAll are correct
- 9. Multiple ChoiceGoods or services that a country sells to other nationsDutyTariffExportImport
- 10. Multiple ChoiceGoods or services that a country buys from other nations.DutyTariffExportImport
- 11. Multiple ChoiceWhat is logistics?Movement of goods from supplier to customerMovement of goods from customers to suppliersacquisition of goods
- 12. Multiple ChoiceWhat is a franchise?Where a business sells the rights to their brandWhere you have full controlWhere you keep all the profits
- 13. Multiple ChoiceWhen two or more companies agree to share a business project and share the profits, they are operating a _____.franchisejoint venture
- 14. Multiple ChoiceWhat is an official ban on trade or other commercial activity with a particular country?TariffProduct standardEmbargoQuota
- 15. Multiple ChoiceFree trade meansthe countries use the same currencyNo trade barriersthere is a quota on some goodstrade is quick and easy
- Answer choicesTagsAnswer choicesTags