Chapter 5-Final

The United States' prohibition of the importing of Cuban cigars is an example of

An embargo

What is meant by importing?

The purchase of goods and services from a foreign source

Which of the following characteristics relates to a joint venture?

When a company that wants to do business in another country finds a local partner (occasionally, the host nation itself) to share the costs and operation of the business

By requiring products to be sold for not less than what it costs to produce them, the United States is attempting to prohibit

dumping

What term describes restrictions on the amount of a particular currency that may be bought or sold?

exchange controls

The ratio at which one nation's currency can be exchanged for another nation's currency or gold is the

exchange rate

According to Hofstede's cultural dimensions theory, _____ tend to be self-reliant and place a high level of importance on freedom and ambition, while _____ place more value on the team than the individual.

individualists; collectivists

Which of the following refers to the buying, selling, and trading of goods and services across national boundaries?

international business

Miller Beer allows a Canadian firm to use its name, formula, and brands in return for a royalty. This arrangement is known as

licensing

The agreement between Japan's Sony Corporation and the Swedish telecommunication company Ericsson to make mobile phones is an example of a

strategic alliance