Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/45

Click to flip

45 Cards in this Set

  • Front
  • Back
The income, expenditures, and resources that affect the cost of running a business and household are called an
economy
____ ____ refers to any firm that engages in international trade or investment.
International business
A long-lasting, sometimes permanent team in the organization structure created to deal with tasks that recur regularly is the
committee
___ refers to make an offer at an auction or at a judicial sale.
Bid
Generally, a legal right to engage in conduct that would otherwise result in legal liability is a ______. ______ are commonly classified as absolute or conditional. Occasionally, _____ is also used to denote a legal right to refrain from particular behavior.
privilege

Privileges

privilege
_____ refers to the total amount of money a business earns in a given period by selling goods and services. The value of what is received for goods sold, services rendered.
Revenue
______ refers to paid, nonpersonal communication through various media by organizations and individuals who are in some way identified in the _____ message.
Advertising

advertising
_____ is used in marketing, as a measure of how much the public sees a product or its advertising.
Visibility
In the common law, a _____ is a type of business structure in which partners share with each other the profits or losses of the business undertaking in which they have all invested.
partnership
_____ _____ refers to technology that helps companies change business by allowing them to use new methods.
Information technology
A permanent institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the _____ ____ _____.
World Trade Organization
_____ refers to the payment the issuer of the bond makes to the bondholders for use of the borrowed money. It is the return to capital achieved over time or as the result of an event.
Interest
The American Marketing Association suggests that _____ is "the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals."
Marketing
The technical sophistication of the product and hence the amount of understanding required to use it is referred to as _____. It is the opposite of _____.
complexity

simplicity
A transfer of property or some right or interest is referred to as _____.
assignment
An international organization created by multilateral treaty in 1945 to promote social and economic cooperation among nations and to protect human rights is the ______.
United Nations
A complete ban on the import or export of a certain product is an ____.
embargo
_____ is a set of companies [in Japan] with interlocking business relationships and shareholdings. It is a type of business group.
Keiretsu
What year did the Foreign Corrupt Practices Act pass?
1977
This theory suggests that a country should export those goods and services for which it is more productive than other countries are and import what it isn't.
theory of absolute advantage
Factor conditions, demand conditions, related and supporting industries, and firm strategy, structure and rivalry are elements of which theory?
national competitive advantage
This theory is based on the belief that a country will have a comparative advantage in producing products that intensively use resources it has in abundance.
theory of relative factor endowments
Ownership advantage, location advantage, internalization advantage are three conditions for which theory?
eclectic theory
This law was passed to prohibit firms from bribing foreign government officials in order to influence actions or policies that would help them retain or gain business.
Foreign Corrupt Practices Act
What is the main purpose of the Multilateral Investment Guarantee Agency?
To offer investors in developing countries insurance against noncommercial risks.
This records international transactions and supplies vital information about the health of a national economy and likely changes in its fiscal and monetary policies.
balance of payments
Which four major accounts make up the Balance of Payments Accounting System?
current, capital, official reserves, errors & omissions
The sterling-based gold standard collapsed after this major event.
World War I
Which four transactions are part of the BOP's current accounts?
exports & imports of goods, exports & imports of services, income investments, unilateral transfers
The World Bank developed the International Development Association for what main purpose?
To issue soft loans
Which of the following accurately portrays the BOP?
current account + capital account + official reserves account + errors & omissions = 0
This U.S. action was designed to deal with the economic crisis of the OPEC oil embargo stressed the importance of debt rescheduling, tight IMF-imposed controls over domestic monetary and fiscal policies.
Baker Plan
Which of the following are the top 3 members of the World Bank Group?
Japan, USA, and Germany
BOP's official reserves account is comprised of which four types of assets?
gold, reserve positions at the IMF, SDRs, convertible currencies.

special drawing rights (SDRs): credits granted by the IMF that can be used to settle transactions among central banks; also called paper gold.
This section of the 1974 Trade Act requires U.S. trade representatives to list those countries engaging in the most flagrant unfair trade practices.
Section 301
What is the motto for the European Union?
United in diversity
This is the official value of currency in terms of gold.
par value
What determines a country's voting power within the IMF.
Its quota
In which type of foreign-exchange transaction are the amount of the transaction and the future delivery date both fixed?
currency future
What is the motto for the European Union?
United in diversity
CH 20: Staffing Philosophy

What three groups can a MNC hire from?
parent company nationals, host country nationals, and third country nationals.
CH 20: Staffing Philosophy

What advantages do parent country nationals (PCNs) provide MCNs in foreign operations?
...they facilitate communication and coordination w/corporate hdqtrs.

Often are also best for grafting new home market technologies or business techniques to a foreign market.
CH 20: Staffing Philosophy

Disadvantages of PCNs?
PCNs typically lack knowledge of the host country's laws, culture, economic condition, social structure, and political processes.

Further, PCNs are expensive to relocate and maintain in the host country.

Finally, many host countries restrict the number of foreign employees who can be transferred in.

Because of these factor, PCNs are most likely to be used in upper-level and/or technical positions in host countries.
CH 20: Staffing Philosophy

These types of workers are residents of the international business's home country.
Parent country nationals (PCNs)
CH 20: Staffing Philosophy

What type of employees are commonly used by international businesses to fill middle-level and lower-level jobs, but they also often appear in managerial and professional positions?
Host country nationals (HCNs), who are residents of the host country.