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cheries management

managment chapter 5

QuestionAnswer
Europe Many internet and software manufacturers throughout the continent
Asia-Pacific Japan dominates the region. Booming electronic industries
Globalization the integration of markets globally
Imports products that are made or grown abroad and sold in Canada
Exports Products made or grown in Canada that are sold abroad
Per capita income the average income per person of a country
North America America dominates the region. Canada and America are each others biggest trading partners. Mexico plays role because of cheap labour. A lot of automotive plants are in Mexico.
Absolute Advantage a nation’s ability to produce something more cheaply or better than any other country (Canadian Timber, Saudi Oil, Brazillian Coffee Beans)
Comparative Advantage a nation’s ability to produce some products more cheaply or better than it can others (Canada has a comparative advantage in farming because of fertile land and temperate climate)
National Competitive Advantage a country will be inclined to engage in international trade when factor conditions, demand conditions, related and supporting industries, and strategies/structures/rivalries are favorable.
International competitiveness the ability of a country to generate more wealth than its competitors in world markets.
Balance of Trade the difference in value between a country’s total exports and its total imports
Trade Surplus occurs when a country exports more than it imports
Trade Deficit occurs when a country imports more than it exports
Balance of Payments the difference between money flowing in to and out of a country as a result of trade and other transactions (money spent by tourists, buying and selling of international currencies on the market) - unfavourable balance is more money flowing out than in
Exchange rate the ratio of one currency to another - a currency is said to be strong when demand for it is high - also strong if there is high demand for the goods manufactured at the expense of that currency
Euro a common currency shared among most of the members of the European Union (excluding Denmark, Sweden and the UK)
Independent Agent a foreign individual, or organization, who agrees to represent an exporter’s interests in foreign markets (act as sale representatives by selling the exporter’s product, collecting payments, and ensuring customers are satisfied)
Licensing Agreement An arrangement by an owner of a process or product to allow another business to produce, distribute, or market it for a fee or royalty (franchising is a special form that is popularizing)
Branch Office a location that an exporting firm establishes in a foreign country in order to sell its products more effectively (gives the company a more visible public presence in the foreign country)
Strategic Alliance an enterprise in which two or more persons or companies temporarily join forces to undertake a particular object
Foreign Direct Investment (FDI) Buying or establishing tangible assets in another country (dell computers built assembly lines in Europe)
Quota a restriction by one nation on the total number of products of a certain type that can be imported from another nation (indirectly raises their price by reducing supply)
Embargo a government order forbidding exportation and/or importation of a particular product
Tariff a tax levied on imported products
Subsidy a government payment to help domestic business compete with foreign firms
Protectionism protecting domestic business at the expense of free market competition
Local-content laws laws requiring that products sold in a particular country be at least partly made in that country
AIT (agreement on international trade) requires all 10 Canadian provinces to remove barriers to agricultural trade
Business-practice laws laws or regulations governing business practices in given countries
Cartel any association of producers whose purpose is to control the supply and price of a given product
Dumping selling a product for less abroad than in the producing nation; illegal in Canada
European Union agreement among major Western European nations to eliminate or make uniform most trade barriers affecting group members - produces one quarter of global wealth - eliminated quotas and tariff levels of products imported and exported within the group
North American Free Trade Agreement (NAFTA) Agreement to gradually eliminate tariffs and other trade barriers among the USA, Canada and Mexico
International business Business activities that involve exchanges across national boundaries
Revenue tariff strictly to raise money for the government
Protectionist tariff discourage importation of certain product
Created by: 513431156
 

 



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