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Unit 8- Global Bus.
Question | Answer |
---|---|
culture | the customs, beliefs, values, and patterns of behavior of the people of a country or group. |
Domestic goods | products made by firms within a country |
Embargo | a total ban from doing business with a particular country |
Exchange rate | the value of one country's currency expressed in the currency of another country. |
Export | goods and services that are sold abroad |
Foreign goods | products make by firms in other countries. |
Global business | business activities that occur between two or more countries. |
Global competition | the ability of profit-making organizations to compete with other businesses in other countries |
import | goods and services that are purchased abroad |
joint venture | two or more businesses that agree to provide a good or service, sharing the cost of profits of doing business. |
Multi-national company | a business willing to make significant financial commitment to establish manufacturing and distribution facilities in foreign countries. |
North America Free Trade Agreement | A trading bloc consisting of the United States , Canada, and Mexico. |
Sanctions | a milder from of embargo that bans specific business ties with a specific country |
Strategy alliance | arrangements in which firms agree to cooperate on certain aspects of business while remaining competitors on other aspects |
Tariff | A tax on an import |
World trade organization | international organization that creates and enforces rules governing trade among countries. |