PBM Module 3 Test: Business in the Global Economy

Most business activities occur within a country's own borders.

Without foreign trade, all of the items you buy cost less, because they would not need to be shipped

A nation with a trade surplus is said to have a favorable trade position

When a country has a favorable balance of payments, the value of its currency is usually constant or rising.

A joint venture is an agreement between two or more countries to remove duties and trade barriers on products traded among them.

A franchise is a right to use a company name or business process in a specific way.

The exchange rate is the value of a currency in one country compared with the value in another.

A multinational company is an organization that does business within its country only.

The making, buying and selling of foods and services within a country is called

Goods and services sold to other countries are called

The difference between a country's total exports and total imports is called the

Which of the following scenarios is likely to cause the values of a country's currency to rise

The tax that a government palaces on certain imported products is called an

A limit that a government places on the quantity of a product that may be exported or imported during a given period is called a

Which is NOT a goal of the World Trade Organization?