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Bradley University International Business 206 Final
Final Exam Note Cards
7
Business
Undergraduate 2
12/12/2011

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Term
Regional economic integration
Definition
agreements between countries in a geographic region to reduce tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other
Term
Free Trade Area
Definition
Eliminates trade barriers between members(NAFTA)
Term
Customs Union
Definition
common external trade policy (ANDEAN Pact)
Term
Common Market
Definition
free movement of capital and labor(MERCOSUR)
Term
Economic Union
Definition
common currency, monetary policy, harmonized tax and fiscal policy
Term
Political Union
Definition
common government(United States)
Term
Market Segmentation
Definition
involves identifying distinct groups of consumers whose purchasing behavior differs from others
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