Question 1

What is the most fundamental reason for the growth in world trade?

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Question 2

How does an infrastructure influence a country's economic development?

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Question 3

What other country besides Costa Rica, the Dominican Republic, El Salvador, Guatemala, Nicaragua, and Honduras signed the Central America Free Trade Agreement (CAFTA)?

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Question 4

There are certain types of wood that are only available from trees grown in the Brazilian rain forest.What kind of advantage does this give Brazil over all other nations who might want to import these exotic woods?

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Question 5

What term has the opposite meaning from protectionism?

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Question 6

What do you call companies that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located?

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Question 7

Briefly explain how an exchange of merchandise can occur without involving cash or any other form of financial consideration?

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Question 8

What happens when a country lowers the value of its currency relative to other countries?

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Question 9

There are arguments for and against the use of tariffs.What are the most likely reasons why a cattle-producing country like Argentina might have a tariff on the importation of beef?

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Question 10

What new trade organization was created by the Uruguay Round to replace the old General Agreement on Tariffs and Trade (GATT)?

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Question 11

Companies can use several methods to participate in the global marketplace.To which of the methods is franchising is most closely related?

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Question 12

List the two international financial organizations that are instrumental in fostering global trade.

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Question 13

In order to show a commercial on South Korean television, a company like Gillette must film the commercial using South Korean actors.What political consideration is most likely responsible for this legal requirement?

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Question 14

The United States prohibits the importation of 43 styles of automatic rifles.This is an example of which of the nontariff barriers to trade?

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Question 15

_____ are corporations that move resources, goods, services, and skills across national boundaries without regard to the country in which their headquarters are located.

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Quiz 3: Competing in the Global Marketplace