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Unit 4:
International Business
Term | Definition |
---|---|
Culture | The set of customs, beliefs and social attitudes that characterize a particular group of people. |
Exports | Products and services that are produced in one country and sent to another to be sold. |
Imports | Products and services that brought in form another country to be sold. |
Marketing Expansion | Increasing market share for a product or service within a given market in a given area. |
Product Life Cycle | The Business cycle determined by changes in the type of competition faced by a product; the four stages are introduction, growth, maturity, and decline. |
Quota | A limited on the amount of a product that can be imported into a country over a particular period of time. |
Tariff | A tax on imports. |
Trade Barriers | Methods for keeping foreign businesses from competing with domestic producers. |