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47 Cards in this Set
- Front
- Back
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Domestic Business |
A company that conducts its affairs in its home country. A domestic corporation is often taxed differently than a foreign corporation.
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International Business |
International business is defined as commercial transactions that occur across country borders.
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Global Dependency |
It refers to the inter dependency of countries to each other in relation to monetary considerations, production and raw materials.
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Culure |
The accepted behaviors, customs, and values of a society or a system of learned, shared , unifying, and inter-related beliefs,values, and assumptions. |
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Exports |
Send (goods or services) to another country for sale.
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Imports |
Bring (goods or services) into a country from abroad for sale.
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Trade Barriers |
Measures that governments or public authorities introduce to make imported goods or services less competitive than locally produced goods and services. Not everything that prevents or restricts trade can be characterized as a trade barrier.
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Absolute Advantage |
The ability of an individual or group to carry out a particular economic activity more efficiently than another individual or group.
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Balance Of Trade |
The difference in value between a country's imports and exports.
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Comparative Advantage |
The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.
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Consumer Price Index |
An index of the variation in prices paid by typical consumers for retail goods and other items.
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Economics |
The branch of knowledge concerned with the production, consumption, and transfer of wealth.
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Economic System |
System of production and exchange of goods and services as well as allocation of resources in a society.
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Factors of Production |
An economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic profit.
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Foreign Debt |
An outstanding loan that one country owes to another country or institutions within that country.
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Gross Domestic Products (GDP) |
Is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
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Gross National Products (GNP) |
Is the market value of all the product sand services produced in one year by labor and property supplied by the citizens of a country.
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Infrastructure |
The basic physical and organizational structures and facilities.
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Privatization |
Is the process of transferring an enterprise or industry from the public sector to the private sector.
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Scarcity |
The state of being scarce or in short supply; shortage.
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Supply |
A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
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Body Language |
The process of communicating nonverbally through conscious or unconscious gestures and movements.
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Class System |
Is the stratification that facilitates social mobility, with individual achievement and personal merit determining social rank.
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Collectivism |
The practice or principle of giving a group priority over each individual in it.
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Cultural Baggage |
Tendency for one's culture to pervade thinking, speech, and behavior without one being aware of this perversion.
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Cultural Shock |
Is the personal disorientation a person may feel when experiencing an unfamiliar way of life due to immigration or a visit to a new country, a move between social environments, or simply travel to another type of life.
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Ethnocentrism |
Evaluation of other cultures according to preconceptions originating in the standards and customs of one's own culture.
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Extended Family |
A family that extends beyond the nuclear family, including grandparents, aunts, uncles, and other relatives, who all live nearby or in one household.
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Individualism |
The habit or principle of being independent and self-reliant.
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Nonverbal Communication |
Includes apparent behaviors such as facial expressions, eyes, touching, and tone of voice, as well as less obvious messages such as dress, posture and spatial distance between two or more people.
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Nuclear Family |
A couple and their dependent children, regarded as a basic social unit.
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Subculture |
A cultural group within a larger culture, often having beliefs or interests at variance with those of the larger culture.
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Boycott |
Withdraw from commercial or social relations with (a country, organization, or person) as a punishment or protest.
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Common Market |
A group of countries imposing few or no duties on trade with one another and a common tariff on trade with other countries.
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Democracy |
A system of government by the whole population or all the eligible members of a state, typically through elected representatives.
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Economic Nationalism |
Is a body of policies that emphasize domestic control of the economy, labor, and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labor, goods and capital.
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Expropriation |
The act of taking of privately owned property by a government to be used for the benefit of the public.
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Free trade Agreement |
Mexico, Canada and the United States to eliminate most tariffs on trade between these nations.
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Free trade zone |
Is a specific class of special economic zone. They are a geographic area where goods may be landed, handled, manufactured or reconfigured, and reexported without the intervention of the customs authorities.
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Home country |
The country in which a person was born and usually raised, regardless of the present country of residence and citizenship .
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Host country |
A country where a company that is based in another country has business activities.
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(MFN) Status |
A country grants this clause to another nation if it is interested in increasing trade with that country.
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Political System |
A system of politics and government. It is usually compared to the legal system, economic system, cultural system, and other social systems.
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Protectionaism |
The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
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Quote |
Repeat or copy out (a group of words from a text or speech), typically with an indication that one is not the original author or speaker.
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Tax Holiday |
A temporary reduction or elimination of a tax. It is synonymous with tax abatement, tax subsidy or tax reduction. Governments usually create tax holidays as incentives for business investment.
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Trade Embargo |
Hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally "distrait" in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country or a group of countries.
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