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10 Cards in this Set
- Front
- Back
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gross national income |
yardstick for the economic activity of a country, also know as GDP |
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purchasing power parity |
to account for differences in the cost of living, one can adjust GNI per capita by purcahsing power. It allows a more direct comparison of living standards in different countries |
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human development index |
to measure quality of human life in different nations |
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innovation |
include not just new products but also new processes, new organizations, new management practices, and new strategies |
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entrepreneurs |
first commercialize innovative new porducts and processes, and entrepreneurial activity provides much of the dynamism in an economy |
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first mover advamtages |
advantages that accrue to early entrants inot a market |
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late mover disadvantages |
are the handicaps that late entrants might suffer |
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political risk |
the likelihood that political forces will cause drastic changes in a country's business environment that adversely affect the profit nad other goals of a business enterprise |
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economic risk |
can be defined as the likelihood that economic mismanagement will cause drastic changes in a country's business environment that hurt the profit and other goals of a particular business enterprise |
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legal risk |
can be defined as the likelihood that a trading partner will opportunistically break a contract or expropriate property rights |
