Which of the following best defines balance and trade?
Which of the following best defines balance of trade? The total value of a nation's exports minus the total value of its imports over some period of time.
What is a common difficulty that traders face when exporting goods or services to other countries quizlet?
Which of the following is a common difficulty that traders face when exporting goods or services to other countries? Exporters often face voluminous paperwork and complex formalities.
Is a tax levied on a particular foreign product entering a country?
A tariff is a tax levied on a particular foreign product entering a country.
Is issued by the transport carrier to the exporter to prove merchandise has been shipped?
A bill of lading is issued by the transport carrier to the exporter to prove merchandise has been shipped.
Which of the following best describes exports?
Which of the following best describes exporting? It refers to the process of entering foreign markets by selling goods abroad produced in a company's home country.
Which of the following best defines export?
Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.
What is a common difficulty that traders face when exporting goods or services to other countries?
Which of the following is a common difficulty that traders face when exporting goods or services to other countries? Exporters often face voluminous paperwork and complex formalities.
Which of the following is a reason that firms take a reactive approach to exporting rather than a proactive approach?
What is a reason that firms take a reactive approach to exporting rather than a proactive approach? They are intimidated by the complexities and mechanics of exporting to countries where business practices, language, culture, legal systems, and currency are very different from the home market.
Which of the following arranges the sale of products to foreign intermediaries for a commission or fee?
20 Cards in this Set
| tf ability to produce a specific product more efficiently than any other nation is called comparative advantage | F |
|---|---|
| which of the following arranges the scale of products to foreign intermediaries for a commission or fee | export/import agent |
What is the global strategy in which a firm allows a foreign company to produce?
Cards
| Term Exporting is… | Definition Selling products to another country. |
|---|---|
| Term Licensing is… | Definition A global strategy in which a firm (the licensor) allows a foreign company (the licensee) to produce its product in exchange for a fee (a royalty). |
•Oct 17, 2015
What is export shipping documents?
A shipping bill or bill of export is a document submitted by the exporter in the form of an application to obtain clearance from customs. It informs customs of whether the exporter has availed of government incentives, such as: Exemptions/rebates/refunds on various taxes, duties.
What is the export marketing?
Export marketing is the practice by which a company sells products or services to a foreign country. Products are produced or distributed from the company's home country to buyers in international locations.
What is exports in economics?
Exports (USD billion) Exports are defined as movable goods produced within the boundaries of one country, which are traded with another country. The sale of these goods generates foreign currency earnings in the country that produces them and boosts its economic growth.
What is export and import trade?
Importing and Exporting Exporting refers to the selling of goods and services from the home country to a foreign nation. Whereas, importing refers to the purchase of foreign products and bringing them into one's home country.
What is export marketing explain its features importance and challenges?
Export marketing is a systematic process of developing and distributing goods and services in overseas markets. The export marketing manager needs to undertake various marketing activities, such as marketing research, product design, branding, packaging, pricing, promotion etc.
What is the primary advantage of licensing?
What is the primary advantage of licensing? It helps a firm avoid the development costs associated with opening a foreign market.
When a nation has the ability to produce a specific product more efficiently than any other nation?
Comparative advantage is the ability to produce a specific product more efficiently than any other nation. Purchasing raw materials or products in other nations and bringing them into one's own country is known as importing. Selling and shipping raw materials or products to other nations is known as exporting.
What is the term used for when a nation’s exports exceed its imports?
A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Trade Balance = Total Value of Exports – Total Value of Imports.
How can firms enter foreign markets?
There are several market entry methods that can be used.
- Exporting. Exporting is the direct sale of goods and / or services in another country. …
- Licensing. Licensing allows another company in your target country to use your property. …
- Franchising. …
- Joint venture. …
- Foreign direct investment. …
- Wholly owned subsidiary. …
- Piggybacking.
What is the best form of entry into international markets?
Learning Objectives
| Type of Entry | Advantages |
|---|---|
| Exporting | Fast entry, low risk |
| Licensing and Franchising | Fast entry, low cost, low risk |
| Partnering and Strategic Alliance | Shared costs reduce investment needed, reduced risk, seen as local entity |
| Acquisition | Fast entry; known, established operations |
What do you mean by export Licence?
An export license is a government document that authorizes or grants permission to conduct a specific export transaction (including the export of technology). Export licenses are issued by the appropriate licensing agency after a careful review of the facts surrounding the given export transaction.
What is required for obtaining export license?
'Profile of Exporter and Importer' in ANF-1 form and application form for the Export License of restricted items in ANF-2N form. Copy of purchase order/import order from the foreign purchaser, or a contract agreement between the two. Proof of online payment of the application fee.
What is exporting in international marketing?
Exporting is defined as the sale of products and services in foreign countries that are sourced or made in the home country. Importing is the flipside of exporting. Importing refers to buying goods and services from foreign sources and bringing them back into the home country.
What is export selling and export marketing?
Selling to a foreign country with the focus on the product and the emphasis on selling. The key elements of marketing mix (product, price, promotion, and channels of distribution) are all the same as in the home market. Only the place or distribution is adjusted in export selling. +1 -2.
What is exports in international trade?
Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.
What is import foreign trade?
An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade. If the value of a country's imports exceeds the value of its exports, the country has a negative balance of trade, also known as a trade deficit.
What is exporting in international business?
Exporting is defined as the sale of products and services in foreign countries that are sourced or made in the home country. Importing is the flipside of exporting. Importing refers to buying goods and services from foreign sources and bringing them back into the home country.
What are the benefits of exporting and licensing products?
Exporting offers plenty of benefits and opportunities, including:
- Access to more consumers and businesses. …
- Diversifying market opportunities so that even if the domestic economy begins to falter, you may still have other growing markets for your goods and services.
- Expanding the lifecycle of mature products.
What is export marketing in international marketing?
Definition of Export Marketing Export marketing is the practice by which a company sells products or services to a foreign country. Products are produced or distributed from the company's home country to buyers in international locations.
Why is licensing good for international business?
The following are the main advantages and reasons to use international licensing for expanding internationally: Obtain extra income for technical know-how and services. Reach new markets not accessible by export from existing facilities. Quickly expand without much risk and large capital investment.