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29 Cards in this Set
- Front
- Back
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International Business |
Business activities that occur between two or more countries.
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World Trade Organization
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International organization that creates and enforces rules governing trade among countries.
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Trading Bloc
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Group of two or more countries that agree to remove all restrictions on the sale goods and services among them, while imposing barriers to trade and investment from countries that are not part of the bloc.
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European Union
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A trading bloc of European countries.
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Euro
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The currency of the European Union.
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North American Free Trade Agreement
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A trading bloc consisting of the United States, Canada, and Mexico.
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International Monetary
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International institutions that helps countries that are facing serious financial difficulties in paying for their imports or repaying loans.
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World Bank
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International institution that provides low-cost, long-term loans to less-developed countries to develop basic industries and facilities.
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Exporting
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When a company sells its goods and services to buyers in a foreign country.
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Importing
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Buying goods or services made in a foreign country.
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International Licensing
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Arrangement in which one company allows a different company in another country to make and sell its products according to certain specifications.
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Joint Venture
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Two or more businesses that agree to provide a good or service, sharing the costs of doing business and also the profits.
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Wholly Owned Subsidiary
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When a firm sets up a business abroad on its own without any partners.
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Strategic Alliances
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Arrangements in which firms to cooperate on certain of business while remaining competitors on other aspects.
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Multinational Firm
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A business that owns or controls production or services facilities outside the country in which it is based. |
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Home Country
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The country in which a multinational corporation has its headquarters.
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Host Country
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The foreign country where a multinational firm has production and service facilities.
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Parent Firms |
A company that controls another company.
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Subsidiaries
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Foreign branches of a business, registered as independent legal entitles.
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Tariffs
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A tax on foreign goods to protect domestic industries and earn revenue.
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Dumping
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The practices od selling goods in a foreign market at a price that is below cost or below what the business charges in its own home country.
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Quota
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Limits placed on the quantity or value of units permitted to enter a country.
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Nontariff Barriers
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Barriers other than tariffs that restrict imports.
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Embargo
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A process in which the government bars companies from doing business with particular countries.
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Sanction
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A milder form of embargo that bans specific business ties with a foreign country.
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Exchange Rate
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The value of one country's currency expressed in the currency of another.
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Culture
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The customs, beliefs, values, and patterns of behavior of the people of a country or group.
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Low-Context Culture
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A culture in which people commutate directly and explicitly.
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High-Context Culture
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A culture in which commination occurs through non-verbal signs and indirect suggestions.
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