BUSI 465 quiz 3,ANSWERS COMPLETE SSOLUTION GRADED A.

Match the following terms to the correct description: benefit to free market can be obtained through government management of the macro economy. trading bloc of countries that invoke little or no price control in the form of tariffs or quotas between each other. geographical area where commercial merchandise can be held without being subject to customs duties. countries arrange to lower or eliminate tariffs on selected goods for each other. market forces determine levels of production, consumption, investment, and savings. economic power is divided between the state and private sector. One of the keys to success in the import/export business is adapting your product to market. Products bearing the ______________ mark are guaranteed free circulation within the EU market. American partnership for economic growth include all of the following EXCEPT: In order to expand their exporting activities, many Japanese firms rely on giant general trading companies known as _____________. Which of the following countries is the United States #1 trading partner? All of the following are among the world’s top five exporters EXCEPT: ___________are not required on most commercial and industrial goods exported from the United States to Europe. The top two destinations for US Exports are ___________ and ____________. All countries except Liberia, Eritrea, Gabon, Nigeria, Mauritania and Sudan are eligible for the General System of Preferences (GSP). When doing business in India, it is customary to show up to appointments a little late. __________ is considered the economic powerhouse of Africa. The EU has established the __________ to provide within the context of its common external commercial policy a key to any differential treatment applied to imports from non-member countries. _________ contains a series of amendments to the Treaty of Rome that made it easier to negotiate the directives needed to make the single market work. When doing business abroad, international partners and customers should be treated differently than their domestic counterparts. Africa is the second largest trading area in the world. Which of the following countries has the highest trading potential in Western Europe? According to current research, which of the following countries is the world leader in export trade? China and India are the most populous nations in Asia. When doing business in the Middle East, one should avoid shaking hands with the opposite sex.