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21 Cards in this Set
- Front
- Back
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Barrier to trade |
A government-imposed restraint on the flow of international goods or services |
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Tariff |
A tax that is being imposed on Imports |
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Subsidy |
Subsidies can reduce the price to the consumer and have the effect of making the domestic Goods cheaper to produce than those imported into the country |
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Quota |
Imposing a strict limit on the amount of a certain type of good that may be imported into a country |
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Protectionism |
A way of protecting a particular industry from competitive forces or advancing some industries by providing assistance |
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Values |
The specific beliefs that people have about what is right and what is wrong |
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Theocratic law |
A legal system based on religious beliefs. |
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Civil law |
A legal system based on a very detailed set of written codes and laws. |
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Common law |
A legal system based on precedent and custom in which judges have the flexibility to interpret the law. |
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Legal system |
A network of rules and laws that specify the acceptable behaviors, enforcement ofaws, and consequences for breaking those laws. |
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Totalitarianism |
A political system in which the government is represented by one party with control of all decisions related to the activities of that country; this political system does not allow for other political parties to coexist. |
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Social democracy |
A political system in which socialism is achieved through democratic process. |
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Democracy |
A political system in which the government is elected by the people or their selected representatives; multiple political parties can exist in democracy. |
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Political system |
The organization of the government in a country |
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Mixed economy |
The economic system where some businesses are owned by the government and some are owned by individuals |
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Centrally planned economy |
An economic system where the production of goods and services is controlled by the government and all or most businesses are state owned. |
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Market economy |
The economic system in which most of the businesses are owned by individuals rather than governments. Supply and demand determines the price and the quantity of goods and services produced. |
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Globalization |
The interdependence and integration among people, companies, and countries around the world with effects on the environment, culture, political systems, and economic development of the countries involved. |
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Host country |
The country in which a company expanded and has subsidiary or various operations. |
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Home country |
The country in which a company is headquartered. |
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International business |
A business transactions between individuals, groups, businesses, and governments that cross the boundaries of two or more nations. |
