Review of Chapter 9 and 12

___typically means business activities that occur between two countries.

• International Business
• Home Business
• We do not do business with other countries.

Which country is the leading exporter of merchandise?

• Japan
• China
• US
• New Jersey

WTO is an international organization that creates and enforces the rules governing among countries.

• True
• False

NAFTA includes the following countries:  USA, Canada, England

• True
• False

____is selling its products or services to buyers in another country.

• Imports
• Exports
• Star Wars

____is buying the goods or services made in a foreign country.

• Tim 
• Exports
• Imports

Under _____, firms agree to cooperate on certain aspects of business while remaining competitors to other aspects.

• Rebel Alliance
• strategic alliance
• Imperial Guard

____are taxes on foreign goods

• Tariff
• Plain old taxes
• Mr. Howard's money

US is considered a low-context culture (people communicate directly)

• True
• False
• I want to work at Subway

___states that to gain a trade advantage, a country should specialize in products or services that it can provide more efficiently than other countries.

• The Law of Supply and Demand
• Comparative Advantage Theory
• The Law of Thermodynamics