Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
20 Cards in this Set
- Front
- Back
|
totalitarian
|
govt. system where one family maintains complete and economic control
|
|
|
Dictatorship
|
a political and economic system operated by a ruler with absolute power or authority
|
|
|
Government Subsidy
|
payment from a govt. to a business to defray business costs
(ex: farmers paid not to grow certain crop) |
|
|
Politics
|
methods or tactics involved in managing an organization, business, state, or govt.
|
|
|
A Govt. Subsidy is a
|
REVERSE TAX
|
|
|
Production Subsidies
|
Govt. gives gift of money to firms to defray costs of production
-negative trade tax -regarded by GATT 1944 as unfair competition |
|
|
1960s
|
-Kenney Trade Negotiations
-GATT Anti-dumping Agreement |
|
|
Dumping
|
selling a product in another country at less than the price it is sold in the home country, or less than it costs to produce
|
|
|
Import Surge caused by
|
Dumping
|
|
|
Import Surge
|
-unexpected flood of imports
-causes dramatic drop in sales for domestic companies |
|
|
Countervailing Duties
|
type of tariff designed to counteract subsidies and dumping
|
|
|
Red Tape
|
-chief obstacle to poor countries
*Pointless regulations that foster graft -incentive to bribe officials |
|
|
Ex. of Red Tape
|
-In Haiti it takes 203 days to register new company
-In Australia it takes 2 |
|
|
Lobbying
|
process of influencing the formation of legislation and administration or rules, regulations, and policies
|
|
|
Lobbyists
|
paid professionals who who carry the message of their employers to influence formation or administration of legislation
|
|
|
Labor Unions
|
bargain with employers on behalf of workers about terms and conditions of employment
|
|
|
Trade Association
|
non-profit organization formed to serve the common needs of its members
|
|
|
Item 807
|
allowed garments cut in the US to be exported and assembled and then imported with tariff based only on value added
-Denim -Carribean countries |
|
|
Yarn Forward Rule
|
NAFTA made in 1994, to qualify for free trade yarns as well as fabrics have to be produced in Canada, Mexico, or the United States
|
|
|
Trading Blocs
|
1)Europe and European Regions
2)the Americas and Caribbean 3)Asia and Oceania 4)The Middle East and Africa *Each region includes a combination of developed and developing countries |
