Exam 4: Business in a Global Economy

The president of the nation of Gamma asks you if the benefits of international trade are greater than the costs.You should answer that it depends on one's perspective.

Most countries operate under a(n)________ exchange rate system.

Since consumers simply want to purchase the best product at the lowest prices,companies need not worry about aesthetics when working internationally.

The nation of South Pi is experiencing rapid increases in business activity,but still lacks sufficient infrastructure and modern communication systems.Which challenge to conducting international business is the PRIMARY one faced by exporters to Pi?

What are the advantages and disadvantages of joint ventures?

What is the opposite of nonconvertible currency?

The United States is currently the world's largest single market.

As a result of their influence on the quantity,variety,and quality of products,trade barriers ________ domestic consumers.

If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta,Epsilon has imposed a(n)________.

An engineering team has members from Egypt,Malaysia,Australia,Argentina,and the U.S.They communicate by email and videoconferencing.The work of this globalized team is made easier because of ________.

In order to enter the Spanish market,a Moroccan firm establishes a store that is entirely owned by the Moroccan firm.This is an example of a(n)________.

Different types of body language mean the same things throughout the world.

An American company enters the Mexican market by sharing ownership of a subsidiary firm with a Mexican company.This is an example of a(n)________.

Exchange rates are the rates at which currencies are converted into another country's currency.

If the value of the nation of Nu's exports is greater than the value of its imports,Nu has a trade ________.

The purchasing of property and businesses in foreign nations is called globalization of markets.

The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle.Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa.Baa-Baa decides to specialize in sheep raising,to sell wool to Snuggle,and to buy blankets from Snuggle.Snuggle decides to specialize in blanket weaving,to sell blankets to Baa-Baa,and to buy wool from Baa-Baa.This international trade illustrates ________ advantage.

If the U.S.has the ability to produce more steel than any other country in the world,the U.S.has a(n)________ advantage in steel production.

An example of globalization of ________ is Toyota opening a factory in Kentucky.

An American executive who studies Italian before making a sales trip to Rome is showing consideration for ________.