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Definition
| The flow of goods and services among different countries--the value of all the exports and imports of the worlds nations |
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| A type of trade in which goods are paid for with other items instead of with cash. |
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| Apolicy adopted by a government to give domestic companies an advantage |
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| Limitations set by a government on the amount of a product allowed to enter or leave a country. |
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| A quota completely prohibiting specified goods from entering or leaving a country. |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| International treaty to reduce import tax levels and trade restrictions. |
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| World Trade Organization (WTO) |
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Definition
| An organizational that replaces GATT, the WTO sets trade rules for its member nations and mediates disputes between nations. |
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Definition
| Groups of countries that band together to promote trade among themselves and to make it easier for member nations to compete elsewhere. |
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| Gross Domestic Product (GDP) |
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Definition
| The total dollar value of goods and services produced by a nation within its borders in a year. |
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| Gross National Product (GNP) |
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Definition
| The value of all goods and services produces by a countries citizens or organizations, whether located within the country's borders or not. |
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Definition
| The quality of a country's distribution, financial, and communications systems. |
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| Level of Economic Development |
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Definition
| The broader economic picture of a country. |
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Definition
| An indicator of the average quality and quantity of goods and services consumed in a country. |
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Term
| Least Developed Country (LDC) |
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Definition
| A country at the lowest stage of economic development. |
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Definition
| Countries in which the economy is shifting its emphasis from agriculture to industy. |
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| A country that boasts sophisticated marketing systems, strong private enterprise, and bountiful market potential for many goods and services. |
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Definition
| The overall patterns of change in the economy--including periods of prosperity, recession, depression and recovery--that affect consumer and business purchasing power. |
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| Competitive Intelligence (CI) |
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Definition
| The process of gathering and analyzing publicly available information about rivals. |
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Definition
| The portion of income people have left over after paying for necessities such as housing, utilities, food, and clothing. |
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| When firms offering different products compete to satisfy the same consumer needs and wants. |
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Definition
| When firms offering similiar goods or services compete on the basis of their brands reputation or perceived benefits. |
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Definition
| A market situation in which one firm, the only supplier of a particular product, is able to control the price, quality, and supplu of that product. |
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Definition
| A market structure in which a relatively small number of sellers, each holding a substantial share of the market, compete in a market with many buyers. |
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Definition
| A market structure in which many firms, each having slightly different products, offer unique consumer benefits. |
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Definition
| A market structure in which many small sellers, all of whom offer similar products, are unable to have an impact on the quality, price, or supply of a product. |
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Definition
| Legal documentation granting an individual or firm exclusive rights to produce and sell a particular invention. |
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| A form of protectionism stipulating that a certain proportion of a product must consist of components supplied by industries in the host country or economic community. |
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Term
U.S. Generalized System of Preferences
(GSP) |
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Definition
| A program to promote economic growth in developing countries by allowing duty-free entry of goods into the U.S. |
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Definition
| Statistics that measure observable aspects of a population, including size, age, gender, ethnic group, income, education, occupation, and family structure. |
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Definition
| A societys deeply held beliefs about right and wrong ways to live. |
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Definition
| Cultures in which people subordinae their personal goals to those of a stable community. |
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| Cultures in which people tend toattach more importance to personal goals than to those of the larger community. |
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| Specific rules dictating what is right or wrong, acceptable or unacceptable. |
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| A norm handed down from the past that controls basic behaviors. |
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| Customs with a strong moral overtone. |
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| Norms regarding the conduct of everyday life. |
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| The tendency to prefer products or people of ones own culture. |
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| When someone voluntarily offers payment to get an illegal advantage. |
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| When someone in authority extracts payment under duress. |
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| Intermediaries a firm uses to represent it in other countries. |
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| An agreement in which one firm gives another firm the right to produce and market its product in a specific country or region in return for royalties. |
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Definition
| A form of licensing involving the right to adapt an entire system of doing business. |
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Definition
| Relationship developed between a firm seeking a deeper commitment to a foreign market and a domestic firm in the target country. |
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Definition
| A strategic alliance in which a new entity owned by two or more firms allows the partners to pool their resources for common goals. |
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Definition
| Companies that try to sell their products in multiple countries from the moment they're created. |
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Term
| Straight Extension Strategy |
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Definition
| Product strategy in which a firm offers the same product in both domestic and foriegn markets. |
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Term
| Product Adaption Strategy |
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Definition
| Product strategy in which a firm offers a similar but modified product in foreign markets. |
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| Product Invention Strategy |
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Definition
| Product strategy in which a firm develops a new product for foreign markets. |
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Definition
| Items manufactured outside a country and then imported without the consent of the trademark holder. |
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Term
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Definition
| A company tries to get a toehold in a foreign market by pricing its products lower than it offers them at home. |
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