4.1 Vocab
4.2 Vocab
International Trade
Global Marketplace
Misc.
100
Government's establishment of economic policies that systematically restrict imports in order to protect domestic industries
What is Protectionism
100
Selling the same product and using the same promotion methods in all countries.
What is Globalization
100
The limiting of either the quantity or the monetary value of a product that may be imported
What is a Quota
100
Allowing another country to use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty
What is Licensing
100
The three basic types of trade barriers
What is Quotas, Tariffs, and Embargoes
200
A coalition of nations that makes rules governing international trade
What is the World Trade Organization (WTO)
200
A business enterprise that companies set up together
What is a Joint Venture
200
The difference in value between exports and imports of a nation
What is Balance of Trade
200
Large corporations that have operations in several countries.
What is Multinationals
200
Identify a political factor that a business should consider when deciding to become involved in international business.
What is Type of Government, Government Stability, Trade Agreements, and Foreign Investment Opportunities. (only need 1 for full points)
300
Total ban on specific goods coming into and leaving a country
What is an Embargo
300
A company's use of an existing product and/or promotion to which changes are made to better suit the characteristics of a country or region
What is Adaptation
300
The possession of unique resources and capabilities that allow one nation to sell their goods and services to another nation who does not produce or manufacture those products.
What is Interdependence of Nations
300
Midsize or smaller companies that have operations in foreign countries
What is Mini-nationals
300
Three significant trade agreements and alliances
What is the World trade Organization, the North American Free Trade Agreement, and the European Union
400
A tax on imports
What is a Tariff
400
Creating specifically designed products or promotions for certain countries or regions
What is Customization
400
Two key reasons embargoes are imposed
What is Health Reasons and Political or Diplomatic Reasons
400
Establishment of a business in a foreign country
What is Foreign Direct Investment
400
The analyzing of political, economical, socio-cultural, and technological factors
What is Global Environmental Scan
500
The exchange of goods and services among nations
What is International trade
500
Hiring a foreign manufacturer to make your products, according to your specifications.
What is Contract Manufacturing
500
The number one trading partner of the United States
What is Canada
500
Government's stability, its trade regulations and agreements, and any other laws that impact a company's operation.
What is Political Factors
500
Two types of advantages in international trade
What is Comparative and Absolute
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