Satisfying Needs & Wants Economic Choices International Business Basics The Global Marketplace International Business Organization
100
What are things that are required in order to live?
Needs
100
What is not having enough resources to satisfy
Scarcity
100
What exists when a country can produce a good or service at a lower cost than other countries?
Absolute Advantage
100
What is a factor that supports international trade in industrialized countries, including a nation's transportation, communications, and utility systems.
Infrastructure
100
What is a company that does business in several countries?
Multinational Company
200
What are activities provided for the satisfaction of others?
Services
200
What is giving up something to have something else?
Trade off
200
What are items brought from other countries?
Import
200
What is a tax that a government places on certain imported products.
Tariff
200
What is the right to use a company name or business process in a specific way?
Franchise
300
What are things available to be used to produce goods and services?
Economic Resources
300
What is the value of the next-best alternative that you were not able to choose?
Opportunity Cost
300
What the difference between a country's total exports and total imports?
Balance of Trade
300
What is the stopping of export or import of a product by the government?
Embargo
300
What is an agreement between two or more companies to share a business project?
Joint Venture
400
What are things that add comfort and pleasure to your life?
Wants
400
What is the process of choosing which needs and wants will be satisfied?
Economic Decision-making
400
What are goods and services sold to other countries?
Exports
400
What is the regulations that government set on the quantity of product that may be imported or exported?
Quotas
400
What is sending work from one company to another company or to another country?
Outsourcing
500
What are things that you can see and touch?
Goods
500
What is the mismatch of unlimited wants and needs and limited economic resources?
The basic Economic Problem
500
What is a treaty between two or more nations?
Trade Agreement
500
What is a selected area where products can be imported duty-free and then stored, assembled, and/or used in manufacturing?
Free Trade Zone
500
What resource are people?
Human Resources






Chapter 1&3

Press F11 for full screen mode



Limited time offer: Membership 25% off


Clone | Edit | Download / Play Offline