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Study
Entrepreneurship: Chapter 4 & 5
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franchisee
the buyer
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Trade missions lets small business owners meet and talk with domestic agents, distributors, or potential business partners. True or False
False
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buying or bringing in goods from other countries to sell
importing
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interconnected economies of the nations of the world
global economy
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is the total value of all goods produced during the year
gross domestic product (GDP)
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the franchisor
the seller
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are the beliefs and principles you choose to live by
values
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are personal characteristics that describes a population
demographics
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a legal agreement to begin a new business in the name of a recognized company
franchise
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are taxes imposed by a government on imported or exported goods
tariff
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The "best prospect" list is product that other countries are looking to purchase. True or False.
True
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EU
The European Union
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NAFTA
North American Free Trade Agreement
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is money people have to spend after paying for necessary expenses
disposable income
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is a restriction on goods entering or leaving a country
trade barrier
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is someone whose jobs is to bring buyers and sellers together
business broker
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the selling and shipping of goods to another country
exporting
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translate other peoples languages into English
interpreter
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Europe is a difficult market to define because there is no common culture. True or False
True
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What are 4 current entrepreneurial trends
nonprofit, socially responsible, green, home-base, service, internet, strategic alliances
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IBEX
International Business Exchange
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