International Business Activity

Question 0

Exporting

Answer 0

Selling products outside the country in which they are produced

Question 1

Importing

Answer 1

Buying goods or services from a supplier in another country

Question 2

Licensing

Answer 2

Agreement to produce and market another company’s product in exchange for a royalty or fee

Question 3

Franchising

Answer 3

Selling the right to use a business system including brand names, business processes, trade secrets and other access

Question 4

Strategic alliances

Answer 4

Long term partnerships between two or more companies to jointly develop, produce, or sell products

Question 5

Joint venture

Answer 5

Two or more firms join together to create a new business entity that is legally separate and distinct from its parents

Question 6

Foreign direct investment

Answer 6

Investment of money by foreign companies in domestic business enterprises

Question 7

Multinational corporations

Answer 7

Companies with operations in more than one country