INTERNATIONAL BUSINESS & TRADE QUIZ no.1

The kind of trade that is limited geographically within a country. It involves commercial exchanges that are only done within that country.

• DOMESTIC BUSINESS

• INTERNATIONAL BUSINESS

• GLOBAL DEPENDENCY

International Business is important for it provides a source of raw materials and parts and demand for foreign products.

• TRUE

• FALSE

• NONE OF THE TWO CHOICES

bringing a goods and services from another country to home country.

Selling goods and services from the domestic country to other country.

Exists when items that are consumers need and want are created in other countries.

Engage in any activity for the primary purpose of making a profit.

Describe the basic economic problem.

The study of how people choose to use limited resources to satisfy their unlimited needs and wants

is the relationship between the amount of a good or services that businesses are willing and able to make available and the price.

Relationship between the amount of a good or service that consumers are willing and able to purchase and the price.