Modified Quiz: Business in a Global Economy

Business activity done just in New York or in the U.S. only is

• domestic trade

• international trade

If we did not have foreign trade,

• we would not be able to live

• some things would cost a lot more

• we'd all be poor

The U.S. exports

• entertainment and news

• coffee

• french perfume

What do you call a tax on goods?

• Quota

• Tariff

• Time-Out

With most nations, the United States has a trade ____

• deficit

• surplus

When 2 (two) companies agree to share a business project, it is called

• foreign trade

• joint venture

The Value of Currency of 1 country compared to the Value of currency in another country is

• exchange rate

• balance of trade

Which country is in the European Union?

• Canada

• Mexico

• Spain

Countries must

• rely on imports for all 100% of its products

• trade with every other country

• decide the best use of their resources & what to expect

What helps trade with another country?

• we all agree on a common money or currency

• everyone speaking different languages and not understanding each other

• countries with a dictator and bad economy