Unit 3-International Business

Front

What is the difference between domestic business and international business?

Back

Domestic business is conducted within a country, while international business is conducted around the world

Front

Exchange rate

Back

The value of currency in one country as compared to the value of currency in another

Front

Which factor does NOT affect international business? Geography, Economics, Culture, Sports

Back

Sports

Front

What is a tariff?

Back

A tax that a government places on certain imported products

Front

What is the balance of payments?

Back

The difference between the amount of money that flows into a country and the amount that goes out

Front

Comparative advantage

Back

When a country can produce/export an item relatively better than other countries

Front

Licensing

Back

Selling the right to use some type of intangible property

Front

Purchasing the right to use a company name or business process in a specific way   ex.  McDonald’s, Burger King, KFC and Pizza Hut

Back

Franchising

Front

Sports teams having their logo on memorabilia is considered?

Back

Licensing

Front

Buying goods and services from another country is considered?

Back

Importing