Question 1

How would you describe the balance of trade in a country that exports more than it imports?

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Question 2

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

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Question 3

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

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Question 4

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

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Question 5

What three companies were the initial signers of the North American Free Trade Agreement?

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Question 6

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 7

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

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Question 8

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

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Question 9

There are certain types of wood that are available only 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 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

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 12

The need for businesses to expand their markets is one of the most fundamental reasons for the growth in world trade.

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Businesses often seek to increase their customer base and revenue by reaching new markets, which can be achieved through international trade.

Question 13

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

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Question 14

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

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Question 15

What term has the opposite meaning from "protectionism"?

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Quiz 5: International The Global Marketplace