Match each item with the correct statement below.
-_____ is a form of exporting whereby goods and services are bartered rather than sold for cash.
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

Countertrade is a form of exporting in which goods and services are exchanged instead of being sold for cash.

Answer: E
 A tariff is a tax applied to imported or exported goods, increasing their cost and making them less competitive with domestic goods.

Answer: C
 Infrastructure refers to the physical facilities and systems that support a country's economic activities, such as transportation, communication, and energy systems.

Answer: D
 Exchange rate refers to the value of a country's currency in relation to another country's currency. It can affect the cost and competitiveness of exports and imports.

Answer: F
 An import quota is a government-imposed limit on the quantity or value of goods that can be imported into a country. This can protect domestic producers but can also lead to higher prices for consumers.

Answer: H
 ISO certification is a globally recognized standard for quality management systems, indicating that a company meets certain standards of quality and consistency.

Answer: I
 Foreign licensing refers to a contract in which a company (the licensor) allows another company (the licensee) to use its products, services, or intellectual property in a foreign market in exchange for royalties or other compensation.

Answer: J
 A multinational corporation is a large company that operates in multiple countries, often with significant global market power and influence.

Answer: K
 A global marketing strategy involves developing a standardized marketing mix (the four Ps: product, price, promotion, and place) that can be used in multiple countries with minimal adaptation.

Answer: L
 A multidomestic marketing strategy involves developing marketing programs that are tailored to the specific needs and preferences of individual countries or regions.

Answer: A
 Exporting refers to selling goods or services to another country, often with the goal of expanding a company's customer base or generating more revenue.

Answer: N
 Related party trade refers to transactions between companies in the same corporate family. These transactions can be subject to special rules or regulations to prevent abuses.

Answer: O
 Exchange control refers to government regulations that restrict or regulate the flow of foreign currency in and out of a country. This can affect international trade and investment.

Answer: P
 A customs union is a type of trade agreement that eliminates barriers to trade (such as tariffs) among member countries and establishes a common external tariff on goods imported from non-member countries.

Answer: Q
 CAFTA-DR refers to the Central America-Dominican Republic Free Trade Agreement, a trade agreement between the United States, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic.

Answer: R
 An importer is a company or individual who purchases goods or services from a foreign country and brings them into their own country for sale or use.

Answer: S
 An embargo is a government-imposed restriction on trade, typically involving a ban on the import or export of certain goods or services to or from a particular country or region.

Answer: T
 A franchise is a type of business arrangement in which a company (the franchisor) allows another company (the franchisee) to use its brand, products, and operating systems in exchange for fees and royalties.

Match Each Item with the Correct Statement Below