Introduction to Business

Section 1: The Global Market Place

Self-Checks

1
The global economy is the ______ economies of the nations of the world.
A)independent
B)integrated
C)interconnected
D)internationalized
2
The development of the global economy is often called ______ .
A)centralization
B)concentration
C)globalization
D)marginalization
3
The production, purchase, and sale of goods and services within a country is called ______ trade.
A)domestic
B)internal
C)local
D)national
4
______ trade involves the exchange of goods and services between nations.
A)International
B)Lateral
C)Multinational
D)Universal
5
The goods and services that China sells to other countries are China's ______ .
A)domestic output
B)exports
C)imports
D)surplus
6
A balance of trade is the difference in ______ between a country’s imports and exports over a period of time.
A)quantity
B)quality
C)scope
D)value
7
In July 2006, U.S. exports to Mexico were worth $15 million and imports were worth $10 million. During that month, the United States had an unfavorable ______ with Mexico.
A)balance of trade
B)economic balance
C)export ratio
D)import ratio
8
When a country exports more than it imports, it has a trade ______ .
A)balance
B)deficit
C)excess
D)surplus
9
When countries focus on a particular activity, area, or product it is called ______ .
A)globalization
B)isolation
C)nationalization
D)specialization
10
A ______ advantage is the ability of a country to produce a particular good more efficiently than another country.
A)comparative
B)domestic
C)global
D)national
Glencoe Online Learning CenterBusiness Administration HomeProduct InfoSite MapContact Us

The McGraw-Hill CompaniesGlencoe

Please read our Terms of Use and Privacy Notice before you explore our Web site. To report a technical problem with this Web site, please contact the Web Producer.