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AMD 131 ch17 (Q18) Global Sourcing and Merchandising
Terms in this set (38)
Limit to the quantity of goods entering the United States
balance of trade
The difference between the value of exports and the value of imports
Quality products made by the same manufacturer that produces the genuine branded products; these are sold to the black market
An independent retailers service organization usually located in the major city of foreign market area. It is roughly the foreign equipment of an American resident buying office
corporate social responsibility (CSR)
A company that not only fully it complies with the obligations of legislation, but also accounts for how it integrates social and environmental factors into its global dishes and making policies and practices
Inferior imitations passed off as the genuine article. Luxury goods and designer brands are the chief objects of counterfeiters
Dominican Republic- Central America- United States Free Trade Agreement (CAFTA-DR)
When a country provides goods to another country
The wholesale price of merchandise in the country of origin
The unrestricted exchange of goods between nations
General Agreement on Tariffs and Trade (GATT)
A 1947 agreement, between many countries, to reduce trade barriers and unify trading practices. It was replaced by the World trade organization WTO in 1995
The process of shopping for and purchasing imported goods
gray market goods
Goods not intended for sale in the country in which they are being sold, often with an invalid warranty
When a country buys goods from a foreign country
Limit set to restrict the number of specific goods entering a country
Multi-Fiber Agreement (MFA)
The first multi national agreement specifically regulating the flow of textile products; it is being phased out
North American Free Trade Agreement (NAFTA)
An agreement that eliminated quotas and tariffs for good shipped between Canada, United States, and Mexico
The importation of goods by domestic apparel producers, either from their own plans operating and cheap, labor rich foreign areas, or through their long term supply arrangements with foreign producers
And economic and political doctrine that seeks to exclude or limit foreign goods
A type of purchasing that is done to the stores rather than to manufacturer's standards. See also private label
A fee assessed by a government on certain goods that it wishes to restrict or limit
A set limit after which a higher duty is charged on goods entering the country
When the value of goods that a country imports exceeds the value of its exports
Went to countries exports exceeds its imports
true or false:
Protectionism refers to an economic and political doctrine that seeks to exclude or limit foreign goods.
Which of the following is NOT true about US retailers purchasing apparel in foreign markets:
True:American retailers travel to foreign fashion markets to select and purchase new products.
Large apparel retailers tend to have overseas buying offices that help buyers make purchasing decisions.
Some US retailers work with foreign agents to purchase (source) apparel they need.
Not True: Large apparel retailers typically rely on American apparel importing firms that shop the global market and then present their lines to retailers.
Tariff Schedules 807 and 807A provide for
Preferential access for goods that originate or are partially manufactured in the United States while also partially manufactured abroad
When a certain number of goods have entered the country, a higher duty is imposed on any further imports. This is called a(n)
US companies that still produce apparel domestically promote all but one of the following advantages:
Quick delivery / quick response
true or false: For domestic importers (both retailers and manufacturers), the focus of global sourcing have been shifting to developing close partnerships with fewer overseas producers.
true or false:
According to the text, one of the major problems with imported apparel has been timely delivery.
true or false:
When the value of goods that a country imports exceeds the value of goods that it exports, the country has a trade surplus.
true or false:
Countries in the world becoming more economically interdependent because they cannot or choose not to produce all goods and services they need.
What legislation eliminated quotas and tariffs for goods shipped between the United States and Canada and Mexico?
Purchasing done to the store's rather than the manufacturer's standards is called
True or false: Absolute quotas limit the quantity of goods that may enter the United States; they may be global or directed at specific countries.
This set is often in folders with...
AMD 131 ch 9
AMD 131 ch 10 (Q11) Men's Apparel
AMD 131 ch 12 (Q13) Innerwear, Bodywear, Legwear
AMD 131 ch 16 (Q17) Global Fashion Markets
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