Intro to Business Chapter 3

Front

A(n) ___ is a market in which members do away with duties and other trade barriers.

Back

common market

Front

The accepted behaviors, customs, and values of a society are known as its ____.

Back

culture

Front

Countries with few natural resources must depend on ____.

Back

imports

Front

A(n) ____ is a limit on the quantity of a product that may be imported or exported within a given period.

Back

quota

Front

____ are restrictions to free trade.

Back

Trade barriers

Front

A nation's transportation, communication, and utility systems is known as ____.

Back

infrastructure

Front

Tariffs ___ the price for imported products.

Back

increase

Front

A(n) ____ is a tax that a government places on certain imported products.

Back

tariff

Front

A ___ is a selected area where products can be imported duty-free and then stored, assembled, and/or used in manufacturing.

Back

free trade zone

Front

A country with more developed infrastructure is _____ equipped for international business than a country with less developed infrastructure.

Back

better