this is to help you

1. Chapter 3

2. • International Business- business
activities needed for creating,
shipping, and selling goods and
services across national borders
• Imports: Items bought from other
countries
• Exports: Goods and service sold to
others countries

3. • Balance of trade: difference between
a country a country total exports and
total imports
• Balance of payments-difference
between the amount of money that
country and the amount that goes
out of it
• Exchange rate: The value of a
currency in one country compared
with the value in country

4. • Trade Barriers: Restrictions to free
trade
• Quota: Limit on the quantity of a
product that may be imported or
exported within a given period
• Tariff-tax that a government places
on certain imported products
• Embargo: Stop the export or import
of a product completely

5. • Free Trade agreement: member
countries agree to remove duties
and trade barriers on products
traded among them
• Common Markets: members do
away with duties and others trade
barriers

6. • Multinational company
(MNC): an organization that
does business in several
countries
• Global strategy: uses the
same product and marketing
strategy worldwide

7. • Multination strategy: treats
each country market
differently
• Joint Venture: Is an
agreement between two or
more companies to share a
business project