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Study sets matching "international business chapter 2"

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Study sets matching "international business chapter 2"

20 terms
International Business -- Chapter 2
balance of trade
consumer price index
cost-push inflation
demand
difference between a country's exports and imports
federal government report published on inflation
when expenses of a business increase, prices go up
relationship between amount a good that consumers are willing…
balance of trade
difference between a country's exports and imports
consumer price index
federal government report published on inflation
69 terms
International Business Chapter 2
What makes a company international?
International Business
Globalization
Pros of Expansion
1. owning a retail outlet in another country... 2. Owning a manu…
conducts transactions across national borders
development of an increasingly integrated global economy (fre…
company growth, new markets and consuemrs, increased profits,…
What makes a company international?
1. owning a retail outlet in another country... 2. Owning a manu…
International Business
conducts transactions across national borders
18 terms
International Business Chapter 2
Top 10 Importers 1-5
Top 10 Importers 6-10
Top 10 Exporters 1-5
Top 10 Exporters 6-10
US, China, Mexico, Japan, Germany
UK, Algeria, France, Norway, South Korea
US, UK, Japan, China, Mexico
Germany, Netherlands, South Korea, Belgium, France
Top 10 Importers 1-5
US, China, Mexico, Japan, Germany
Top 10 Importers 6-10
UK, Algeria, France, Norway, South Korea
25 terms
International Business Chapter 2 LSM
absolute advantage
balance of trade
command economy
comparative advantage
exists when a country can produce a good or service at a lowe…
the difference between a countries imports and exports
the government controls business
when a country specializes in the production of a good or ser…
absolute advantage
exists when a country can produce a good or service at a lowe…
balance of trade
the difference between a countries imports and exports
42 terms
Chapter 2 - International Business
Foreign Portfolio Investment
What is the benefit of the foreign por…
Import
Where does the majority of Canadian go…
Investment in businesses located outside of Canada through st…
Allows Canadians to spread out their investments, which is le…
To bring products or services into a country, ... for use by ano…
United States
Foreign Portfolio Investment
Investment in businesses located outside of Canada through st…
What is the benefit of the foreign por…
Allows Canadians to spread out their investments, which is le…
31 terms
International Business - Chapter 2
culture
Subcultures
ethnocentricity
cultural literacy
set of values, beliefs, rules, and institutions held by a spe…
a group of people who share a unique way of life within a lar…
the belief that one's own ethnic group is superior
detailed knowledge about a culture that enables a person to w…
culture
set of values, beliefs, rules, and institutions held by a spe…
Subcultures
a group of people who share a unique way of life within a lar…
27 terms
International Business: Chapter 2 Terms
scarcity
economics
Opportunity Cost
supply
Limited resources available to satisfy the unlimited needs an…
How people choose to use limited resources
the most attractive alternative given up when a choice is mad…
the relationship between the amount of a good or service that…
scarcity
Limited resources available to satisfy the unlimited needs an…
economics
How people choose to use limited resources
12 terms
Chapter 2 international Business
Invoicing Currency
Flight Capital
Keiretsu
Sogo Shosho
The currency in which sales are denominated in.
Money sent out of an unstable nation
The high powered families of interrelated companies that run…
An export trading company that the Keirestu rely on
Invoicing Currency
The currency in which sales are denominated in.
Flight Capital
Money sent out of an unstable nation
21 terms
International Business Chapter 2
Problems in int'l bus. when:
what are some cultural factors at play?
Culture
People also belong to
- Employees have subconscious reactions... - Employees assume al…
- Cultural awareness (attire, religion, language)... - Identific…
norms based on attitudes, values, and beliefs of a group of p…
national, ethnic, professional, and organizational cultures
Problems in int'l bus. when:
- Employees have subconscious reactions... - Employees assume al…
what are some cultural factors at play?
- Cultural awareness (attire, religion, language)... - Identific…
25 terms
international business chapter 2
Culture
The change that results from contact b…
Cultural awareness
Timing
Learned norms are based on the values, attitudes, and beliefs
Cultural diffusion can best be defined as
Does NOT involve risk
You work for a company that decides to lower wages during a l…
Culture
Learned norms are based on the values, attitudes, and beliefs
The change that results from contact b…
Cultural diffusion can best be defined as
25 terms
International Business Chapter 2
absolute advantage
balance of trade
command economy
comparative advantage
exists when a country can produce a good or service at a lowe…
the difference between a countries imports and exports
the government controls business
when a country specializes in the production of a good or ser…
absolute advantage
exists when a country can produce a good or service at a lowe…
balance of trade
the difference between a countries imports and exports
21 terms
International Business-Chapter 2
Act of State Doctrine
Biotechnology
Civil or code law
Collectivism
A jurisdictional principle of international law which holds t…
The integration of science and technology to create agricultu…
Law that is derived from roman law and is found in the non-Is…
The political philosophy that views the needs or goals of soc…
Act of State Doctrine
A jurisdictional principle of international law which holds t…
Biotechnology
The integration of science and technology to create agricultu…
40 terms
International Business: Chapter 2
Adam Smith's new trade theory called _…
____ occurs when a country can produce…
The _____ theory is based on a country…
An American economist advocated the __…
absolute advantage
comparative advantage
factor proportion
Leontief Paradox
Adam Smith's new trade theory called _…
absolute advantage
____ occurs when a country can produce…
comparative advantage
28 terms
International Business-Chapter 2
Scarcity
Economics
Making Choices`
opportunity cost
the limited resources available to satisfy the unlimited need…
the study of how people choose to use limited resources to sa…
using the decision making process can help make wiser decisio…
giving up something to get something better in the future
Scarcity
the limited resources available to satisfy the unlimited need…
Economics
the study of how people choose to use limited resources to sa…
19 terms
Chapter 2 international business
mercantilism
absolute advatage
comparative advantage
offshoring
economic philosophy based on the belief that (1) a nations we…
theory that a nation has absolute advantage when is can produ…
theory that a nation having absolute disadvantages in the pro…
locating activites in another nation
mercantilism
economic philosophy based on the belief that (1) a nations we…
absolute advatage
theory that a nation has absolute advantage when is can produ…
39 terms
international business chapter 2
political economy
political system
collectivism
individualism
interdependence of the political, economic and legal systems…
system of government in a nation
concerned with needs of overall society or group rather than…
guarantee individual freedom and expression, people can pursu…
political economy
interdependence of the political, economic and legal systems…
political system
system of government in a nation
25 terms
International Business Chapter 2
Scarcity
Economics
Opportunity Cost
Supply
The limited resources available to satisfy the unlimited need…
The study of how people choose to use limited resources to sa…
The most attractive alternative given up when a choice is made
The relationship between the amount of a good or service that…
Scarcity
The limited resources available to satisfy the unlimited need…
Economics
The study of how people choose to use limited resources to sa…
12 terms
Chapter 2 International Business
Triad
Quad
Invoicing Currency
Flight Capital
Japan, The European Union, and the United States
The Triad plus Canada
The currency in which the sale of goods and services are deno…
Money sent out of a politically or economically unstable coun…
Triad
Japan, The European Union, and the United States
Quad
The Triad plus Canada
33 terms
international business chapter 2
Political economy of a nation
Democracy
Totalitarianism
4 major forms of totalitarianism today
how the political, economic, and legal systems of a country a…
a political system in which government is by the people, exer…
form of government in which one person or political party exe…
communist totalitarianism... theocratic totalitarianism... tribal t…
Political economy of a nation
how the political, economic, and legal systems of a country a…
Democracy
a political system in which government is by the people, exer…
35 terms
International Business: Chapter 2
Politcal Economy
Political System
Collectivism
Socialists
The political, economic and legal systems of a country are in…
System of government in a nation
A political system that stresses the primacy of collective go…
State ownership of the basic means of production, distributio…
Politcal Economy
The political, economic and legal systems of a country are in…
Political System
System of government in a nation
International Business Chapter 2
Political Economy
Political System
Collectivism
Socialists
the study of how political factors influence the functioning…
the system of government in a nation
refers to a political system that stresses the primacy of col…
trace their intellectual roots to Karl Marx
Political Economy
the study of how political factors influence the functioning…
Political System
the system of government in a nation
24 terms
International Business Chapter 2
Political Economy
Political System
Collectivism
Socialism split into two camps in earl…
The way nations economic, political, and legal systems intera…
The nations system of government, described based on whether…
Political system emphasizes the importance of collective goal…
Communists/Social Democratic
Political Economy
The way nations economic, political, and legal systems intera…
Political System
The nations system of government, described based on whether…
33 terms
International Business Chapter 2
Scarcity
Economics
Opportunity Cost
Supply
limited resources available to satisfy unlimited needs and wa…
study of how people choose to use limited resources to satisf…
most attractive alternative given up when a choice is made
relationship between amount of good or service that businesse…
Scarcity
limited resources available to satisfy unlimited needs and wa…
Economics
study of how people choose to use limited resources to satisf…
39 terms
International Business (Chapter 2)
Copyright
Regulatory Pillars
Democracy
Theocratic Law
exclusive legal right of authors and publishers to publish an…
the coercive power of governments
a political system in which citizens elect representatives to…
a legal system based on religious teachings
Copyright
exclusive legal right of authors and publishers to publish an…
Regulatory Pillars
the coercive power of governments
40 terms
chapter 2 international business
41. (p. 42) Interdependent political,…
42. (p. 42) Identify the incorrect sta…
43. (p. 42) Which of the following sta…
44. (p. 43) _____ is consistent with t…
D. political economy.
A. It is independent of the culture of a nation.
D. It is impossible to have totalitarian societies that are n…
B. Collectivism
41. (p. 42) Interdependent political,…
D. political economy.
42. (p. 42) Identify the incorrect sta…
A. It is independent of the culture of a nation.
38 terms
international business chapter 2
culture
example of national culture
what are some ways a subculture can di…
subcultures sometimes exist across ___…
set of beliefs, values, rules, and institutions held by a spe…
building museums and monuments to preserve the legacies of im…
race, language, lifestyle, values, attitudes
national borders
culture
set of beliefs, values, rules, and institutions held by a spe…
example of national culture
building museums and monuments to preserve the legacies of im…
36 terms
International Business: Chapter 2
Politcal Economy
Political System
Collectivism
Socialists
The political, economic and legal systems of a country (are i…
System of government in a nation
A political system that stresses the primacy of collective go…
Someone who believes in public ownership of the basic means o…
Politcal Economy
The political, economic and legal systems of a country (are i…
Political System
System of government in a nation
27 terms
International Business Chapter 2
what is the political economy of a cou…
Political system
Collectivism
individualism
refers to its political, economic, and legal systems
is the system of government in a nation
stresses the primacy of collective goals over individual goals
suggests individuals should have freedom over their economic…
what is the political economy of a cou…
refers to its political, economic, and legal systems
Political system
is the system of government in a nation
34 terms
International Business Chapter 2
4 types of political systems
Collectivism
Socialism
2 other types of collectivism created…
1) Individualism... 2) Collectivism... 3) Democracy... 4) Totalitarian…
stresses the needs of society as a whole - those needs are mo…
a system that is characterized by public ownership of key ind…
1) communism... 2) social democracy
4 types of political systems
1) Individualism... 2) Collectivism... 3) Democracy... 4) Totalitarian…
Collectivism
stresses the needs of society as a whole - those needs are mo…
20 terms
Business 303 International Business Chapter 2
Dimensions of Culture
Culture
Ethnocentric
Roles
Communication/religion/ethics/values/attitudes/manners/custom…
Set of shared attitudes, values, goals, and practices; charac…
One's own culture is superior to all others; standard by whic…
Set of rights, obligations and expectations associated with a…
Dimensions of Culture
Communication/religion/ethics/values/attitudes/manners/custom…
Culture
Set of shared attitudes, values, goals, and practices; charac…
23 terms
International business - Chapter 2
Many of our jobs are dependent on
International trade
foreign direct investment
Approximately 70 percent
exports, imports, or foreign investment.
which includes exports and imports
which international companies must make to establish and expa…
of exports from developed economies go to other industrialize…
Many of our jobs are dependent on
exports, imports, or foreign investment.
International trade
which includes exports and imports
38 terms
International Business Law Chapter 2
The Law of Nations
Roman Law
International Law
Public International Law
International law is thought to be derived from the Latin ter…
Laws that governed public and private relations with foreigne…
The body of rules applicable to the conduct of nations in the…
Deals with those rules affecting the conduct of nations in th…
The Law of Nations
International law is thought to be derived from the Latin ter…
Roman Law
Laws that governed public and private relations with foreigne…
27 terms
International Business Chapter 2
Culture
Subculture
Ethnocentricity
Cultural Literacy
Set of values, beliefs, rules, and institutions held by a spe…
A group of people who share a unique way of life within a lar…
Belief that one's own ethnic group or culture is superiors to…
Detailed Knowledge about a culture that enables a person to w…
Culture
Set of values, beliefs, rules, and institutions held by a spe…
Subculture
A group of people who share a unique way of life within a lar…
34 terms
International Business Chapter 2
Political Economy=
Political System=
Collectivism=
Socialists=
-How the political, economic, and legal systems of a ... countr…
-The system of government in a nation
-Stress the primacy of collective goals over individual goals…
-From Karl Marx... -Advocate state ownership of the basic means…
Political Economy=
-How the political, economic, and legal systems of a ... countr…
Political System=
-The system of government in a nation
27 terms
International Business Chapter 2
Culture
Subculture
ethnocentricity
cultural literacy
Set of values, beliefs, rules and institutions held by a spec…
A group of people who share a unique way of life within a lar…
Belief that one's own ethnic group or culture is superior to…
Detailed knowledge about a culture that enables a person to w…
Culture
Set of values, beliefs, rules and institutions held by a spec…
Subculture
A group of people who share a unique way of life within a lar…
40 terms
International Business Chapter 2
political system
4 types of political systems
Collectivism
Socialism
a system of government in action
1) Individualism... 2) Collectivism... 3) Democracy... 4) Totalitarian…
stresses the needs of society as a whole - those needs are mo…
a system that is characterized by public ownership of key ind…
political system
a system of government in action
4 types of political systems
1) Individualism... 2) Collectivism... 3) Democracy... 4) Totalitarian…
19 terms
International Business Chapter 2
mercantilism
absolute advantage
comparative advantage
offshoring
an economic philosophy based on the belief that a nation's we…
theory that a nation has absolute advantage when it can produ…
theory that a nation has absolute disadvantage in the product…
locating activities in another nation
mercantilism
an economic philosophy based on the belief that a nation's we…
absolute advantage
theory that a nation has absolute advantage when it can produ…
12 terms
International Business- Chapter 2
global integration strategy
local responsiveness strategy
global-local dilemma
value chain
conducting business similarly throughout the world, and locat…
responding to differences in the markets in all the countries…
choice between a local responsiveness or global approach to a…
a way of identifying all the areas where a firm can create va…
global integration strategy
conducting business similarly throughout the world, and locat…
local responsiveness strategy
responding to differences in the markets in all the countries…
36 terms
International Business Chapter 2
Political Economy
Political System
Collectivism
Socialist
The political, economic, and legal system of a country
System of government in a nation
A political system that emphasizes collective goals as oppose…
Someone who believes in public ownership of the means of prod…
Political Economy
The political, economic, and legal system of a country
Political System
System of government in a nation
Chapter 2 Vocab (International Business)
Absolute Advantage
Balance of Trade
Command Economy
Comparative Advantage
A country can produce a good or service at a lower cost than…
The difference between a country's exports and imports
The situation where the government or a central planning comm…
A situation that exists when a country specializes in the pro…
Absolute Advantage
A country can produce a good or service at a lower cost than…
Balance of Trade
The difference between a country's exports and imports
37 terms
International Business Chapter 2 Vocab
Political Economy
Political System
Collectivism
Socialist
Political, economic, and legal systems of a country
System of government in a nation
-A political system that emphasizes collective goals as oppos…
Someone who believes in public ownership of the means of prod…
Political Economy
Political, economic, and legal systems of a country
Political System
System of government in a nation
International Business Chapter 2 Vocab
political economy
political system
political system
collectivism
the political, economic, and legal systems of a country
the system of government in a nation
the system of government in a nation
a political system that emphasizes collective goals over indi…
political economy
the political, economic, and legal systems of a country
political system
the system of government in a nation
17 terms
Chapter 2 vocab International Business
Triad
Quad
Invoicing currency
Flight capital
A group of countries where much of the world's economic activ…
Addition of Canada to the Triad.
The currency in which the sale of goods and services is denom…
Money spent out of a politically or economically unstable cou…
Triad
A group of countries where much of the world's economic activ…
Quad
Addition of Canada to the Triad.
12 terms
Chapter 2 International Business
Triad
Quad
Invoicing Currency
Flight Capital
Japan, The European Union, and the United States
The Triad plus Canada
The currency in which the sale of goods and services are deno…
Money sent out of a politically or economically unstable coun…
Triad
Japan, The European Union, and the United States
Quad
The Triad plus Canada
12 terms
Chapter 2 International Business
Triad
Quad
Invoicing Currency
Flight Capital
Japan, The European Union, and the United States
The Triad plus Canada
The currency in which the sale of goods and services are deno…
Money sent out of a politically or economically unstable coun…
Triad
Japan, The European Union, and the United States
Quad
The Triad plus Canada
12 terms
Chapter 2 International Business
Triad
Quad
Invoicing Currency
Flight Capital
Japan, The European Union, and the United States
The Triad plus Canada
The currency in which the sale of goods and services are deno…
Money sent out of a politically or economically unstable coun…
Triad
Japan, The European Union, and the United States
Quad
The Triad plus Canada
INTERNATIONAL BUSINESS - CHAPTER 2
IMPORTING
EXPORTING
GLOBAL SOURCING
VALUE ADDED
To bring products/services into a country, for use by another…
To send products/services to another country for used by anot…
a process of the company buying equipment, capital goods, raw…
The Amount of worth that is added to a product at each stage…
IMPORTING
To bring products/services into a country, for use by another…
EXPORTING
To send products/services to another country for used by anot…
25 terms
Chapter 2 International business
trade deficit
trade surplus
merchantilism
absolute advantage
the amount by which the value of imports into a nation exceed…
the amount by which the value of exports exceeds the value of…
an economic philosophy based on the belief that a nations wea…
a nations ability to produce more of a good or service than a…
trade deficit
the amount by which the value of imports into a nation exceed…
trade surplus
the amount by which the value of exports exceeds the value of…
35 terms
International Business Chapter 2
Political System
Collectivism
socialism split into two camps:
Communist
the systems of government in a nation
stresses the primacy of collective goals over individual goals
Communist & Social Democrats
socialism can only be achieved through violent revolution and…
Political System
the systems of government in a nation
Collectivism
stresses the primacy of collective goals over individual goals
37 terms
International Business-Chapter 2
Scarcity
Economics
Opportunity Cost
Demand
The limited resources available to satisfy the unlimited need…
Study of how people choose to use limited resources to satisf…
When the most attractive alternative is given up when a choic…
The relationship between the amount of a good or service that…
Scarcity
The limited resources available to satisfy the unlimited need…
Economics
Study of how people choose to use limited resources to satisf…
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