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EM II Unit 4

Enterprise Management II Vocabulary Unit 4

QuestionAnswer
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 are brought in from 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
Created by: judyshipp
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