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Unit 4:

International Business

TermDefinition
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.
Created by: isai003
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