Exam 9: Business in a Global Environment

Policies that restrict free trade among nations are called _____.

McDonald's, Burger King, Pizza Hut, and KFC restaurants, all of which operate in many different countries, are characterized as _____ corporations.

According to the principle of _____, a country that decides to specialize in the production of a particular product must sacrifice the production of another product.

If the U.S.dollar goes down relative to a foreign currency, foreign buyers pay more for American goods and services.

Scenario-Based Yokahama Sports Equipment Ltd.is a successful manufacturer and distributor of sports equipment in the Far East, Australia, and Europe.Top management sees attractive opportunities in the U.S.market because of the stable economy and government.In addition, of course, Americans have disposable income to spend and are willing to buy imported goods.Yokahama executives realize, however, that entering the U.S.market can be difficult and that they'll need a well-planned strategy. -If Australia were to put a monthly limit on some Yokahama imports, it would be using a trade practice called a quota.

In many countries, American firms may be at a disadvantage in communicating with the general public because only ____ speak English.

With a troubled economy and the prospect of devastating economic times ahead, the Central European country of Westphalia should look to _____ for a major loan.

If a country buys more goods and services than it sells over a specified period of time, it has a _____.

The largest factors in a country's balance of payments consist of revenues from tourism and welfare benefits paid to citizens and immigrants.

The difference between a country's total outflows and inflows of money over a period of time is its _____.

Compare and contrast absolute advantage and comparative advantage.

Chic managers must appreciate the system of shared beliefs, values, customs, and behaviors-called "norms" or the "national normalcy scheme"-of each country in which they want to do business.

Japan's production and exporting expertise lies in the areas of electronics and automobiles.

_____ has become a popular location for software development and customer-call centers for American companies.

When it sets controls to protect domestic industries by reducing foreign competition, the federal government is _____.

According to some experts, American businesspeople are at a competitive disadvantage when they're prohibited from _____ foreign officials or businesspeople.

Describe the common methods that nations use to control trade across their borders.

What role do balance of trade, trade surplus, and trade deficit play in a nation's economy?

Should dumping become an issue, Yokahama might turn to the WTO for resolution of the dispute.

A joint venture is a form of strategic alliance (an agreement between two companies to pool resources in order to achieve business goals that benefit both partners).