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ENT II Unit 4

Arkansas Entrepreneurship II Unit 4

QuestionAnswer
The set of customs, beliefs, and social attitudes that characterize a particular group of people Culture
Products and services that are produced in one country and sent to another to be sold Exports
Products and services that are brought in from another country to be sold Imports
Increasing market share for a product or service within a given market in a given area Marketing expansion
The business cycle determined by changes in the type of competition faced by a product; the four stages are introduction, growth, maturity, and decline Product life cycle
A limited on the amount of a product that can be imported into a country over a particular period of time Quota
A tax on imports Tariff
Methods for keeping foreign businesses from competing with domestic producers Trade barriers
Created by: wellsel
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