一、What does international business refer to? Please tell the difference between international business and domestic business.1. International business refers to transactions between parties from diffirent countries.There are four major diffrences between international business and domestic business:1)differences in legal system2)differences in currencies3)differences in cutural background4)differences in natural and economic conditionsPlease explain the differences between visible trade and invisible trade. Which is becoming more and more important and accounts for an increasing proportion in international trade?modity trade, i.e exporting and importing goods produced or manufactured in onecountry for consumption or resale in another. This kind of trade is also referred to visible trade.Invisible trade is in the form of transportation, communication, banking, insurance, consulting, information etc. Invisible trade is becoming more and more important and accounts for an increasing proportion in international trade.Can you cite some examples to illustrate cultural differences in international business?3.Cultural differences including language, customs, traditions, religion, value, behavior etc. Please elaborate on the two categoreis of international investment. What is their major difference?4.Foreign direct investments or FDI for short is made for returns through controlling theenterprises or assets invested in in a host country.Portfolio investment refers to purchases of foreign financial assets for a purpose other than controlling.What is licensing? Why do firms sometimes choose it as means of entering a foreign market?5.In licensing, a firm leases the right to use its intellectual property to a firm in another country.Firms choose licensing because they do not want to make cash payments to start business, and can simply receive income in the form of royalty. Besides, they can benefit from locational advanteges of foreign operation without any obligations in ownership or management.What is franchising? How is it different from licensing?6.Under franchising, a fim, called the franchisee, is allowed to operate in the name of another,called the franchiser who provides the former with trademarks, brand name, logos, and operating techniques for royalty.In comparision with the relation between the licenser and the licensee, the franchiser has more control over and provides more support for the franchisee.What is a management contract? Under what conditions is it most applicable?7.Under a management contract, one company offers managerial or other specialized services toanother within a particular period for a flat payment or a percentage of the relevant business volum.When a government forbids foreign ownership in certain industries it considers to be of strategic importance but lacks the expertise for operation, management contracts may be a practical choice enabling a foreign company to operate in the industry without owning the assets..What is an international turnkey project? In what way is its variant BOT different from it?8.For an interantional turnkey project, a firm signs a contract with a foreign purchaser andundertakes all the designing, contracting and facility equiping before handing it over to the latter upon completion.For a BOT project, a firm operate a facility for a period of time after building it up before finally transferring it to a foreign company.Making profit from operating the project for a period is the major difference between BOT and the common turnkey project.Franchise: an arrangement by which a monopoly producer or owner gives another permission for the exclusive right to manufacture or sell the products in certain area.Royalty: money paid to the owner of a copyright fr permission to publish copy right material and to the owner of a patent for permission to use a patented design, usu, at an agreed percentage of the selling price of the product.Patent: a special right to an inventor to be the only person to make and sell, or to authorize others to make and sell a newly-invented machine or process.Non-tariff barries: all forms of man-made obstructions to international trade other than tariffs, including prohibitions and quotas, etc.Portfolio: the entire collection of investments in the form of stocks, bonds, or certificate of deposits for purposes other than controlling.Turnkey project: one in which one of the parties agrees to supply, at the contract price, a complete product ready for use, such as a new home, factory, ship, etc.Budget: an account of probable future income and expenditure during a stated, period, usu, a year used as a guide in making financial arragements.Return: the gain from an investment, either as income or yield or as profit on the sale of the investment.Expertise: expert knowledge or skill, esp. in a particular field; know-howLicensor: a person or company granting a licence1.国际贸易一般指不同国家的当事人进行的交易，它涉及到许多因素，因而比国内贸易要复杂得多。