Contemporary Marketing Ch. 8

5. A contractual arrangement where the franchisee agrees to meet the operating requirements of a manufacturer or franchiser.
6. When companies share the risks, costs, and management of the foreign operation with one or more partners.
8. An agreement among the United States, Canada, and Mexico that removes trade restrictions among the three nations.
10. An area in which participating nations agree to the free trade of goods among themselves, abolishing tariffs and trade restrictions.
11. Marketing domestically-produced goods and services abroad.
14. The right to distribute a firm’s merchandise or to use its trademark, patent, or process in a specified geographic area.
15. Financial investment in foreign firms or facilities.

1. A 164-member organization that oversees trade agreements among its members, serves as a forum for trade negotiations, mediates trade disputes, monitors national trade policies, and works to reduce trade barriers throughout the world.
2. The price of one nation’s currency in terms of another’s.
3. Purchasing foreign goods and services.
4. Assessing the political risks of the marketplaces in which business units operate.
7. The underlying foundation for modern life that includes transportation, communications, banking, utilities, and public services.
9. Taxes levied against imported goods
12. When the production of goods or services is assigned to local companies.
13. An economic union of 27 European countries that works to remove trade restrictions, permit the free flow of goods and workers throughout member nations, and promotes human rights.