Match each item with the correct statement below.
-A(n)_____ is the price of one nation's currency in terms of another nation's currency.
A)exporting
B)WTO
C)infrastructure
D)exchange rate
E)tariff
F)import quota
G)dumping
H)ISO certification
I)foreign licensing
J)multinational corporation
K)global marketing strategy
L)multidomestic marketing strategy
M)countertrade
N)related party trade
O)exchange control
P)customs union
Q)CAFTA-DR
R)importer
S)embargo
T)franchise

Question

Quizplus · Accepted Answer

An exchange rate is the price of one nation's currency in terms of another nation's currency.

Answer: E
 A tariff is a tax placed on imported goods.

Answer: C
 Infrastructure refers to the basic physical and organizational structures and facilities needed for the operation of a society or enterprise.

Answer: A
 Exporting refers to the sale of goods or services produced in one country to another country.

Answer: F
 An import quota is a limit on the quantity of a particular good that can be imported into a country.

Answer: G
 Dumping refers to the practice of selling goods in a foreign market at a price lower than the cost of production or below the price charged in the home market.

Answer: I
 Foreign licensing involves allowing a foreign company to use a domestic company's intellectual property (such as patents or trademarks) in exchange for payment.

Answer: J
 A multinational corporation is a company that operates in multiple countries, often with a centralized management structure.

Answer: K
 A global marketing strategy refers to a marketing approach that is consistent across all countries in which a company operates.

Answer: L
 A multidomestic marketing strategy refers to a marketing approach that is tailored to the specific cultural, societal, and legal differences of each country in which a company operates.

Answer: M
 Countertrade refers to the exchange of goods or services between two countries without the use of currency.

Answer: P
 A customs union is a group of countries that have agreed to eliminate tariffs and other barriers to trade among themselves, and to set a common external tariff on imports from non-member countries.

Answer: Q
 CAFTA-DR (Central American Free Trade Agreement - Dominican Republic) is a free trade agreement between the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.

Answer: R
 An importer is a person or company that brings goods into a country for sale or distribution.

Answer: S
 An embargo is a government-imposed restriction on trade with one or more countries.

Answer: T
 A franchise is a business model in which a franchisor allows a franchisee to use its business name, brand, and system in exchange for a fee and ongoing royalties.

Answer: H
 ISO certification is a globally recognized standard for quality management systems, indicating that a company meets specific requirements for producing high-quality products or services.

Answer: O
 Exchange controls refer to government restrictions on the buying and selling of foreign currencies.

Match Each Item with the Correct Statement Below