Chapter 13 Quiz

• By understanding your ______________, you can better adapt to the new things they bring to your industry and keep up demand for your business.​

Businesses that sell a similar product or service are your ____________

Businesses that sell a different product or service, but that still fill the same customer need or want, are your ________

_________ is the percentage of a target market population that is buying a particular product or service from your business.

The formula for market share is:

• The ________ economy is the flow of goods and services around the world.​

• __________ is a business activity in which goods and services leave a country to be sold to foreign consumers.​

• ___________________ is a business activity in which goods and services enter a country from foreign suppliers.​

A _____________ is a governmental restriction on international trade.

• Fair trade is a policy encouraged by private organizations to ensure that small producers in developing nations earn sufficient profit on their exported goods to improve their working, environmental, and social conditions.​