| A | B |
|---|
| Quotas, Tarriff, and Embargo are examples of | Trade Barriers |
| Other names for International Business | Global Business, International Trade, Foreign Trade |
| What a country does best depends upon its ____. | Specialization |
| Three types of specialization | Financial, Human Resources, Natural Resources |
| Three major trade alliances today are __? | NAFTA, EU, and ASEAN |
| A country is often influenced in what is specializes in producing by it ___. | Natural Resources |
| Other types of trade other than goods and services are (five). | Investments, Human resources, Tourism, Military Aid, Loans |
| The balance of trade is affected by what factor. | exchange rate |
| Explain the balance of trade when the U.S. has a weak currency. | The U.S. exports more than it imports giving us a favorable balance of trade (trade surplus) |
| Explain the balance of trade when the U.S. has a strong currency. | U.S. has more imports than exports creating a negative balance of trade (trade deficit) |
| Exchange rate facts are: | Changes daily, depends on how many countries want to buy our (U.S.) products, we could have a strong exchange rate with one country and a weak exchange rate with a differenct country. |
| When the U.S. dollar can purchase more items, it is referred to as a __ currency. | Strong Currency |
| When the U.S. dollor can purchase very few items "things are more expensive" | Weak Currency |
| A business provides goods or services in one country. | Domestic Business |
| A country exports and imports goods and services for what one reason? | to statisfy the wants and needs of their citizens'. |
| Global competition has two opposing points of view, which are ___ and __. | Free trade, Protectionism |
| Wal-Mart committment in the 80's to back the "Made in the U.S." brand is an example of ___. | Protectionism |
| A benefit to consumers that offers variety on price and quality | Free Trade |
| This type of competition helps with raising the standard of living. | Free Trade |
| The oldest trade alliance formed to promote free trade amont the members | European Union |
