BUS X 100 2 Global Business – Flashcards
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Despite trade restrictions, international business is
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growing
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The United Kingdom sells industrial supplies and materials to many nations around the world. The United Kingdom thus engages in
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exporting
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A limit on the amount of a particular good that may be brought into a country during a given period of time is called a(n)
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import quota.
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When a business has plants located in several foreign countries, it is called a
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multinational company
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Which of the following is not a characteristic of an international direct investment in a "totally owned" facility?
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low financial risk
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The United States buys automobiles from Japan and Germany and petroleum products from many OPEC nations. The United States thus engages in
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importing
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When the U.S. government will not allow meat from another country to be marketed in the United States, it is imposing a(n)
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embargo
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An organization of nations formed to promote the free movement of resources and products among its members and to create common economic policies is called a(n)
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economic community
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Miller Beer allows a Canadian firm to use its name, formula, and brands in return for a royalty. This is known as
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licensing
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An unfavorable balance of trade occurs when
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imports are greater than exports
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The total dollar value of all goods and services produced by all people within the boundaries of a country is called
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gross domestic product
