10 Questions
International Business refers to any firm engaged in both international ______ and investment.
trade
International Trade occurs when firms export or import goods or services to and from countries other than their ______.
countries
There's a Trade Surplus in countries where export activities are higher than ______ activities.
import
Free Trade allows unrestricted export and import of goods from one country to other ______.
countries
Outsourcing is the practice of hiring or contracting services of another company to perform part of the firm's ______ operations.
business
Entrepreneurship involves the recognition of opportunities such as needs, wants, problems, and challenges to create and develop products to take advantage of those ______.
opportunities
Intrapreneurship is a form of entrepreneurship that occurs within a business that is already ______ existence.
in
An Intrapreneur is an employee of a firm who uses entrepreneurial skills to create and develop innovative products for the ______.
firm
SWOT Analysis is a tool that helps a company evaluate its internal characteristics and external ______.
environment
Strategic Management is the field of knowledge that addresses questions regarding the development and implementation of effective business ______.
strategies
Learn about the basics of international business and trade, including definitions of international business, international trade, exports, and imports. Understand the concepts of trade surplus and trade deficit in the global market.
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