INTRO TO BUSINESS (QUIZ 4)
QUESTIONS WITH CORRECT ANSWERS
\.Globalization - ANSWERS✔-Process by which the world economy is
becoming a single interdependent system.
\.Import - ANSWERS✔-Product made or grown aboard but sold
domestically.
\.Export - ANSWERS✔-Product made or grown domestically but shipped
and sold abroad.
\.Balance of Trade - ANSWERS✔-Economic value of all products a
country exports minus the economic value of all products it imports.
\.Trade Deficit - ANSWERS✔-Situation in which a country's imports
exceed its exports, creating a negative balance of trade.
\.Trade Surplus - ANSWERS✔-Situation in which a country's exports
exceed its imports, creating a positive balance of trade.
QUESTIONS WITH CORRECT ANSWERS
\.Globalization - ANSWERS✔-Process by which the world economy is
becoming a single interdependent system.
\.Import - ANSWERS✔-Product made or grown aboard but sold
domestically.
\.Export - ANSWERS✔-Product made or grown domestically but shipped
and sold abroad.
\.Balance of Trade - ANSWERS✔-Economic value of all products a
country exports minus the economic value of all products it imports.
\.Trade Deficit - ANSWERS✔-Situation in which a country's imports
exceed its exports, creating a negative balance of trade.
\.Trade Surplus - ANSWERS✔-Situation in which a country's exports
exceed its imports, creating a positive balance of trade.
