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Details Title: vocab Description: words Total Flash Cards: 17 Created: 09/11/2006 22:55:25	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term Multinational corporation Definition A business that has operations in many different countrys around the world Term Ethnocentricity Definition Most familiar with your own country, most comfortable working in it Term Exchange rate Definition How much of one country's currency is equal to another country's Term High value of the dollar Definition Can buy more foreign currency Term Low value of the dollar Definition My dollar buys less foreign currency than it did before Term Devaluation Definition the actual lowering of the value of the currency Term Countertrading Definition When a country pays for their purchase with goods and services instead of with money Term The foreign corrupt practices act Definition American law, prevents US companies from paying bribes to foreign customers for their business Term Trade protectionism Definition Countries try to make it hard to buy from forign countries, and encourage buying locally Term Tariff Definition Tax on imports Term Import quota Definition Limit on the amount that can be imported from another country Term Non-tariff barriers Definition Anything else used to protect your market Term The world trade organization (WTO) Definition International organization, supposed to sponsor trade meetings for countries. Also settles disputes Term Trading bloc Definition A group of countries that have linked together for trade purposes Term The european union Definition 25 countries in europe Term Mercosur Definition Countries in south america Term North american Free trade agreement Definition Canada, US, and Mexico