Basics of Export

_________ is the activity to sell the goods or services to another country.

• Exporter

• Importer

• Export

• Import

Why might a country import goods instead of making everything itself?

• A country imports goods to boost the Gross Domestic Product.

• Importing keeps a country's ports and shipping industry in business.

• A country imports goods that can be more effectively and cheaply produced by another country.

• Importing keeps relation with other countries positive and reduces the risk of conflicts.

Setting a limit on the quantity of a product that may be imported or exported within a given period to regulate international trade is called?

• Tariff

• Embargo

• Quota

• Deal

___________ is a tax that a government places on certain imported products

• Tariff

• Embargo

• Quota

• Deal

These are typically found in airports & seaports and do not follow the regular trade customs and are considered duty-free

• Free-trade zones

• Free-trade agreements

• Non-tariff alliances

• Common markets

. 

__________________ reduces trade barriers and encourages trade between countries.

• Free-trade zones

• Non-tariff alliances

• Free-trade agreements

• Common markets

Purchasing the right to use a company name or business process in a specific way   ex.  McDonald’s, Burger King, KFC and Pizza Hut • •

• Licensing

• Franchising

• Joint venture

• Infrastructure

Sports teams having their logo on memorabilia is considered?

• Licensing

• Joint venture

• Franchising

• Infrastructure

__________is the payment method most often used in International Trade which offers the exporter best assurance of being paid for the products sold internationally.

• Open account

• Bill of lading

• Letter of credit

• Drafts

How has technology changed international business?

• Technology has made communication easier and more effective.

• Technology has made transportation quicker and cheaper.

• Technology has made it easier to educate new and potential employees.

• All of the answers are correct