BUS 101- Chapter 3

______ _____ is nonverbal , usually unconscious communication through gestures, posture and facial expression

Body language

____ forces include religion, manners, and customs,values and attitudes,language,and personal communication

Cultural

A(n) ____ is a complete ban on the import or export of a certain product, or the stopping of all trade with a particular country.

Embargo

The ___ Union was established in 1958 to promote trade among its members, until 1993, each nations functions as a separate market , but at the time member officially unified into one of the largest single world markets.

European

This is a trade agreement ,originally signed by 23 nations in 1947,that provides a forum for tariff negotiations and a place where international trade problems could be discussed and resolved

GATT ( general agreement and tariffs and trade)

originally signed by 23 nations in 1947, provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved

General Agreement on tariffs and trade

What is part of the infrastructure of a country and thus supports its economic activities ?

Hospitals,railroads and schools

The suspicion of dumping often leads to ______ or ___ , in order to restrict the number of units of a particular product that can be imported into a country

Quotas and tariffs

Define Maquiladoras

U.S companies that take advantage of of Mexico's low labor cost and proximity to the U.S to set up production facilities

an international organization dealing with the rules of trade between nations, was created in 1995 by the Uruguay Round

World Trade Organization (WTO

the organization established by the Uruguay round of the GATT,whose purpose is to mediate trade disputes among nations is called

World trade organizations (WTO)

in a multinational strategy, which of the following are customized according to cultural, technological, regional, and national differences

distribution, promotion, and products

the act of a country or business selling products at less than what it costs to produce them is a referred to as

dumping

What is taken into consideration when determines a country's balance of payments?

money spent by tourist, balance of trade,foreign investments and foreign aid

a trade ____ is an economic measure of a positive balance of trade , where a country's exports exceeds its imports

surplus

governments may impose which of the following in response to political events and disagreements

tariffs and embargos

The North America Free trade agreement (NAFTA) went into effect in 1994 and merged which three countries into one free trade market

the US, Canada and mexico

what are the functions of the world trade organizations ?

to monitor national trade policies,to provide technical aid for developing countries, and to mediate trade disputes among nations

Regional _______ like NAFTA and the EU promote trade among member nations by eliminating trade restrictions

trade agreements