Intro to Business

When sales of cheese in the United States began to stagnate, the U.S. dairy industry looked for a quick and easy method to reach global markets. From your understanding of how companies participate in the global marketplace, you should know that the dairy industry selected:

Exporting

A _____ is a form of trading arrangement in which part or all of the payment for purchased goods or services is in the form of other goods and services.

Countertrade

Pierre Cardin gives technical advice on textile manufacturing to China and in exchange receives silk and cashmere. This is an example of a(n):

Countertrade

Botswana produces diamonds, copper, nickel, soda ash, meat, and textiles, which it sells to the members of the European Union. To Botswana, the diamonds, copper, nickel, soda ash, meat, and textiles it produces are examples of:

Export

Jamaica has 35 airports, 18,700 kilometers of paved and unpaved road and a total of 272 kilometers of railroad track. This is a partial description of the nation's

Infrastructure

An enterprise in which two or more firms or investors (including governments) share ownership of a business and its property rights is called a(n):

Joint Venture

Shell Oil Company used Intertek Caleb Brett, an Australian research laboratory, to provide all analytical services needed to support one of its full scale refinery. With this _____, Shell replaced domestic employees at the site of the refinery with employees from the Australian firm.

Outsourcing

Japan bans importation of rice to protect its domestic rice industry. This ban is an example of:

Protectionism

The signing of the Central America Free Trade Agreement by the United States will more than likely not result in a major increase of U.S. exports.

True

The original purpose of the _____ was to help build infrastructure in developing countries and to help relief the debt burden of these countries.

World Bank