Term
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Definition
| the buying and selling of goods and services by people from different countries |
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Term
| Multinational Corporation |
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Definition
| a corporation that owns businesses in two or more countries |
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Term
| Direct Foreign Investment |
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Definition
| a method of investment in which a company builds a new business or buys an existing business in a foreign country |
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Term
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Definition
| government-imposed regulations that increase the cost and restrict the number of imported goods |
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Term
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Definition
| a government's use of trade barriers to shield domestic companies and their workers from foreign competition |
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Term
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Definition
| a direct tax on imported goods |
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Term
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Definition
| nontax methods of increasing the cost or reducing the volume of imported goods |
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Term
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Definition
| a limit on the number or volume of imported products |
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Term
| Voluntary Export Restraints |
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Definition
| voluntarily imposed limits on the number or volume of products exported to a particular country |
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Term
| Government Import Standard |
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Definition
| a standard ostensibly established to protect the health and safety of citizens but, in reality, often used to restrict imports |
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Term
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Definition
| government loans, grants and tax deferments given to domestic companies to protect them from foreign competition |
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Term
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Definition
| a classification assigned to imported products by government officials that affects the size of the tariff and the imposition of import quotas |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
| a worldwide trade agreement that reduced and eliminated tariffs, limited government subsidies and established protections for intellectual property |
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Term
| World Trade Organization (WTO) |
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Definition
the successor to GATT; the only international organization dealing with the global rules of trade between nations
its main function is to ensure that trade flows as smoothly, predictably adn freely as possible |
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Term
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Definition
| areas in which tariff and nontariff barriers on trade between countries are reduced or eliminated |
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Term
| Maastrict Treat of Europe |
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Definition
a regional trade agreement between most European countries
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| a regional trade agreement between the US, Canada and Mexico |
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Term
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Definition
| when a multinational company has offices, manufacturing plants, and distribution facilities in different countries and runs them all using the same rules, guidelines, policies and procedures |
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Term
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Definition
| modifying rules, guidelines, policies and procedures to adapt to differences in foreign customers, governments, and regulatory agencies |
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Term
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Definition
| selling domestically produced products to customers in foreign countries |
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Term
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Definition
| an agreement in which a foreign business owner pays a company a fee for the right to conduct that business in his or her country |
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Term
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Definition
| an agreement in which a domestic company, the licensor, receives royalty payments for allowing another company, the licensee, to produce the licensor's product, sell its service, or use its brand name in a specified foreign market |
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Term
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Definition
| a collection of networked firms in which the manufacturer or marketer of a product or service, the franchisor, licenses the entire business to another person or organization, the franchise |
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Term
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Definition
| an agreement in which companies combine key resources, costs, risk, technology an dpeople |
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Term
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Definition
| a strategic alliance in which two existing companies collaborate to form a third, independent company |
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Term
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Definition
| foreign offices, facilities, and manufacturing plants that are 100% owned by the parent company |
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Term
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Definition
| new companies that are founded with an active global strategy and have sales, employees, and financing in different countries |
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