12 Questions
What does the term Pax Romana refer to?
A period of peace and stability under the Roman Empire
What is a characteristic of a 'born global' firm?
It is established as an international business from its inception
What occurs when a country imports more goods and services than it exports?
Trade deficit
What are the benefits of achieving economies of scale?
Decreased production costs and higher profits
What is foreign direct investment (FDI)?
An investment made by a company or individual in one country in business interests in another country
What is the term for trade barriers that restrict imports through means other than tariffs?
Nontariff barrier
What is the primary purpose of mixed aid credit?
To facilitate export activities by overcoming barriers
What is the main benefit of export consortia to foreign buyers?
A one-stop shopping center for complementary products
What is the primary goal of protectionist policies?
To protect domestic industries from foreign competition
What power does the Trade Promotion Authority (TPA) grant to the U.S. President?
The power to negotiate and submit international trade agreements to Congress
What is the primary characteristic of bilateral negotiation?
Conducted primarily between two nations
What is the main difference between bilateral and multilateral negotiation?
The number of parties involved in the negotiation
Test your understanding of international business concepts, including the Pax Romana, economic blocs, and born global firms. Learn about the Roman Empire's period of peace and stability, economic agreements, and firms that operate internationally from inception.
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