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61 Cards in this Set
- Front
- Back
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Apparel Manufacturer
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firms that engage in merchandising (design & product develp), production, and wholesale marketing of apparel
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CMT
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Cut, Make, Trim
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CMT -
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apparel contractors who's primary service is apparel assembly
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Conglomerate
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business formed when firms in unrelated markets join together for common ownership
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Contractor
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firm that maufactures products for other businesses or arranges for their production
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Department Store
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retailers who provide a variety of product lines: men, women, children, home goods at moderate to high prices
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Developed country
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nation who's gross domestic product per capita and other measures of well being fall ABOVE the world average
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Developing Country
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nation who's GDP per capita and other measures of well being fall BELOW world average
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Domestic Trade
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exchange of goods, services, or both within boundaries of specified state or country
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Export Trading and Sourcing Company
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provides services for entire global apparel manufacturing and distributing process
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Exports
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goods shipped to another country for import in exchange for money
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Findings
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Materials other than face fabric used to construct garments ex: closures
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Firm
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any business, corp., proprietorship, or partnership
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Full Package
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apparel contractor providing production services and assisting with and finances product devel. and materials sourcing
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Global Trade
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the potential interactive participation of many groups, cultures, and nations, in the merchandising, production, and distribution of products
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Globalization
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process where world's people are becoming increasingly interconnected in all facets of their lives
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GDP
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market value of the output of products and service produced within a country in a year
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GDP per capita
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GDP/ # of ppl in population
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GNP (Gross National Product)
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value of average output produced by domestic residents of nation they labor in
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Horizontal Integration
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changes from mergers and takeovers
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Imports
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goods available for domestic comsumption because of exports from other countries
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International Trade
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any exchange of goods involving 2 or more countries
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Lean Retailing
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effective management of inventory based on accurate and timely information
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Least Developed Country
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nation whose GDP per capita are among the LOWEST in the world, not yet involved in indust. dev. of apparel
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Market Week
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time set aside for trade shows of manufacturer's product lines presented at wholesale to retail buyers
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Mass Retailer
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firm offering variety of consumer goods in self- service environ. with broad appeal to everyone
ex: Target, Wal Mart |
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Merger
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combining 2 business entities into 1 large business
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Newly Developing Country
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nation whose GDP and other measures fall BELOW world average & are indus. dev. of apparel
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Non- Store Retailer
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firms sell goods to ultimate consumer without use of traditional brick- and- mortar presentation (store)
ex: e-tailers, lands-end, QVC |
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Outsourcing
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having tech services outside of the country for operations inside the country
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Outward Processing
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outsourcing non-origin- confering operations to a country with a lower wage rate
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(PPP)
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Purchasing Power Parity
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PPP
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determined by adjusting GDP in each country by a system that determines the relative buying power of each currency
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(QR)
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Quick Response
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QR
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business strategy incorporating time-based competition, agility, and optimizes the supply system, distribution syst. and customer service
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Quotas
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limits on quantity of prod. allowed to enter or exit a country
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Retail Product Developer
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person or firm develops merchandise plans, creates designs/ specifications for retailer's PRIVATE labels
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Sourcing
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acquiring materials and finished goods
- selecting country or vendor to do business with |
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Soft Goods
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products made of textiles or other flexible materials
ex: fabrics, apparel, linen, towels |
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State Trading
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involvement of govt. in the business environment
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Takeovers
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strong firms absorb weaker firms to form one large business
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Tariffs
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taxes on imports or exports
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Textile complex
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combination of textile related industries that supply soft goods to world pop.
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Trade Agreement
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encouraging, regulating, or restricitng elements of trade between countries
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Trade balance
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quantatitative relationship between exports and imports
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trade barriers
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regulating or restricting trade, foreign investment
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Trade surplus
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positive trade balance; exports exceed imports
*CHINA |
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Vertical Integration
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combining firms that perform diff stages in production of products
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(WTO)
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World Trade Organization
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Retailing
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sale of merchandise or services to ultimate consumer
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(NRF)
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National Retail Federation
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NRF
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largest retail trade association in the US
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(IRF)
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International Retail Federation
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IRF
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developed new publicaiton listing largest retailers in the world
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NAFTA
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eliminated tarriffs and quotas in Canada, Mexico, and USA
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EU
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formed in 1993 to expand cooperation on trade, social issues, foreign policy, security, defense, and judicial issues
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trade deficit
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Imports exceed exports
- negative ex: USA |
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Premier Vision
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textile show in Paris
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Highest GDP
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USA
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Lowest GDP
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Haiti
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Second Highest GDP
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China
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