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20 Cards in this Set
- Front
- Back
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The Organization of Petroleum Exporting Countries (OPEC) |
use quotas to control oil prices |
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"Because the size of the market increases when trade barriers fall, companies can increase their production, which will result in lower costs per unit. This phenomenon is known as |
economies of scale |
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The European Union is an example of__________ integration. |
regional |
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The______is the EU's ultimate decision-making body and is composed of the different ministers of the member countries. |
Council of the EU |
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_______effects of economic integration are the overall growth in the market and the impact on a company caused by expanding production and by the company's ability to achieve greater economies of scale |
Dynamic |
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The_______clause embodied the fundamental principal of GATTNtrade without discrimination. |
most-favored-nation (MFN) |
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"The tree major responsibilities of the _______are legislative power, control over the budget, and supervision of executive decisions." |
European Parliament |
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Which of the following are members of NAFTA |
U.S, Canada, and Mexico |
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Which of the following is Walmart's competitive advantage in Mexico |
Walmart is able to transfer its 'everyday low prices' concept to Mexico |
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Of the following possibilities, the EU is best described as a ___________ |
customs union |
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Compared tho the EU the NAFTA___________ |
is slightly smaller in populaition and GDP |
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Which of the following statements about the euro is true? |
It was designed to eliminate currency as a barrier to trade in the EU |
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Which of the following groups of countries is most likely to form a regional trading group? |
Canada, U.S., Mexico |
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Which of the following statements most accurately describes the relationship between trading groups and MNEs? |
regional trading groups can define the rules under which companies must operate within that region |
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When the EU was formed, the size of the market increased for European companies. This is most likely and example of a _____________ |
dynamic effect |
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The 27 member EU negotiates trade agreements as one. The Eu and Brazil have negotiated a strategic trade alliance which is an example of a ________ |
bilateral agreement |
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The EU organization that provides political leadership, drafts laws, and runs the daily programs of the EU is the _______ |
European Commission |
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_______effect of trade agreements are the shifting of resources from inefficient t efficient companies as trade barriers fall |
static |
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the goal of a ____________is to abolish all tariffs among member countries. |
free trade agreement |
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The_______is the common currency of the EU |
euro |
