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;
14 Cards in this Set
- Front
- Back
globalization
|
refers to the shift toward a more integrated and interdependent world economy
|
|
globalization of markets
|
refers to the merging of histoircally distinct and separate national markets into one huge global marketplace
|
|
globalization of production
|
refers to the sourcing of goods and services from locations around the glboe to take advantage of national differences in the cost and quality of factors of production
|
|
General Agreemtn on Tariffs and Trade (GATT)
|
global institution created to help manage, regulate, and police the global marketplace, and to promote the establishment of multinational treaties to govern the global business system
|
|
World Trade Organization
|
primarily responsible for policing the world trading sstem and making sure nation-states adhere to the rules laid down in trade treaties signed by WTO member states
|
|
International Monetary Fund
|
created in 1944 by 44 nations, task to maintain order in the international monetary system, lender of last resort to nation-states whose economies are in turmoil and currencies are losing value, requires nation-states to adopt specific economic policies aimed at returning their troubled economies to stability and growth
|
|
World Bank
|
created in 1944 by 44 nations, task to promote economic development, less controversial of the two, has focused on making low-interest-rate loans to cash-strapped governments in poor nations that wish to undertake significant infrastructure investments
|
|
United Nations
|
established October 24, 1945 by 51 countries committed to preserving peace through international cooperation and collective security, membership now 191 countries, has four purposes
|
|
international trade
|
occurs when a firm exports goods or services to consumers in another country
|
|
foreign direct investment
|
occurs when a firm invests resources in business activities outside its home country (starbucks)
|
|
Moore's law
|
predicts that the power of the microprocessor technology doubles and its cost of production falls in half every 18 months
|
|
stock of foreign direct investment
|
refers to the toal cumulative value of foreign investments
|
|
multinational enterprise
|
any business that has productive activities in two or more countries
|
|
international business
|
any firm that engages in international trade or investment
|