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Chapter 2Chapter 4Chapter 5/6 10 Point 20 Points 30 Points 40 Points 50 Points 10 Point 20 Points 30 Points 40 Points 50 Points 30 Points 40 Points 50 Points Chapter 3Chapter 1

Answer 1a Making, buying, and selling goods

Answer 2a Global Business, international trade, and foreign trade

Answer 3a Import taxes increase the cost of foreign products Quotas restrict the number of imports Laws prevent certain products form coming into a country

Answer 4a Economic conditions Political and legal factors Geographic conditions Cultural and social factors

Answer 5a History Geography Foreign Language Cultural awareness Study skills

Answer 1b The point at which supply and demand cross.

Answer 2b An increase in the average prices of goods and services in a country.

Answer 3b When demand exceeds supply, prices go up.

Answer 4b When the expenses of a business increase.

Answer 5b 1.Natural Resources 2.Human resources 3.Capital resources

Answer 1c Body language Appearance Eye contact Touching Personal space Color Numbers Emblems Smells

Answer 2c The belief that ones culture is better than other cultures.

Answer 3c 1.Individualism and collectivism 2.Technology 3.Leadership, power, & authority 4.Religion 5.Time

Answer 4c The belief that the group is more important than the individualism

Answer 5c Dividing the members of a cultural group into various levels

Answer 1d Political control is held by one person, a small group of people, or one political party

Answer 2d The country in which a multinational enterprise is a guest

Answer 3d A limit on the quantity or monetary amount of a product that can be imported from a given country

Answer 4d A country stopping all import-export trade with another country

Answer 5d The trend of some countries to restrict foreign ownership of companies and to establish laws that protect against foreign imports.

Answer 1e Ease of starting Freedom to make business decisions Owner keeps all profits Pride of ownership

Answer 2e Limited sources of funds Long hours and hard work Unlimited risks Limited life of the business

Answer 3e Ease of creation Additional Sources of funds Availability of different talents

Answer 4e Worldwide Market view Standardized Product Culturally- Sensitive Hiring International and Local Perspective

Answer 5e Number of companies Business costs Product differences

Make your wager

Final Answer lait

Question 1a What is Domestic business?

Question 2a What are other names for International Business?

Question 3a What are some examples of trade barriers?

Question 4a What are the four international business environment factors?

Question 5a In order to obtain success in global business, What are some specific subjects you should know?

Question 1b What is Market price?

Question 2b What is inflation?

Question 3b What is demand-pull inflation?

Question 4b What is cost-push inflation?

Question 5b What are the three factors of productions?

Question 1c What are some types of nonverbal communication.

Question 2c What is ethnocentrism?

Question 3c What are five important value categories that differ from culture to culture?

Question 4c What is collectivism?

Question 5c What is class system?

Question 1d What is totalitarian system?

Question 2d What is a host country?

Question 3d What is a quota?

Question 4d What is trade embargo?

Question 5d What is economic nationalism?

Question 1e What are some advantages of a sole proprietorship?

Question 2e What are some disadvantages of a sole proprietorship?

Question 3e What some advantages of a partnership?

Question 4e What are some the characteristics of the Multinational companies?

Question 5e What are the three major factors that affect competition?

Final Question How do you say milk in French?