Jeopardy Trade Currency Int l Bus. Barriers World Business Q$100 Q$100 Q$100 Q$100 Q$100 Q$200 Q$200 Q$200 Q$200 Q$200 Q$300 Q$300 Q$300 Q$300 Q$300 Q$400 Q$400 Q$400 Q$400 Q$400 Q$500 Q$500 Q$500 Q$500 Q$500 Final Jeopardy
$100 Question from Trade The United States does business with over 150 countries
$100 Answer from Trade True actually over 180 countries.
$200 Question from Trade A country can have an absolute advantage in only one area.
Answer to $200 from Trade False
$300 Question from Trade This is a situation in which a country specializes in the production of a good or service at which it is relatively more efficient. A. Absolute advantage B. Specialization C. Comparative advantage D. Exports
$300 Answer from Trade C ---comparative advantage
$400 Question from Trade The difference between a country s total imports and exports. A. Balance of payments B. Net exports C. Comparative advantage D. Balance of trade
$400 Answer to Trade D. Balance of trade
$500 Question from Trade Which of the following statements about trade is false? A. The United States has a trade surplus with most countries. B. A negative balance of payments is unfavorable. C. Tourism is included in balance of payments. D. The larges trade partner with the United States is Canada.
$500 Answer to Trade A we have a trade deficit with most countries.
$100 Question from Currency Currencies are traded like stocks and bonds.
$100 Answer from Currency True the values change daily.
$200 Question from Currency England uses the Euro as its currency.
Answer to $200 from Currency False they use the pound
$300 Question from Currency The biggest factors influencing the value of a currency are: A. Travel and tourism B. Supply and demand C. Inflation and culture D. Language and education
$300 Answer from Currency Those 2 all important forces supply and demand.
$400 Question from Currency The value of a country s currency is likely to decline as a result of : A. A trade surplus B. Favorable balance of payments C. Lower interest rates D. Higher inflation
$400 Answer to Currency D. Higher inflation
$500 Question from Currency The 3 main factors affecting currency exchange rates between countries are: A. Politics, religion, culture B. Tourism, military spending, trade balance C. Balance of payments, economic conditions, political stability D. Comparative advantage, trade balances, trade barriers
$500 Answer to Currency C
$100 Question from Int l Business A nation s transportation, communication and utility system is its infrastructure.
$100 Answer from Int l Business TRUE
$200 Question from Int l Business Ethics is the accepted behaviors, customs and values of a society.
Answer to $200 from Int l Business False--culture
$300 Question from Int l Business Which IS NOT one of the key effects on a country s level of economic development? A. Agricultural dependency B. Government system C. Technology D. Literacy level
$300 Answer from Int l Business B this is one of the political legal factors that are part of the international business environment.
$400 Question from Int l Business NAFTA is an agreement between what 3 countries? A. US, Canada, Cuba B. US, Mexico, Cuba C. US, Hawaii, Mexico D. US, Mexico, Canada
$400 Answer to Int l Business D
$500 Question from Int l Business Which of the following would hurt a countries ability to be a powerful international country? A. Having access to many airports and seaports. B. A widely spoken language C. Unstable government D. A strong currency
$500 Answer to Int l Business C
$100 Question from Barriers The most severe trade barrier is a quota.
$100 Answer from Barriers False
$200 Question from Barriers A free trade zone is usually located around a seaport or airport.
Answer to $200 from Barriers True
$300 Question from Barriers Which is an informal trade barrier? A. Tariff B. Traditions C. Quota D. Embargo
$300 Answer from Barriers B others are culture and religion
$400 Question from Barriers The European Union is an example of a: A. Common market B. Free-trade zone C. Free trade agreement D. A dance done to techno music
$400 Answer to Barriers A. ---similar to a free trade agreement
$500 Question from Barriers The United States imposed an embargo against Cuba during which decade? A. 1920 s B. 1930 s C. 1940 s D. 1960 s
$500 Answer to Barriers D 1960 s
$100 Question from World Business Geography is a factor in international trade
$100 Answer from World Business True
$200 Question from World Business In a global strategy, a company uses the same strategy for its product in all countries.
Answer to $200 from World Business True
$300 Question from World Business Selling the right to use some intangible property for a fee is called: A. Franchising B. Joint venture C. Licensing D. Free trade agreement
$300 Answer from World Business C. Licensing
$400 Question from World Business Name 3 of the 4 main factors in the international business environment:
$400 Answer to World Business Geography, Economic factors, Cultural factors, Political-legal factors
$500 Question from World Business Which of the following is true about International Business A. The US trades with most stuff with China B. Three common informal trade barriers are quotas, tariffs and embargoes C. When a country has a favorable balance of payments, the value of its currency is usually constant or rising. D. The United States has an overall trade surplus with most countries.
$500 Answer to World Business E All of the above
Final Jeopardy Question Which is the correct order for the top 4 trading partners with the US as of April 2013 according to the US Census Bureau (total trade)? A. Canada, Mexico, China, Japan B. China, Canada, Japan, Mexico C. Japan,Canada, China, Mexico D. Canada, China, Mexico, Japan
Final Jeopardy Answer A
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