International Business
Terms
Ethics and social responsibility
Business and economics
Vocabulary
225

the total amount of money being transferred into and out of a business

cash flow

225

Being able to interact in the workplace.

communication

225

Principles and standards that determine acceptable conduct in business.

business ethics

225

the money a business has available to pay for day-to-day operations

Capital

225

A written description of a new businesses ventures that describes all aspects of the business.

business plan

300

The difference in value between a nation's imports and exports.

balance of trade

300

the state of being responsible for something

liability

300

Choosing between the welfare of the organization and the individual's advancement of personal interests.

conflict of interest

300

The primary goal of all businesses

to earn profit

300

A form of business organization defined as an association of two or more persons operating as co-owners.

Partnership

375

The basis of most international trade, when a country specializes in products that it can supply more efficiently or at a lower cost.

comparative advantage

375

Businesses owned and operated by one individual.

sole proprietorship

375

The act of exposing an employer's wrongdoing to outsiders.

whistleblowing

375

An economic system in which the government owns and operates basic industries but individuals own most businesses.

socialism

375

Rivalry among businesses.

competition

450

A monopoly that exists when a country is the only source of an item.

absolute advantage

450

The process of dealing with or controlling things or people

management

450

A business's obligation to maximize its positive impact and minimize its negative impact on society.

social responsibility

450

Something ( such as a service ) that is marketed or sold as a commodity

Product

450

Two companies combining to form a new company.

merger

525

Tax levied by a nation on goods imported into the country.

import tariff

525

The sale of goods and services to foreign markets

exporting

525

Formalized rules and standards that describe what a company is about.

company's code of ethics

525

The study of how resources are distributed for the production of goods and services within a social system

economics

525

A person who is willing to take the risk for their business

entrepreneur

M
e
n
u