Int. Business

The flashcards below were created by user studiousstudent on FreezingBlue Flashcards.

  1. when items that consumers need or want are produced in foreign countries
    global dependency
  2. restrictions that reduce change
    trade barriers
  3. give three examples of trade barriers
    • 1. import taxes that increase the cost of foreign products 
    • 2. quotas that limit the number of imports
    • 3. laws that prevent certain products from coming into a country
  4. four factors that make International Business different from local business
    • Geographic Conditions
    • Cultural and Social Factors
    • Political and Legal Factors 
    • Economic Conditions
  5. six step decision making process
    • 1. define the problem
    • 2. identify the alternatives
    • 3. evaluate the alternatives 
    • 4. make a choice
    • 5. take an action on the choice
    • 6. review the decision
  6. the relationship between the amount of a good service that businesses are willing and able to make available and the price
  7. the relationship between the amount of a good or service that consumers are willing and able to purchase and the price
  8. when the supply equals demand
    market price/ equilibrium
  9. increase for expenses of labour and raw materials cause higher prices
    cost push inflation
  10. when demand exceeds price
    demand-pull inflation
Card Set:
Int. Business
2015-11-12 17:35:44
Int. Business
ch.1 and ch.2
Show Answers: