Match Each Item to the Statement or Sentence Listed Below

question 171

Short Answer

Match each item to the statement or sentence listed below.
a.exporting
b.World Trade Organization
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.multi-domestic marketing strategy
m.countertrade
n.joint venture
o.exchange control
p.customs union
q.Free Trade Area of the Americas
r.European Union
s.importer
t.embargo
u.franchise
-is the sale of domestically produced products in other countries.

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Definitions:

Average-fixed-cost Curve

A graphical representation showing how the average fixed cost of production decreases as the quantity of output increases.

Implicit Costs

The opportunity costs of using resources owned by the business for its operations instead of allocating them to their best alternative use.

Interest Rate

The expense associated with taking out a loan or the earnings from investments, usually shown as a percent of the total amount invested or borrowed.

Specialization

The process of focusing effort and resources on a limited number of activities to gain efficiency or expertise.