Page 107 - Business Principles and Management

Unit 1

though Australians speak English, Americans may not recognize some of their
terms and phrases.

CHECKPOINT

Describe the government policies that can be used to control
international trade.

4.2 Assessment

UNDERSTAND MANAGEMENT CONCEPTS
Circle the best answer for each of the following questions.
1. When a company ships a product to a buyer in another country
it is engaging in
a. exporting
b. importing
c. international licensing
d. a joint venture
2. Which of the following is not a barrier to free trade?
a. tariffs
b. dumping
c. quota
d. importing

THINK CRITICALLY
Answer the following questions as completely as possible.
3. What policies can a government adopt to protect domestic
businesses from foreign competition?
4. How do changes in currency exchange rates
affect international business?

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