Category 1
All citizens have the opportunity to take part in making the rules that govern them.
What is Democracy
A tax placed on products that are traded internationally.
What is a duty (or tariff)?
When a country stops all import-export trade with another country.
What is a trade embargo?
Why do governments collect taxes? (what do they use the money for)
What is to pay for welfare programs, to build roads and bridges, to provide health care insurance, and to support military forces?
A designated area, usually around a seaport or airport where products can be imported duty-free and then stored, assembled, and used in manufacturing.
What is a free-trade zone?
Most people are excluded from making the rules by which they live.
What is Totalitarianism?
A limit on the quantity or monetary amount of a product that can be imported from a given country.
What is a quota?
The possibility of government actions or political policies that could adversely affect foreign companies.
A tax assessed on imported products.
What is a customs duty (or import tax)?
When member countries agree to eliminate duties and trade barriers on products traded among members.
What is a free-trade agreement?
The means by which people in a society make the rules that control and influence their lives.
What is a Political System?
Government actions or policies that make it difficult to trade across borders.
What are trade barriers?
When a government takes control and ownership of foreign-owned assets and companies.
What is Expropriation?
A tax on the sale of products.
What is sales tax?
NAFTA
What is the North American Free Trade Agreement?
The country in which a multinational enterprise is a guest.
What is a host country?
A government policy of protecting local or domestic industries from foreign competition.
What is Protectionism?
What are 4 political risks that can seriously affect global business?
What are trade sanctions (embargos), expropriation, economic nationalism, and civil unrest or war?
A tax on the amount of money a person or corporation earns, minus allowable deductions and credits.
What is income tax?
What is a common market?
The country where a multinational enterprise is headquartered.
What is a home country?
When a government issues an absolute restriction on the import of certain products from certain countries.
What is a boycott?
The trend of some countries to restrict foreign ownership of companies and to establish laws that protect against foreign imports.
What is Economic Nationalism?
Money withheld from employee pay and taxes paid by the employer based on employee pay.
What is payroll- related tax?
An example of a common market.
What is the European Union?