Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?
Tariff
Embargo
Quota
Deal
2. Multiple Choice
30 seconds
1 pt
___________ is a tax that a government places on certain imported products
Tariff
Embargo
Quota
Deal
3. Multiple Choice
30 seconds
1 pt
Stopping the export and import of a product is known as?
Tariff
Embargo
Quota
Deal
4. Multiple Choice
30 seconds
1 pt
These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free
Free-trade zones
Free-trade agreements
non-tariff alliances
Common markets
5. Multiple Choice
30 seconds
1 pt
__________________ reduces trade barriers and encourages trade between countries.
Free-trade zones
Free-trade agreements
non-tariff alliances
Common markets
6. Multiple Choice
30 seconds
1 pt
Members do away with duties and other trade barriers - they allow companies to invest freely in each member’s country •ex. EU (European Union)
Free-trade zones
Free-trade agreements
non-tariff alliances
Common markets
7. Multiple Choice
30 seconds
1 pt
Purchasing the right to use a company name or business process in a specific way ex. McDonald’s, Burger King, KFC and Pizza Hut • •
Licensing
Joint venture
Franchising
Infrastructure
8. Multiple Choice
30 seconds
1 pt
Sports teams having their logo on memorabilia is considered?
Licensing
Joint venture
Franchising
Infrastructure
9. Multiple Choice
30 seconds
1 pt
An agreement between two or more companies to share a business project - this business is on a limited basis for control
Licensing
Joint venture
Franchising
Infrastructure
10. Multiple Choice
30 seconds
1 pt
A country being able to make a product or service at a lower cost than other countries is considered?
Absolute advantage
Concerning advantage
Comparative advantage
Available advantage
11. Multiple Choice
30 seconds
1 pt
A situation in which a country specializes in the production of a good or service at which it is relatively more efficient?
Absolute advantage
Concerning advantage
Comparative advantage
Available advantage
12. Multiple Choice
30 seconds
1 pt
Buying goods and services from another country is considered?
Exporting
Importing
13. Multiple Choice
30 seconds
1 pt
Selling goods and services to another country is considered?
Exporting
Importing
14. Multiple Choice
30 seconds
1 pt
When your exports are greater than your imports, this exists?
Trade deficit
Trade surplus
15. Multiple Choice
30 seconds
1 pt
When your exports are less than your imports, this exists?
Trade deficit
Trade surplus
16. Multiple Choice
30 seconds
1 pt
A company that would like to build a golf course that could be played year round would need to consider which component of the international business environment?
Geography
Culture
Economy
Infrastructure
17. Multiple Choice
30 seconds
1 pt
A company is worried that about exchange rate would need to consider which component of the international business environment?
Geography
Culture
Economy
Infrastructure
18. Multiple Choice
30 seconds
1 pt
A company is worried that about the norms and customs of a country would need to consider which component of the international business environment?
Geography
Culture
Economy
Infrastructure
19. Multiple Choice
30 seconds
1 pt
A country that lacks ability to logistically transport imports & exports would be concerned with which component of the international business environment?
Geography
Culture
Economy
Infrastructure
20. Multiple Choice
30 seconds
1 pt
A country concerned about lack of skilled workers to complete jobs in emerging careers would have potential business partners concerned with which component?