International Business - Chapter 1

Front 1

international business

Back 1

any commerical transaction that crosses the borders of two or more nations.

Front 2

imports

Back 2

goods and services brought into a country that are acquired from organizations located abroad.

Front 3

exports

Back 3

goods and services produced or based in one country that are sold abroad.

Front 4

e-business

Back 4

the use of computer networks or purchase, sell or exchange goods and services, service customers, collaborate with partners, and transact within a company.

Front 5

globalization

Back 5

the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

Front 6

General Agreement on Tariffs and Trade (GATT)

Back 6

a treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.

Front 7

WTO

Back 7

the international organization that regulates trade between nations.

Front 8

GDP

Back 8

the value of all goods and services produced by a domestic economy over a one-year period.

Front 9

GNP

Back 9

the value of all goods and services produced by a country during a one-year period, including income generated by both domestic production and the country's international activities.

Front 10

GDP or GNP per capita

Back 10

GDP or GNP divided by its population.

Front 11

world bank

Back 11

an agency created to provide financing for national economic development efforts.

Front 12

International Monetary Fund (IMF)

Back 12

an agency created to regulate fixed exchange rates and enforce the rules of the international monetary system.

Front 13

multinational corporation (MNC)

Back 13

a business that has direct investments abroad in multiple countries.

Front 14

born-global firm

Back 14

a company that takes on a global perspective on its market and engages in international business from or near its inception.