BM Final

International Business typically means business activities that occur between two or more countries.

• True

• False

NAFTA stands for North America Free Trade Agreement.

• True

• False

NAFTA has how many members currently?

• 25

• 28

• 3

• 80

The country in which the business has its headquarters is referred to as the...

• host country

• home country

• subsidiary

• parent country

When a country can produce goods more efficiently and at a lower cost than another country is called _____.

• Export

• Import

• Absolute Advantage

• Comparative Advantage

Things nature provides that we use for our wants/needs

• Capital Resource

• Reference Resource

• Natural Resource

• Human Resource

The point on a Supply and Demand graph where the perfect amount of supply is given for the perfect amount of demand.

Which of the following is an example of capital resource

• Tools and Equipment

• A business

• Ideas

• Currency

The three trade barriers are

Goods that are used to make other goods and/or to provide services

• Capital Resource

• Natural Resource

• Human Resource

• Reference Resource