intro to businees mgmt (d)

1. What are some of the reasons companies engage in global trade? 2. Define absolute advantage. 3. The opportunity of giving up the second-best choice when making a decision is defined as 4. Define balance of trade. 5. A is a shortfall that occurs when the total value of a nation's imports is highei than the total value of its exports. 6. Define bartering. 7. Define importing and exporting. 8. Firms ready to seize the opportunities available in global markets have many options on how to move forward; what are they? 9. What are some of the barriers to international trade? 10. What are joint ventures? 11. are taxes levied against imports. 12. What is GATT? 13. What is a trading bloc? 14. The maiority. of businesses in the uS are owned and organized under one of four forms. What are the four? 15. List two advantages and two disadvantages of a sole proprietorship. 16. It is legally possible to start a partnership on the basis of a verbal agreement, however. it is recommended to get everything in and to seek expert legal assistance when drawing up the agreement. 17. How many partners can participate in a general partnership? 18. What is one key difference between common stockholders and preferred stockholders? 19. are the individuals who are elected by stockholders of a corporation to represent their interests. These members seldom take an active role in the day-to-day management of their company. Instead, they appoint a CEO and others to manage the company on a daily basis. 20. List two advantages and two disadvantages of corporations. 21. A combination of tivo firms that are in the same industry is a 22. A corporate restructuring in which one firm buys another is an 23. The business entity in a franchise relationship that allows others to operate its business using resources it supplies in exchange for money and other considerations is a 24 The party in a franchise relationship that pays for the right to use resources supplied by the franchisor is the