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Chapter three-
| Question | Answer |
|---|---|
| What is Domestic business? | the making, buying, and selling of goods and services within a country. |
| What is international business? | business activities needed for creating, shipping, and selling goods and services. |
| What are imports? | items bought from other countries. |
| What are exports? | Goods and services sold to other countries. |
| What is the balance of trade? | It's the difference between a country's total exports and total imports. |
| The balance of payments is...? | The difference between the amount of money that comes into a country and the amount that goes out of it. |
| What is the exchange rate? | The value of a currency in one country compared with the value in another. |
| What is a nation's infrastructure? | A nation's transportation, communication, and utility system. |
| what are trade barriers? | Restrictions to free trade. |
| What is a quota? | A set limit on the quantity of a product that may be imported or exported within a given period. |
| What is a tariff? | A tax that a government places on certain imported products. |
| What is an embargo? | When the government stops an export or import of a product completely. |
| What is a Multinational Comapany? | an organization that does business in several countries. |
| What is a Joint Venture? | An agreement between two or more companies to share a business project. |
Created by:
stephhansen
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