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10 Cards in this Set
- Front
- Back
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globalization of markets |
refers to the merging of historically distinct and seperate national markets into one huge global marketplace |
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globalization |
refers to the shift toward a more integrated and interdependent world economy
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globalization of products |
refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality of factors of production |
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factors of production |
labor, land, energy, and capital |
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international trade |
when a firm exports goods or services to consumers in another country |
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foreign direct investments |
when a firm invests resources in business activities outside its home country
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moore's law |
the cost of microprocessors continue to fall while their power increases |
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stock of foreign direct investment |
refers to the total cumulative value of foreign investments |
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multinational enterprise |
any business that has productive activities in two or more countries |
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international business |
any firm that engages in international trade or investment |
