Question 1

What economic differences can become barriers to international trade? How can these differences be addressed to avoid a negative impact on global business?

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Question 2

The International Monetary Fund (IMF)exists to promote international economic cooperation and stable growth.Describe how the IMF accomplishes this.

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Question 3

Describe the kinds of agreements that joint ventures create for global business.

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Question 4

Explain how the exchange rate impacts the value of currency (in the economy).Compare and contrast using the Canadian dollar and the euro.

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Question 5

Describe how sociocultural differences can become barriers to international trade and how these differences can be addressed to avoid a negative impact on global business.

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Question 6

Describe the process of foreign licensing and foreign franchising.How are they similar and different? Give an example of at least one company for each.

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Question 7

Describe the advantages and disadvantages of foreign franchising.Give examples of companies currently franchising abroad to support your answer.

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Question 8

Describe the purpose of the European Union as it relates to trade relations with Canada.

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Question 9

Over the last 20 years,describe China's journey as it raised its competitive stance in a global market.Offer suggestions on how China can move forward in the second decade of the 21st century.

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Question 10

Define absolute advantage and comparative advantage.Explain how China has an absolute advantage over Canada and how Canada has a comparative advantage over China.

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Question 11

List,define,and describe the strategies for reaching global markets.

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Question 12

Define trade surplus,trade deficit,and balance of payment surplus.Compare and contrast trade deficit and trade surplus to balance of payment deficit and balance of payment surplus,and explain the total impact on a stable economy.

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Question 13

Explain how nations measure exports and imports in an effort to strengthen their economy.

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Question 14

Define countertrade and explain its impact on a nation's economy.

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Question 15

Describe the significant risks to a business of not maintaining quality control and social responsibility as it affects foreign outsourcing.Give an example of how that may or may not affect consumer purchasing.

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Question 16

Political and legal differences can sometimes create barriers to international trade.Explain the types of international trade restrictions that could be used to limit trade with countries.To support your answers,include reasons trade restrictions are created and reasons those same restrictions could be eliminated.

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Quiz 17: The World Marketplace: Business Without Borders