Global trade
How would you describe the balance of trade in a country that exports more than imports
A country that explains more than it imports has a favorable balance of trade, or a trade surplus.
Developed nation
A country with set systems in place
What's the most fundamental reason for the growth in the world trade?
The most fundamental reason for the growth in the world is the need for businesses to expand their markets.
Which of the following statements about social responsibility is true?
The obligation that a business has to act socially responsible extends beyond investors in the company to include workers, suppliers, consumers, and communities.
Exchange rates
The value of currency trade between two countries
Counter trade
Trading goods or services for other goods or services
Corporate philanthropy
Corporate philanthropy is a form of social responsibility. There are no laws governing when and how a company ask to fulfill its social responsibilities.
Licensing
Is the legal process where a business who owns the license called the licensor enters in agreement where another business the licensee can use to licensors processes in manufacturing trademarks patents and other proprietary knowledge
Which statement best describes a code Ethics?
May be influential in determining a persons decision making behavior. A code of ethics provides employees with the knowledge of what their firm expects in terms of the responsibilities and behavior toward fellow employees, customers, and suppliers.
NAFTA
North American Free Trade Agreement
Italy produces more than 5,000,000,000 gallons of water on each year, whereas the US produces about 700,000,000 gallons. Italy can be said to have an absolute advantage in the production of wine.
Absolute advantage
Responsibility to customers
Clean and safe work environment
Which of the following statements about ethics training is true?
Ethics training is formal training to develop awareness of inappropriate behavior into practice appropriate response
A company that has a global vision
Global vision recognizes and reacts to international business opportunities
Balance of payments
Imports and exports long-term investments loans to and from other countries gifts an aid military expenditures and money transfers from foreign banks are all part of the balance of payments
Franchising
Is a form of licensing that continues to grow rapidly franchise is popular in fast food restaurants were licensee pizza of franchise to open one of its stores such as Wendy's or a KFC franchise are becoming increasingly popular in foreign markets
global vision
Recognizing international business opportunity
Exporting
Selling goods to another country
Responsibility to investors
Social investing
In three sentences explain social investing
Social investing is the practice of limiting investments to securities of companies that behave and acceptance with investors believes about ethical and social responsibility.
Operational
Structural unemployment is caused by a mismatch between available jobs and the skills of the available workers
Country A is a large producer of raw steel. Steel mills in country and begin to close as more and more businesses import cheaper steal from country be to protect its steel industry, country a can impose tariffs on the steel imports from country B
Tariffs
CPI (Consumer Price Index)
The CPI measures the price of a market basket of goods and services purchased by a typical urban consumers