Create an account
economic system in which goods and services are exchanged for one another or money on the basis of their perceived worth
processes and methods employed in transformation of tangible inputs (raw materials semi finished goods or subassemblies) and intangible inputs (ideas information know how) into goods or services
includes all steps necessary to convert raw materials components or parts into finished goods that meet a costumers expectations or specifications
the existence within a market for some good or service of a sufficient number of buyers and sellers such that no single market participant has enough influence to determine the going price of the goof or service opposite of monopoly
an employee of a large corporation who is given freedom and financial support to create new products services systems etc, and does not have to follow the corporations usual routines or protocols
to send goods or services across national frontiers for the purpose of selling and realizing foreign exchange
official suspension of import and or export of some specific or all goods to or from a specific port, country or region for political health or labor related reasons for a specified or indefinite period
-(regarding international business) punitive or restrictive measures taken usually by several countries in concert to pressure a country to change its certain policies
price for which the currency of a country can be exchanged for another country's currency. Factors that influence exchange rate include (1) interests rates (2)inflation rate (3) trade balance and (4) political stability
government imposed restriction on the free international exchange of goods or services trade barrier examples (1) import policies reflected in tariffs and other important charges, quotas, (2) standers testing labeling and various types of certification
North America Free Trade Agreement- Trilateral treaty among Canada, Mexico, and the US established in 1994 to remove import duties (tariffs) and non tariff barriers within ten years for most types of goods and within five years for others
Please allow access to your computer’s microphone to use Voice Recording.
Having trouble? Click here for help.
We can’t access your microphone!
Click the icon above to update your browser permissions and try again
Reload the page to try again!Reload
Press Cmd-0 to reset your zoom
Press Ctrl-0 to reset your zoom
It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.
Please upgrade Flash or install Chrome
to use Voice Recording.
For more help, see our troubleshooting page.
Your microphone is muted
For help fixing this issue, see this FAQ.
Star this term
You can study starred terms together