WorksheetsCh 3 Business in the Global Economy
Total questions: 15
Worksheet time: 7mins
A company is planning to sell the rights to its brand name for use in other countries. This is an example of a(n)
joint venture.
trade agreement.
franchise.
licensing agreement.
The international organization that settles trade disagreements and enforces free-trade agreements is the
WTO
United Nations
IMF
World Bank
Who provides technical capital and technical help to private businesses in nations with limited resources?
IDA
IFC
IMF
WTO
Which of the following is NOT a franchise business?
McDonald's
Burger King
Wendy's
Garzelli's
The World Bank was created in order to provide loans to help rebuild after
World War I
Vietnam War
World War II
Cold War
When a country's imports exceed its exports, this is a trade
deficit.
exchange.
surplus.
balance.
The value of a country's currency is likely to decline as a result of
lower interest rates
a trade surplus
a favorable balance of payments
higher inflation
Which countries are NOT a part of the North American Free Trade Agreement (NAFTA)?
Canada
Mexico
United States
Panama
The amount a country owes to other countries is called
national debt.
foreign debt.
trade deficit.
balance of payments.
The three key effects on a country’s level of economic development are _________, technology & agricultural dependency
location
customs
literacy level
religion
Franchising is selling the right to use a trademark or brand name for a fee or royalty.
True
False
An informal trade barrier is created by government actions.
True
False
The value of currency in one country compared with the value in another is called the interest rate.
True
False
Without foreign trade, many things you buy would cost more or not be available.
True
False
An economy that is largely involved in agriculture is generally unable to provide its citizens with high quality products.
True
False
