Marketing Int'l Trade

"Balance of Trade" is defined as:

• Using quotas to balance amount of business between countries

• Using tariffs to eliminate trade barriers

• Difference between imports and exports

• Having an embargo on a country's products

"Imports" defined as:

• Goods and services sold to other countries

• German automobiles

• Getting the best deals from other countries

• Goods and services purchased from other countries.

Benefits of International Trade include all of the following except:

• More purchasing options

• Being able to use quotas with other countries

• Lower prices

• Larger profits

A trade deficit occurs when a nation:

• imports more than it exports

• exports more than it imports

• Only does exports

• If trading, deficits cannot occur

Trade barriers include all except:

• Licensing

• Tarriffs

• Quotas

• Embargo

The opposite of FREE TRADE is:

• Democracy

• Protectionism

• Communism

• Socialism

Important Trade Agreements and Alliances include all EXCEPT:

• World Trade Organization

• Euopean Union

• Wall Street

• North American Free Trade Agreement

Licensing a company or licensee in another country includes all EXCEPT:

• Trademark

• Patent

• Facilities

• Company Name

The EFFECT of a contracted manufacturing company selling knockoffs.

• Loss of revenue on the authentic items

• They become profitable

• Customers often enjoy discounted pricing

• More authentic product can be sold

PEST has international impacts. Economic factors in the global environment include all EXCEPT:

• Labor Force

• Taxes

• Religious Observances

• Standard of Living