International Business Final

Front 1

international business?

Back 1

transactions that cross the border of two or more nations

Front 2

imports?

Back 2

goods and services brought into a country that come from org's abroad

Front 3

exports?

Back 3

goods and services produced and sold abroad

Front 4

e-commerce?

Back 4

use of computer networks to purchase, sell, or exchange goods and services

Front 5

globalization?

Back 5

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

Front 6

general agreeement on tariffs and trade?

Back 6

treaty designed to promote free trade

Front 7

world trade organization?

Back 7

regulates trade between nations

Front 8

GDP?

Back 8

value of goods and services produced by a country's economy over 1 yr

Front 9

GDP per capita?

Back 9

nations GDP divided by its population

Front 10

international monetary fund?

Back 10

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

Front 11

multinational corporation?

Back 11

business that has direct investment abroad in in multiple countries

Front 12

born-global firm?

Back 12

company that takes a global perspective on its market and engages in international business

Front 13

culture?

Back 13

set of values, beliefes, norms, and institutions held by a specific group of ppl

Front 14

ethnocentricity?

Back 14

belife that ones own ethnic group is superior to others

Front 15

cultural literacy?

Back 15

knowledge about a culture that allows a prsn to function effectively in it

Front 16

subculture?

Back 16

group of ppl who share a unique way of life w/i a larger dominant culture

Front 17

aesthetics?

Back 17

what a culture considers good taste in the arts

Front 18

values?

Back 18

ideas, beliefes, and customs to which ppl are emotionally attached

Front 19

attitudes?

Back 19

postitive/negative evaluations, feelings and tendencies indvs harbor toward objects

Front 20

cultural trait?

Back 20

anything that represents a cultures way of life

Front 21

cultural diffusion?

Back 21

cultural traits spread from one culture to another

Front 22

cultral imperialism?

Back 22

replacement of one cultures tradions for another

Front 23

manners?

Back 23

appropriate ways of behaving in a culture

Front 24

customs?

Back 24

ways of behaving in specific circumstances that are passed down thru generations

Front 25

folk custom?

Back 25

behavior that is practiced by a homogeneious group

Front 26

popular custom?

Back 26

behavior shared by a heterogeneous group

Front 27

social structure

Back 27

cultures fundamental organization, including grops and institutions

Front 28

social group?

Back 28

2/more ppl who identify and interact w/ eachother

Front 29

social stratification?

Back 29

process of ranking ppl into classes

Front 30

social mobility?

Back 30

ease in which indvs can move up or down a social ladder

Front 31

caste system?

Back 31

ppl are born into social ranking w/ no opportnity for social mobility

Front 32

class system?

Back 32

prsnl ability and actions determine social status and mobility

Front 33

lingua franca?

Back 33

link language that is understood by 2 parties who speak different languages

Front 34

body language?

Back 34

language communicated thru unspoken cues

Front 35

brain drain?

Back 35

dept of highly educated ppl from on profession, region, or nation to another

Front 36

topography?

Back 36

physical features that characterize the surface of a geographic region

Front 37

material culture?

Back 37

technology used in a culture to manufacture goods and services

Front 38

political system?

Back 38

structures, processes, and activities by which a nation governs itself

Front 39

democracy?

Back 39

gov leaders are elected directly by wide participation of ppl or their representatives

Front 40

representative democracy?

Back 40

citizens elect indvs from there groups to represent there political views

Front 41

private sector?

Back 41

segment of economic environment comprising independently owned firms that exist to make profit

Front 42

totalitarian system?

Back 42

political system in which indvs govern w/o the support of the ppl

Front 43

theocracy?

Back 43

political system in which religous leaders govern w/o the support of the ppl

Front 44

secular totolitarianism?

Back 44

political system in which leaders rely on military pwr

Front 45

communism?

Back 45

beliefe that social and economic equality can only be reached by establishing an all-pwrful communist party

Front 46

socialism?

Back 46

beliefe that social and economic equality is obtained by gov ownership and regulation of production

Front 47

capitalism?

Back 47

beliefe that ownership by means of production belongs in the hands of indvs and orivate businesses

Front 48

political risk?

Back 48

likely hood that a gov will undergo political changes that will negatively affect bussiness

Front 49

confiscation?

Back 49

forced trasfer of assets from Co to gov w/o compensation

Front 50

expropriation?

Back 50

forced transfer of assest from Co to gov w/ compensation

Front 51

nationalization?

Back 51

gov taking over an entire industry

Front 52

lobbying?

Back 52

policy of hiring ppl to represent co's views on political matters`

Front 53

nationalism?

Back 53

devotion of ppl to their nations interest and advancements

Front 54

common law?

Back 54

legal systembased on country's legal history

Front 55

civil law?

Back 55

legal system based on written rules and statutes

Front 56

property rights?

Back 56

legal rights to resources and ne income they generate

Front 57

industrial property?

Back 57

patents and trademarks

Front 58

trademark?

Back 58

property right in the form of words and symbols

Front 59

copyright?

Back 59

property right giving creators of original works the freedom to publish or dispose of as they choose

Front 60

product liability?

Back 60

responsibility of manufacturers 4 damage/injury caused by defective products

Front 61

antitrust laws?

Back 61

laws to prevent Co's from fixing prices and gaining unfair monopoly advantages

Front 62

economic system?

Back 62

structure and process a country uses to allocate its resources

Front 63

mixed economy?

Back 63

economic system in which land, factories, and other resources are split equally b/t private and gov ownership

Front 64

market economy?

Back 64

economic system in which the majority of the nations land, factories, or other resources are privately owned

Front 65

supply

Back 65

how much suppliers are willing to sell

Front 66

demand?

Back 66

how much buyers are willing to buy

Front 67

purchasing pwr?

Back 67

value of goods and services that can be purchased with one unit of currency

Front 68

developing countries?

Back 68

nation that has a poor infrastructure and extremely low prsnl incomes

Front 69

foreign direct investment?

Back 69

significant amt of ownership of stock of a Co in another country to gain management control

Front 70

balance of payments?

Back 70

national accounting system that records all payments to entities in other countries

Front 71

current account surplus?

Back 71

when countries export more goods and services and recieves more income from abroad than it imports and pays abroad

Front 72

capital account?

Back 72

national account that records transactions involving the sale of assets