
Ch.5 Exploring Global Business Vocab
Flashcard
•
Business
•
8th - 12th Grade
•
Practice Problem
•
Hard
Wayground Content
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30 questions
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1.
FLASHCARD QUESTION
Front
Shared beliefs, customs, practices, and social behavior of a group or nation
Back
Culture
2.
FLASHCARD QUESTION
Front
All business activities in making, buying, and selling products within a nation's borders.
Back
domestic business
3.
FLASHCARD QUESTION
Front
Buying and selling goods/services across borders
Back
international trade
4.
FLASHCARD QUESTION
Front
Goods/services produced in a country and sold abroad
Back
exports
5.
FLASHCARD QUESTION
Front
Goods, services, and capital brought into a country from outside its borders
Back
imports
6.
FLASHCARD QUESTION
Front
Exists when a country produces goods more efficiently and at a lower cost than another.
Back
absolute advantage
7.
FLASHCARD QUESTION
Front
Exists when a country specializes in producing a product efficiently
Back
comparative advantage
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