BBB4M Flashcards

A financial exchange of goods or services between businesses or individuals is called __________.

Transactions

A company that operates only within its home country is known as __________.

Domestic Business

Commercial activity that occurs across national borders, including imports and exports, is referred to as __________.

International Business

The buying, selling, and exchange of goods and services between countries is called __________.

Trade

The increase in a product’s worth after processing or manufacturing is known as __________.

Value-Added

A tax imposed on imported goods to protect domestic industries is referred to as __________.

Duty or Tariff

The increasing integration of economies, businesses, and cultures worldwide through trade is termed __________.

Globalization

Sectors that manufacture goods using raw materials are called __________.

Secondary Industries

A legal contract that allows one company to use another company’s brand for a fee is known as a __________.

Licensing Agreement

A business partnership between two or more companies to share resources in a foreign market is called __________.

Joint Venture

A government-imposed ban on trade with a specific country is known as a __________.

Trade Embargo

The value of one country’s currency in relation to another is called __________.

Exchange Rate

An increase in the value of a country’s currency compared to others is termed __________.

Currency Revaluation

The measure comparing a country’s export prices to its import prices is called __________.

Terms of Trade

Emerging markets for Canadian investment include countries like __________, __________, __________, and __________.

India, China, Brazil, Vietnam

High tariffs can lead to __________ between countries.

trade wars