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105 Cards in this Set
- Front
- Back
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parent-country nationals or home-country nationals
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11-1: expatriates from the country in which their company is headquartered
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participative managers
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10-1: managers who decentralize power and share it with employees
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partnership
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5-1: a business that i sowned by two or more people, but is not incorporated
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passport
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12-2: government document proving the bearer's citizenship in the country that issues it
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patent
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8-2: the grant of an exclusive right of an inventor to make, sell, and use a product or process
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penetration pricing
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18-1: setting a relatively low introductory price for a new product
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personal selling
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19-1: direct communication between sellers and potential customers
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political risk
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4-2: condition where government actions or political policies could change at any time so foreign companies could be adversely affected
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political system
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4-1: the means by which people in a society make the rules by which they live
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polycentric approach
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11-1: the human resources approach that uses natives of the host country to manage operations within their country and parent-country natives to manage at headquarters
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premium
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21-2: the cost of insurance
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price
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16-2: the monetary value of a product agreed upon by a buyer and a seller
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primary data
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14-2: data collected by the user firsthand for a specific purpose
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privitization
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2-3: the process of changing an industry from publicly to privately owned
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product
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16-2: an item (good or service) being offered for sale that satisfies consumer demand
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product liability
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8-1: specific responsibilities that both manufacturers and sellers have for the safety of their product
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product life cycle (PLC)
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17-3: the stages a good or service goes through from the time it is introduced until it is taken off the market
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product line
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17-1: an assortment of closely related products designed to meet the varied needs of target customers
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production process
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15-1: the means by which a company changes raw materials into finished goods
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productivity
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15-2: the amount of work that is accomplished in a unit of time
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promissory note
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7-3: a document that states a promise to pay a set amount by a certian date
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promotion
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16-2: the marketing efforts that inform and persuade customers
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promotional mix
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19-1: the combination of advertising, personal selling, publicity, and sales promotion used by an organization
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property
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8-2: everything that can be owned
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property rights
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8-2: exclusive rights to posses and use property and its profits, to exclude everyone else from interfering with it, and to dispose of it in any legal way
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protectionism
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4-2: a government policy of protecting local or domestic industries from foreign companies
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psychographics
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16-3: buying factors related to lifestyle and psychological influences, such as activities, interests, and opinions
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publicity
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19-1: any form of unpaid promotion
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pull promotions
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19-1: marketing efforts directed at the final users of an item
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pure competition
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6-4: a market situation with many sellers, each offering the same product
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push promotions
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19-1: marketing efforts directed at members of the distribution channel
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qualitative research
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17-2: using open-ended interview questions to obtain comments from consumers about their attitudes and behaviors
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quality circle
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15-2: a small group of employees who have different jobs within the same company but have the same goal of producing a quality good or service
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quality control
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15-2: process of measuring goods and services against a product standard
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quanitiative research
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17-2: large-scale surveys that collect numeric data used to study consumers
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quota
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4-2: a limit on the total number, quantity, or monetary amount of a product that can be imported from a given country
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references
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12-2: people who can report to a prospective employer about your abilities and work experience
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regiocentric approach
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11-1: the human resources approach that uses managers from various countries within the geographic regions of a business
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relationship marketing
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19-3: an attempt to create a long-term, mutually beneficial byer-seller relationship
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reliability
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14-2: the consistency of the gathered data
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repatriation
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11-4: the process a person goes through when returning home and getting settled after having worked abroad
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resume
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12-2: a written summary of a person's education, training, work experience, and other job qualifications
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retailer
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18-2: a store of other business that sells directly to the final user
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risk
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21-2: the uncertianty of an event or outcome
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robotics
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15-1: the technology connected with the design, construction, and operation of robots
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robots
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15-1: computerized output devices that can perform difficult, repetitive, or dangerous work in industrial settings
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sales promotion
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19-1: marketing activities other than advertisiong, personal selling, and publicity
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savings and loan association
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20-1: a financial institution that traditionally specialized in savings accounts and home mortgages
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scarcity
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2-1: the limited resources availible to satisfy the unlimited needs and wants of people
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screening interview
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12-2: an initial meeting to select finalists from the applicant pool for an avalible position
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secondary data
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14-2: data not collected by the user but that are avalible for his or her use
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selection interview
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12-2: a meeting where a person is asked a series of in-depth questions desinged to help employers select the best person for the job
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self-insurance
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21-1: setting aside money to cover a potential financial loss
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senior managers
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10-3: managers who over-see the work and departments of a number of middle managers
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shopping goods
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17-1: products purchased after consumers compare brands and stores
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skim pricing
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18-1: setting a relatively high introductiory price for a new product
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small business
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9-1: an independently owned and operated business that does not dominate an industry
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social responsibility
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4-1: the process when people function as good citizens who are sensitive to their surroundings
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socialism
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2-3: the political and economic system with most basic industries owned and operated by government with the government controlled by the people as whole
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soft currency
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7-2: a currency that is not easy to exchange for other currencies
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sole proprietorship
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5-1: a business owned by one person
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span of control
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10-3: the number of emplyees that a manager supervises
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specialty goods
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17-1: unique products that consumers make a special effort to obtain
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standardized advertising
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19-2: the use of one promotional approach in all geographic regions
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statutes
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8-1: lwas that have been enacted by a body of lawmakers
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stock certificate
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5-1: a document that represents ownership in a corporation
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stock exchange
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20-2: a location where stocks are bought and sold
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stock insurance company
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21-2: an insurance company owned by stockholders and operated for profit
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stockbroker
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20-2: a person who buys and sells stocks and other investments for customers
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stockholders or shareholders
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5-1: the owners of a corporation
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strict liability
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8-1: imposes responsibility on a manufacturer or seller for intentionally causing injury to another
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strike
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13-2: a refusal by employees to work in order to force employer to agree certian demands
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subculture
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3-1: a subset or part of a larger culture
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supply
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2-2: the relationship between the amount of agood or service that businesses are willing and able to make availible and the the price
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supply analysis
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11-2: determining if there are sufficient types and numbers of employees availible
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synchroniced manufacturing
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15-2: system where workflow is distributed as needed throughout the production cycle
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system outputs
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14-1: the various types of data generated from an information system
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tailored logistics
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15-2: the system where services are combined with a product to better serve the consumers
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target market
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16-3: the particular market segment that a company plans to serve
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tax holiday
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4-3: situation where a corporation does not pay corporate income taxes to a foreign government if it invests in their country
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tax-deferred income
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20-3: income that will be taxed at a later date
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tax-exempt income
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20-3: income not subject to tax
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telecommuting
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9-1: using a computer and other technology to work at home instead of in a company office or factory
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telemarketing
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19-3: the selling of products during telephone calls to prospective customers
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test market
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17-2: an experimental research study that measures the likely success of a new good or service
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third-country nationals
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11-1: expatriates from countries other than the home country of their company or the host country
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total quality control (TQC)
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15-2: a work approach that requires every employee to take responsibility for high-quality products
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totalitarian system
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4-1: a government system in which political control is held by one person or small group of people
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trade barriers
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1-2: restrictions that reduce fre trade among countries
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trade credit
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7-3: buying or selling on account
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trade deficit
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6-3: the total amount a country owes to other countries as a result of importing more goods and services than the country is exporting
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trade embargo
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4-2: a sanction imposed by a country against another country that stops all import-export trade with that country
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trademark
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8-2: a distinctive name, symbol, word, picture, or combination of these that is used by a business to identify its services or products
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transformation
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15-1: the use of resources to create a good or service
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union representation election
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13-2: a procedure held to find out if the workers in a workplace really want to become union members
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union shop
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13-2: a workplace in which all workers must pay either union dues or a fee
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unlimited liability
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5-1: the situation in which a business owner's personal assects can be uses to pay any debts of the business that are unpaid
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validity
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14-2: the extent to which the data measures what the user expects it to measure
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value-added tax (VAT)
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4-2: a tax assessed on the increase in value of goods from each stage of production to final consumption
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varriable costs
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9-3: business expenses that change in proportion to the level of production
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visa
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12-2: a stamp of endorsement issued by a country that llows a passport holder to enter that country
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wholesaler
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18-2: a business that buys large quantities of an item and resells them to a retailer
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wholly-owned subsidiary
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5-3: an independent company owned by a parent company
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work visa (work permit)
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12-2: a document that allows a person into a foreign country for the purpose of employment
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World Bank
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7-2: a bank whose major function is to provide economic assistance to less-developed countries
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