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37 Cards in this Set
- Front
- Back
Joint Venture |
The sharing of the coat and operating of a business between a foreign company and a local partner. |
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Association of Southeast Asian Nations (ASEAN)
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A trade alliance that promotes trade and economic integration among member nations in Southeast Asia. |
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Countertrade Agreements |
Foreign trade agreements that involves bartering products for other products instead of for currency. |
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International Monetary Fund (IMF) |
Organization established in 1947 to promotes trades among member nations by eliminating trade barriers and fostering financial cooperation. |
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Franchising |
A form of licensing in which a company (the franchiser) agrees to provide a franchisee a name, logo, method of operation, advertising, products and other elements associated with a franchisers business in return for a financial commitment and the agreement to conduct business in accordance with the franchisers standards of operations. |
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Licensing |
A trade agreement in which one company (the licensor) allows another company (the licensee) to use the company name, products, patent, brands, trademark, and raw materials, in exchange for a fee or royalty. |
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Quota |
A restriction on the number of units of a particular products that can be imported into a country. |
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Trade Deficit |
A nations negative balance of trade, which exist when the country imports more than it exports. |
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Asia-Pacific Economics Cooperations (APEC) |
an international trade alliance that promotes open trade and economic and technical cooperation among member nations. |
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Exchange Rate |
The ratio which one nations currency can be exchanged for another nations currency. |
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North American Free Trade Agreement (NAFTA) |
Agreement that eliminates most tariffs and trade restrictions on agricultural and manufactured products to encourage trade among Canada, the United States, and Mexico. Has been controversial, but has created new business opportunities with fewer barriers than before. |
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Import Tariff |
A tax levied by a nations on goods imported into the country. |
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World Trade Organization (WTO) |
International organization dealing with the rules of trade between nations. |
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Direct Investment |
The ownership of overseas facilities. |
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Embargo |
A prohibition on trade in a particular product. |
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Strategic Alliance |
A partnership formed to create competitive advantage on a worldwide basis, |
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International Business |
The buying, selling, and trading of goods and services across national boundaries. |
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Outsourcing |
The transferring of manufacturing or other task----such as data processing----to countries where labor and supplies are less expensive. |
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Dumping |
The act of a county or business selling products at less than what it costs to produce it. |
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Contract Manufacturing |
The hiring of a foreign company to produce a specified volume of the initiating company's product to specification; the final product carries the domestic firms name. |
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Exchange Controls |
Regulations that that restrict the amount of currency that can be bought or sold. |
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World Bank
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(International Bank for Reconstruction and Development) |
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Balance of Payments |
The difference between the flow of money into and out of a country. |
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Infrastructure |
The physical facilities that supports a country's economic activities. |
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Absolute Advantage |
A monopoly that exists when country is the only source of an item, the only producer of an item, or the most efficient producer of an item. |
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Offshoring |
The relocation of business processes by a company or subsidiary to another country. Offshoring is different than outsourcing because the company retains control of the offshored processes. |
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Multinational Corportarion |
A corporation that operates on a worldwide scales, without significant ties any one nation or region. |
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Multinational Strategy |
A plan used by international companies, that involves customizing products, promotion and distribution according to cultural, technological, regional, and national differences. |
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European Union (EU) |
A union of European nations established in 1959 to promotes trade among its members. |
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Trading company |
A firm that buys goods in one country and sells them to buyers in another country. |
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Global Strategy (Globalization) |
A strategy that involves standardizing products for whole world as if it were a single entity. |
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Importing |
The purchase of goods and services from foreign sources. |
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Comparative Advantage |
The basis of the most international trade. |
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Balance of Trade |
The differences in value between a nations exports and its imports. |
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Exproting |
The sale of goods and services to foreign markets. |
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Cartel |
A group of firms or nations that agrees to act as a monopoly and not compete with each other, in order to generate a competitive advantage in world markets |
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General Agreement on Tariffs and Trade (GATT) |
A trade agreement, originally signed by 23 nations in 1947, that provides a forum for tariff negotiations and a place where international trade problems could be discussed and resolved. |