1. What are two possible reasons that management contracting is prevalent in hospitality industry? (1 point)

1. What are two possible risks involved with licensing? (1 point)

1. Which countries comprise BRIC? How are their economics classified? (1 point)

1. Explain barter system with an example.(1 point)

1. What is the difference between tariff and a quota. (1 point)

1. Explain why some critics worry that American multinationals are causing countries around the globe to lose their individual identities. Give an example of the "Americanizing" of the world's cultures. ( 2 points)

1. Many studies reveal that instead of "Americanizing" the world's cultures, the cultural exchange between America and other countries goes two ways. Give two examples of how America has been influenced culturally by foreign products or services. (2 points)