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| a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions |
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| an organized social movement and market-based approach to empowering developing country producers and promoting sustainability |
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| the process or transformation of local or regional phenomena into global ones |
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| occurs when competition between nations or states (over investment capital, for example) leads to the progressive dismantling of regulatory standards |
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| a international organization that oversees the global financial system by following the macroeconomic policies of its member countries, in particular those with an impact on exchange rates and the balance of payments. It also offers financial and technical assistance to its members, making it an international lender of last resort. |
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| an internationally supported bank that provides financial and technical assistance to developing countries for development programs (e.g. bridges, roads, schools, etc.) with the stated goal of reducing poverty |
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| Foreign Direct Investment (FDI) |
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| a company from one country making a physical investment into building a factory in another country |
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| Corporate Social Responsibility |
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| concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment |
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| Foreign Corrupt Practices Act |
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| United States federal law known primarily for two of its main provisions, one that addresses accounting transparency requirements under the Securities Exchange Act of 1934 and another concerning bribery of foreign officials |
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| the idea that a colony should export more goods than it imports; and that a colony should sell at higher prices and buy at lower prices |
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| "The principle of comparative advantage", generally attributed to David Ricardo in his 1817 Principles of Political Economy and Taxation extends the range of possible mutually beneficial exchanges. It is not necessary to have an absolute advantage to gain from trade, only a comparative advantage. This means that one need only to be able to make something at a lower cost, in terms of other goods sacrificed, to oneself to gain from trade. |
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| refers to the fact that although one country may have an absolute disadvantage with another, value can be created for both countries by allocating resources to the most competitive area of the disadvantaged country |
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| the amount of land, labor, capital, and entrepreneurship that a country possesses and can exploit for manufacturing |
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