International Business
the total amount of money being transferred into and out of a business
cash flow
Being able to interact in the workplace.
communication
Principles and standards that determine acceptable conduct in business.
business ethics
the money a business has available to pay for day-to-day operations
Capital
A written description of a new businesses ventures that describes all aspects of the business.
business plan
The difference in value between a nation's imports and exports.
balance of trade
the state of being responsible for something
liability
Choosing between the welfare of the organization and the individual's advancement of personal interests.
conflict of interest
The primary goal of all businesses
to earn profit
A form of business organization defined as an association of two or more persons operating as co-owners.
Partnership
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
Businesses owned and operated by one individual.
sole proprietorship
The act of exposing an employer's wrongdoing to outsiders.
whistleblowing
An economic system in which the government owns and operates basic industries but individuals own most businesses.
socialism
Rivalry among businesses.
competition
A monopoly that exists when a country is the only source of an item.
absolute advantage
The process of dealing with or controlling things or people
management
A business's obligation to maximize its positive impact and minimize its negative impact on society.
social responsibility
Something ( such as a service ) that is marketed or sold as a commodity
Product
Two companies combining to form a new company.
merger
Tax levied by a nation on goods imported into the country.
import tariff
The sale of goods and services to foreign markets
exporting
Formalized rules and standards that describe what a company is about.
company's code of ethics
The study of how resources are distributed for the production of goods and services within a social system
economics
A person who is willing to take the risk for their business
entrepreneur