Trade Barriers, Agreements, and Alliances
In 1989, the US government imposed this and stopped Chilean grapes from entering our country since they were found to be poisonous due to the pesticide being used.
Embargo
Exchange between nations without restrictive regulations or rules
Free Trade
A business enterprise that two countries set up together sharing profits
Joint Venture
Selling the same product without any changes in several different countries
Globalization
Another term for a duty or tax is called a:
Tarriff
China produces over 90% of the world’s silk, which in economic terms is called a domestic advantage.
Absolute Advantage
___________________________________ are small companies such as BMW, that have operations in several countries.
Mininational
Changing the promotion of a Coca Cola commercial to include scenery and famous monuments in Egypt is an example of which global marketing strategy?
Promotion Adaptation
The economic policy that restricts imports in order to protect domestic industries is called _____
Protectionism
Negative
Viacom Inc. which owns CBS, Nickelodeon, and MTV shares profit with a media group in Shanghai. This is an example of a ________________ _________________.
Joint Venture
KFC creates totally new menu items to suite their target market in different countries. This is an example of which global marketing strategy?
Customization
The trading block that includes France, Italy, Belgium, and Spain is called the _____________________.
European Union
If you need to export your goods to another country and need help following the laws, tariffs, etc. who should you hire to help you?
Freight Forwarder
Large corporations that have operations in several countries
Multinationals
What are 2 of the 4 factors you should consider before setting up a foreign direct investment?
Cultural
Technology
Political
Economic
The __________________________________ is a coalition of over 140 different countries that makes rules governing international trade.
World Trade Organization
Name 2 of the 4 groups that benefit from international trade.
Consumers
Producers
Workers
Nation
Nike outsourcing their products to be made in Vietnam is an example of_______.
Contract Manufacturing
Tide taking out the softeners in their laundry detergent for their market in India is an example of what global marketing strategy
Product Adaptation