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WorksheetsPBMF Ch 5 Global Business
Total questions: 20
Worksheet time: 13mins
Which is not a benefit of exporting?
Reduce legal documents
Realize potential new markets
Increase profits
Generate jobs
An absolute advantage exists when a country can produce goods more efficiently than _____.
the previous year
average
with a floating currency
another country
Balance of trade is _____.
A. exports plus imports
B. exports minus imports
C. exports minus tariffs
D. the same as the balance of payments
Most currencies today are _____.
fixed
restricted
floating
not influenced by economic factors
Which of the following is not a trade barrier?
Embargo
Bloc
Tariff
Quota
A group of countries that have reduced or eliminated trade barriers among themselves is a(n) ____.
free-trade zone
free-travel zone
mutual trade area
embargo zone
The ____ for international shipping is more complex compared to domestic shipping.
packaging
logistics
absolute advantage
trade agreement
Which of the following is not a business option to enter a foreign market?
Licensing
Franchising
Comparative trade
Joint venture
The person or company that buys the rights to sell another company’s goods or services in a specific area is a(n) ____. A. franchise B. franchisor C. franchisee D. joint venture partner
franchise
franchisor
franchisee
joint venture partner
Someone who translates a conversation between individuals who do not speak the same language is a(n) ____.
interrogator
interloper
interoffice liaison
interpreter
(a) is the shared beliefs, customs, practice, and social behavior of a particular group or nation.
The buying and selling of goods and services across national borders is ____.
International trade
Domestic trade
Local commerce
Regional exchange
The total amount of money that comes into a country, minus the total amount of money that goes out for a specific period of time is the ____.
Balance of payments
Gross Domestic Product
Net National Income
Trade Surplus
The cost to convert one currency into another is the ____.
Exchange rate
Interest rate
Inflation rate
Tax rate
The body of laws related to the exchange of goods and services for international trade is called (a) .
An embargo that affects only certain goods is a trade (a) .
The North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and (a) .
(a) is having people from different backgrounds, cultures, or demographics coming together in a group.
The process of sending and receiving messages between people of various cultures is ____.
Intercultural communication
Intrapersonal communication
Mass communication
Group communication
A business that operates in more than one country is a ____.
Multinational corporation
Local business
Domestic company
Regional enterprise
