Unit 2 Inter Trade (Vocab Quiz)

What does the term "outsourcing" most closely mean?

• Buying stocks in a foreign company

• Hiring a local manager

• Sending tasks to another company or country

• Merging with a competitor

What is a "joint venture"?

• A merger between governments

• A business fully owned by one company

• A shared business project between two or more companies

• A temporary part-time job

A "tariff" is a type of:

• Business strategy

• Tax on imports

• Investment opportunity

• Communication device

A "subsidy" is:

• A fine imposed on companies

• A type of mobile device

• Money paid by the government to support a business

• A global partner

What is the "balance of trade"?

• The difference between a country's imports and exports

• The rate at which currency is exchanged

• A business cycle stage

• A loan from international banks

Which of the following best defines a "strategic alliance"?

• Selling a product overseas

• A military agreement

• A partnership between companies to achieve long-term goals

• A short-term business loan

The "business cycle" includes stages like:

• Invention, innovation, inflation

• Growth, recession, recovery

• Investment, competition, profit

• Decline, taxes, recovery

The term "exchange rate" refers to:

• The cost of shipping goods

• How one currency compares to another

• The interest rate at local banks

• The time needed for delivery

What does "protectionism" aim to do?

• Open more global markets

• Increase competition

• Support local businesses by limiting imports

• Improve software systems

A "foreign direct investment (FDI)" involves:

• Renting office space abroad

• Buying property or businesses in another country

• Setting exchange rates

• Hiring international freelancers