International Business MGT316

Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?

• Tariff
• Embargo
• Quota
• Deal

___________ is a tax that a government places on certain imported products

• Tariff
• Embargo 
• Quota
• Deal

These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free

• Free-trade zones
• Free-trade agreements
• non-tariff alliances
• Common markets

__________________ reduces trade barriers and encourages trade between countries.

• Free-trade zones
• Free-trade agreements
• non-tariff alliances
• Common markets

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

• Licensing
• Joint venture
• Franchising
• Infrastructure

Members do away with duties and other trade barriers - they allow companies to invest freely in each member’s country •ex.  EU (European Union)

• Free-trade zones
• Free-trade agreements
• non-tariff alliances
• Common markets

Sports teams having their logo on memorabilia is considered?

• Licensing
• Joint venture
• Franchising
• Infrastructure

A country being able to make a product or service at a lower cost than other countries is considered?

• Absolute advantage
• Concerning advantage
• Comparative advantage
• Available advantage

A situation in which a country specializes in the production of a good or service at which it is relatively more efficient?

• Absolute advantage
• Concerning advantage
• Comparative advantage
• Available advantage

Buying goods and services from another country is considered?

• Exporting
• Importing