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Culture
Economics of Trade
Vocabulary
Business Communication
International Trade
100
Non-verbal communication where facial expressions, body movements and gestures convey what is meant.
What is body language?
100
A centrally plnned economy where the government regulates amount, distribution and price of everything produced.
What is a command economy?
100
Geography, Economics, Politics and Culture.
What are the four pillars of international trade?
100
This term refers to how direct or indirect communication is.
What is contexting?
100
A country is said to have this when it can produce a good or service more efficiently than any other country.
What is absolute advantage?
200
A normal reaction to all the differences of another culture
What is culture shock?
200
Economies based on the forces of supply and demand, where individual companies an dconsumeres make the decisions about what items will be produced.
What are market economies?
200
A condition that exists when exports are greater than imports.
What is a trade surplus?
200
A type of culture that commnicates very indirectly and attaches little value to the literal meanings of words.
What is a high-context culture?
300
A set of ethics or guiding principles, positive and negative ideals, customs and institutions of a group.
What are values?
300
A blend of government involvement and private enterprise, also sometimes referred to as socialism.
What is a mixed economy?
300
This measures the output of goods that a country produces within its borders.
What is Gross Domestic Product?
300
A means of non verbal communication where a person is looking directly into the face of another person.
What is eye contact?
300
A country in which a company is a guest.
What is a host country?
400
Communication that does not involve the use of words.
What is non-verbal communication?
400
The method a country uses to answer the basic economic questions.
What is an economic system?
400
These are restrictions that reduce free trade.
What are trade barriers?
400
a limit on the total number, quantity or monetary amount of a product that can be imported.
What is a quota?
400
An agreement where members choose to eliminate duties and trade barriers on products traded among them.
What is a free-trade agreement?
500
The belief that one's culture is better than another.
What is ethnocentrism?
500
A country with little economic wealth and an emphasis on agriculture and mining.
What is a developing, or less developed country?
500
Products brought in from other countries are referred to as this.
What are imports?
500
An absolute restriction on the import of certain products from certain countries.
What is a boycott?
500
A situation in which a country specializes in the production of a good or service at which it is relatively more efficient.
What is comparative advantage?