Globalization
Chapter 5: Business in a Global Economy

Flashcard
•
Business
•
9th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
the connection made among nations when economies freely move goods, labor, and money across borders
2.
FLASHCARD QUESTION
Front
Culture
Back
the shared beliefs, customs, practices, and social behavior of a particular group or nation
3.
FLASHCARD QUESTION
Front
International Trade
Back
the buying and selling of goods and services across national borders
4.
FLASHCARD QUESTION
Front
Domestic Business
Back
all the business activity involved in making, buying, and selling product within a nation’s borders
5.
FLASHCARD QUESTION
Front
Exports
Back
goods and services that are produced within a country’s borders and sold in another country
6.
FLASHCARD QUESTION
Front
Imports
Back
goods, services, and capital that are brought into a country from outside its borders
7.
FLASHCARD QUESTION
Front
Absolute Advantage
Back
when a country can produce goods more efficiently and at a lower cost than another country
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