Term
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Definition
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Commercial transaction that crosses the borders of two or more nations.
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Term
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Definition
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Goods and services brought into a country that are acquired from organizations located abroad.
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Term
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Definition
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Goods and services produced or based in one country that are sold abroad.
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Term
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Definition
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Use of computer networks to purchase, sell, or exchange goods and services, service customers, collaborate with partners, and transact within a company.
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Term
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Definition
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Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
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Treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.
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Term
| World Trade Organization (WTO) |
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Definition
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International organization that regulates trade between nations.
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Term
| Gross Domestic Product (GDP) |
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Definition
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Value of all goods and services produced by a country's domestic economy over a one-year period.
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Term
| Gross National Product (GNP) |
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Definition
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value of all goods and services produced by a country during a one-year period, including income generated by both domestic and international activities.
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Term
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Definition
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Nation's GDP or GNP divided by its population.
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Definition
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Agency created to provide financing for national economic development efforts.
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Term
| International Monetary Fund (IMF) |
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Definition
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Agency created to regulate fixed exchange rates and enforce the rules of the international monetary system.
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Term
| Multinational Corporation (MNC) |
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Definition
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Business that has direct investments abroad in multiple countries.
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Term
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Definition
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Company that takes a global perspective on its market and engages in international business from or near its inception.
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