Buying products from another country.
Selling products to another country.
Movement of goods and services among nations without political or econ barriers.
When a country has a monopoly on producing a specific product.
Balance of Trade
Total value of a nation's exports compared to its imports.
Unforable balance of trade; value of a country's imports exceeds that of its exports.
Selling products at lower prices than those charged in producing country.
A global strategy in which a firm allows a foreign company to produce its product in exchange for a fee.
Arrangement where someone with a good idea for a business sells the rights to use the business name and sell a product.
Partnership in which 2 or more companies join to undertake a major project.
Foreign Direct Investment
Buying of permanent property and businesses in foreign nations.
A company owned in a foreign country by another company.
An organization that manufactures and markets products in different countries and has multinational stock ownership and multinational management.
Tax imposed on imports.
Limit on number of products in certain categories that a nation can import.
Complete ban on imports/exports with a certain country.
General Agreement on Tariffs and Trade (GATT)
1948 agreement that formed an internationl forum for negotiating mutal reductions in trade restrictions.
World Trade Organization (WTO)
International organization that replaced the former and was assigned the duty to mediate trade disputes.
North American Free Trade Agreement (NAFTA)
Free-trade area among US, Canada, and Mexico.
the standards or rules accepted by a society governing proper conduct
corporate social responsibility
the obligation of organization management to make decisions and take actions that will enhance the welfare and interests of society as well as the organization
Dimension of social responsibility that includes charitable donations.
an unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends