Term
| Asia-Pacific Economic Cooperation (APEC) |
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Definition
| An international trade alliance that promotes open trade and economic and technical cooperation among member nations |
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| A monopoly that exists when a country is the only source of an item, the only producer of the item, anor the most efficient |
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| The differnece b/t the flow of money in and out of a country |
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| The difference in value b/t the nations's exports and imports |
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| A group of firms or nations that agrees to act as a monopoly and not compete with each other, to generate a competitive advantage in world markets |
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| The basis of most international trade, when a country specializes in products that it can supply more efficiently or at a lower cost than it can produce other items |
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| The hiring of a foreign company to produce a specified volume of hte initiating company's product to specification; the final product carries the domestic firms name |
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| Foreign trada agreements the involve bartering products for other products instead of currency |
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| The ownership of overseas facilities |
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| The act of a country or business selling products at less than what it costs to produce them |
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| A prohibition on trade in a specific product |
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| A union of European nations established in 1958 to promote trade among its members |
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| Regulations that restrict the amt of currency that can be bought or sold in a nation |
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| The ratio at which one's nation's currency can be exchanged for another nation's currency |
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| The sale of goods and services to foreign markets |
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| A form of licensing in which a company--the franchiser-- agrees to provide a franchisee a name, logo, methods of operation, advertising, productts,a nd other elements associated with the business, in return for a financial commitment and the agreement to condicuct business in accordance with the franchiser's standard of operations |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| An international trade agreement that provided a forum for tariff negotia |
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Term
| global strategy (globalization) |
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Definition
| A strategy that involves standardizing products, and as much as possible, their promotion and distribution for hte whole world, as if it were a single entity |
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| A tax levied by a nationon goods imported into the country |
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| The purchase of goods and services from foreign sources |
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| The physical ficilities that support a country's economic activites, such as railroads, highways, ports, airfields, utilities and power plants, schools, hospitals, communication systems, and commercial distribution systems |
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Definition
| The buying, selling, and trading of goods and services across national boundaries |
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Term
| International Monetary Fund (IMF) |
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Definition
| An organization established in 1947 to promote trade among member nations by eliminating trade barriers and fostering financial cooperation |
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Definition
| The sharing of the costs and operation of a business b/t a foreign company and a local partner |
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| A trade arrangement in which one company- the licensor- allows another company- the licensee- t use its company name, products, patnets, brands, trademarks, raw materials, and/or production processes in exchange for a fee or royalty |
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Term
| multinational corporation |
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Definition
| A corporation that operates on a worldwide scale, w/o significant ties to any one nation or region |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| An agreement that eliminates most tariffs and trade restrictions on agricultural and manufactured products to encourage trade among Canda, US, and Mexico |
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Definition
| The transferring of manufacturing or other tasks to countries where labr and supplies are less expensive |
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| A resriction on the number of units of a particular product that can be imported into a country |
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| A partnership formed to create competitive advantage on a worldwide basis |
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| A nation's negative balance of trade, which exists when that country imports more products than it exports |
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| A firm that buys goods in one country and sells them to buyers in another country |
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| An organization establised byt hte industrialized nationsin 1947 to loan money to underdeveloped and developing countries |
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Term
| World Trade Organization (WTO) |
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Definition
| International organization dealing w/the rules of trade b/t nations |
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