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GB 01
Global Industry
| Question | Answer |
|---|---|
| Global Business | business which operates internationally |
| Specialization | when a business creates the efficient production of a specific product or service |
| Comparative Advantage | when a company sells goods and services at a lower price than its competitors and still gains larger profits |
| Portfolio Investment | investor purchases part of a company through stocks; no real control of company |
| Direct Investment | investor purchases large part of a company; has direct control of company |
| Foreign Exchange | exchange of one currency for another; conversion of one currency into another |
| Inflation | rate at which the level of prices for goods and services are rising and purchasing is falling |
| Interest Rate | amount charged by a lender to a borrower for the use of their money |
| Deficit | when a country is spending more on foreign trade than it is earning |
| Public Debt | debt owed by a government |
| Terms of Trade | export prices versus import prices |
| Political Stability | investors look to support stable countries with strong economic performance |
| Economic Integration | different countries or regions agree to reduce or eliminate trade barriers and coordinate monetary and fiscal policies |
| Free Trade | tariffs between member countries are eliminated or reduced |
| Custom Union | tariffs between member countries are predetermined and applied to other countries |
| Common Market | member countries are free to move factors of production within other member countries |
| Economic Union | monetary and fiscal policies between member countries are coordinated by political integration |
| Political Union | authority of one or more member countries is significantly reduced and a common, united government is put in place |
| Imports | goods or services brought into one country from another |
| Indirect Importing | goods or services brought into one country from another |
| Direct Imports | foreign goods and services are shipped into another country and received by the consumer without going through a middle man |
| Exports | goods or services which are produced in one country and are shipped to another country for sale or trade |
| Indirect Exporting | goods are exported from a company through a third party company |
| Direct Exporting | company or manufacturer is more involved with the exporting process |
| Balance of Trade | difference between a country’s imports and exports |
| Foreign Trade | economic transactions between countries or other foreign entities |
| Foreign Investment | flow of capital from one nation to another in exchange for significant ownership stakes in domestic companies or other domestic assets |
| Fair Trade | type of trade movement which focuses on the improvement of trading circumstances |
| Free Trade | unconstrained purchase and sale of goods and services between countries without tariffs, duties or quotas |
| Employability | set of achievements which make a person more appealing to a potential employer |
| Studying Abroad | act of a student pursuing educational opportunities abroad |
| Global Linkage | ability to compete and participate on the global market |
| Licensing | agreement where one company, the licensor, makes an asset available to another company, the licensee, in exchange for some form of compensation |
| Export Management Companies | independent firms which act as export sales departments for non-competing manufacturers |
| Intellectual Property Rights | rights given to persons over the creations of their minds |
| Global Copyright | type of international law which protects the rights of creators or copyrighted works around the world |
| Moral Rights | ideas that a copyrighted work is the expression of the personality of its author or creator |
| Economic Rights | rights of the creator to authorize use of, or to prohibit the use of a work and to set the conditions for its use |
| Trademark | brand name used to identify and distinguish the goods or services of one seller from those of others and to indicate the source of the goods/services |
| Global Logistics | transport, handling and storage of funds, goods and information outside and inside the production process |
| Global Job Market | global market in which employers across the world may search for potential employees in foreign countries and vice versa |
| Multinational Company | company which has its facilities and other assets in at least one country other than its home country |
| Employability | achievements which make a person more appealing to a potential employer |
| Bilingualism | ability to speak two or more languages |
Created by:
wallerd
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