9th Grade.Intro To Marketing.Chapter 4.

Absolute

A country's ability to produce a product at a lower cost than any other nation gives the country what kind of advantage?

Infrastructure

A country's what includes its roads, sewage system, and telephone service?

False

A nation experiences a trade surplus when it imports more than it exports.

True

A nation's balance of trade is the difference in value between its imports and exports

Free trade

According to text, protectionism is the opposite of what?

U.S. Treasury Department

All imports that enter the United States are monitored by the customs division of what?

False

An embargo is a limit on the number or monetary value of a product that can be imported.

Embargo

Bans products from specific countries

WTO

Coalition of nations that makes rules governing international trade

Foreign exchange rate

One economic factor relevant to starting a business in another country

Balance of trade

Difference in value between exports and imports

International trade

Exchange of goods and services among nations

True

GATT was an international agreement to open the trade markets and promote global free trade

Customization

Global marketing strategies include globalization, adaptations, and what?

Marketing

Globalization is mass what on a global scale?

Tariff

Higher import tax

Embargo

In 1989, the U.S. placed a ban on Chilean grapes due to poisoned fruit. What is another term for this ban?

Joint venture

In some countries, foreign investors cannot own 100 percent of a business. So, a foreign business must find a local partner to set up a what?

False

International trade and foreign investments generate about two thirds of the profits of U.S. businesses

Quota

Limits amount or dollar value

Quota

Limits either the quantity or the monetary value of an imported product

Proprietary information

Major trade benefit of contract manufacturing

Foreign exchange rate

Price of one country's currency if purchased with another country's currency is known as the what?

Imports

Purchasing goods from a foreign country

Protectionism

Restrict imports in order to protect domestic industries

Trade deficit

The United States imports most apparel from many Asian countries. As a result, the United States has a large what with China?

Quotas

The three main types of trade barriers are tariffs, embargoes, and what?

Embargo

Total ban on specific goods coming into and leaving a country

WTO, NAFTA, EU

Trade alliance that establishes guidelines for international trade

Licensing

Use of a trademark, patent, special formula, company name for a fee