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Unit 8- Global Bus.

QuestionAnswer
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.
Created by: racheledwards
 

 



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