Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
1.03 POBF
| Question | Answer |
|---|---|
| domestic business | making, buying, and selling of goods and service within a country. |
| international business | foreign or world trade, refers to business activities needed for creating, shipping, and selling goods and services across national borders. |
| absolute advantage | exists when a country can produce a good or service at a lower cost than other countries |
| comparative advantage | a situation in which a country specializes in the production of a good or service at which it is relatively more efficient. |
| imports | items bought from other countries |
| exports | goods and services sold to other countries. |
| foreign debt | the amount of money a country owes to other countries |
| balance of trade | difference between a country’s total exports and total imports |
| favorable balance of trade | If a country exports more than it imports, it has a trade surplus |
| unfavorable balance of trade | If a country imports more than it exports, it has a trade deficit. |
| balance of payments | is the difference between the amount of money that comes into a country and the amount that goes out of it |
| favorable balance of payments | If a country receives more money in a year than it pays out |
| unfavorable balance of payments | If a country sends more money out than it brings in |
| foreign exchange market | where banks buy and sell different currencies. |
| exchange rate | the value of a currency in one country when compared with the value in another |
| embargo | Government bans the import or export of specified goods |
| quota | A limit on the quantity of good that may be imported or exported within a given period to regulate international trade. |
| tariff | Taxes on certain imported products which increases prices |
| common market | Countries that are members freely invest in one another |
| free-trade agreement | Countries that are members remove duties and trade barriers on products traded among them to increase trade between members. |
| free-trade zones | Include selected areas that allow duty-free products to be imported, and then stored, assembled, and/or used in manufacturing. The activities usually occur around a seaport or airport. |
| franchising | allowing a business the rights to use another company’s name or process in a specific way. |
| licensing | selling the right to a company to use some intangible property (production process, trademark, or brand name) for a fee or royalty. |
| joint venture | happens when two or more companies agree to share a business project. |
| international monetary fund | Helps promote economic cooperation and maintain an orderly system of world trade and exchange rates. |
| world bank | Provides economic aid to developing countries to fund building communications systems, transportation networks, and energy plans. |
| world trade organization | Settles trade disputes and enforces free-trade agreements among its members. |
Created by:
jpennington
Popular Business sets