International Business
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| show | process by which perceived distance is shrinking, material culture is starting to look the same the world over, national economies are merging into one.
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| Who has the highest level of ouput in the world? | show 🗑
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| US GDP? | show 🗑
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| show | 20.4
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| Globalization of markets? | show 🗑
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| show | 90%
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| show | Sourcing of goods & services from locations around the globe to take advantage of national differences in the cost & quality of various factors of production.
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| Factors of production? | show 🗑
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| GATT | show 🗑
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| show | Primarily policing the world traiding systems and making sure nation-states adhere to the rules laid down in trade treaties signed by WTO member states.
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| show | The org is usurping the national sovereignty of individual nation-states.
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| show | International Monetary Fund
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| What is the difference between the IMF & the World Bank? | show 🗑
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| show | Building dams or roads
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| show | Adopt specific economic policies aimed at returning their troubled economies to stability and growth.
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| show | Intl org made up of 191 countries charged with keeping internaltional peace, developing cooperation between nations, amd promoting human rights.
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| What are the four purposes of the UN? | show 🗑
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| show | Labor, energy, land, & Capital
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| Intl Trade | show 🗑
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| show | Foreign Direct Investment
occurs when a firm invests resources in business activities outside its home country.
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| show | Premise that the power of microprocessor technology doubles & its cost of production drops in half every 18 mo's.
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| show | total accumulated value of foreign owned assets at a given time.
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| show | Multinational enterprise
any business that has productive activities in 2 + countries.
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| show | political, economic, and legal sytems of a country are interdependent; they interact and influence each other.
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| show | system of govt in a nation
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| show | political system that stresses the primary of collective goals over individual goals
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| show | believed that society should ve stratified into classes with those best suited to rule
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| Socialism | show 🗑
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| Communits | show 🗑
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| Social Democrats | show 🗑
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| Individualism | show 🗑
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| show | Citizens periodically elect individuals to represent them in govt functions
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| show | Advocating socialisism can only be achieved through a totalitarian dictatorship
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| Right-Wing Totalitarianism | show 🗑
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| show | Political system that a party or group represent interests of a particular tribe monopolizes political pwr
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| show | Interaction of supply & demand determines the quantity in which goods & sercvices are produced
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| show | Govt plans the allocation of resources
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| Legal System | show 🗑
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| Common Law | show 🗑
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| Civil Law System | show 🗑
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| show | system of law based on religious teachings
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| show | Bundle of legal rights over the use to which a resource is put and over the use of any income that may be derived
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| show | refers to values & norms shared among employees of an org.
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| show | extra profit producers make when supply is artifically limited by an export quota
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| Local Content Requirement | show 🗑
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| Administrative Trade Policies | show 🗑
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| show | Selling goods in a foreign market below costs of production
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| Countervailing Duties | show 🗑
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| Antidumping Policies | show 🗑
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| show | passed in 1996, this law allows Americans to sue foreign firms that use Cuban property confiscated from them during Cuba's 1959 revolution
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| D'Amato Act | show 🗑
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| Infant Industry Argument | show 🗑
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| Strategic Trade Policy | show 🗑
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| Corn Laws | show 🗑
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| show | passed in 1930, US law erected a wall of tariff barriers against imports
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| show | establisment of a new operation in a foreign country
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| show | amount of FDI UNDERTAKEN OVER A GIVEN TIME PERIOD; NORMALLY A YR
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| show | total accumulated value of foreign owned assets at a given time
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| Gross fixed capital formation | show 🗑
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| show | Industry component of a limited number of large firms
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| show | arises when two or more enterprises encounter each other in different reional markets, etc
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| show | Theory that combining localtion specific assets or resource endowmenrs and the firms own unique assets often requires FDI.
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| Exporting | show 🗑
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| show | occurs when a firm (licensor) grants a foreign entity (licensee) the right to produce its product, use its production processes, etc
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| show | advantages that arise from utilizing resource endowments or assets thar are tied to a particular foreign location & that a firm finds valuable to combine with its own unique assets, etc
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| Pragmatic Nationalism | show 🗑
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| Balance of Payment Accounts | show 🗑
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| show | in the balance of payments, this records transactions involving the esport or import of goods & services
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| show | FDI undertaken to serve the house market
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| show | Agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barrirtd to the free flow of goods
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| Free Trade Area | show 🗑
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| EFTA | show 🗑
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| Customs Union | show 🗑
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| show | has no barriers to trade ntwn member countries Pg. 265
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| show | involes the free flow of products and factors of production btwn member countries & the adoption of a common external trade policy
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| Political Union | show 🗑
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| show | occurs when high cost domestic producers are replaced by low cost producers within the free trade area.
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| Trade diversion | show 🗑
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| Treaty of Rome | show 🗑
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| show | Treaty committing members of the EC to adopt a common currency
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| Andean Pact | show 🗑
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| Mercosur | show 🗑
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| show | Rate @ which 1 currency is converted into another.
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| show | A market for converting the currency of 1 country into that of another country.
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| show | Ris that changes in exchange rates will hurt the probabibility of a business deal
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| Currency Speculation | show 🗑
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| show | Insuring 1's bus against froeign exchage risk by using forward exchanges or currency swaps.
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| Spot Exchange Rate | show 🗑
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| show | When 2 parties agree to exchange currency & execute a deal @ some specific date in the future.
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| show | simultaneous purchase & sale of a given amount of foreign exchange for two different value dates. pg. 301
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| show | Purchase of securitir\es in 1 market for immediate resale in another market to profit from a price discrepancy.
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| Law of 1 Price | show 🗑
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| Efficient Market | show 🗑
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| show | Market in which few impediments to intl trade & investment exists.
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| PPP theory predicts | show 🗑
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| PPP theory predits | show 🗑
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| show | whether the rate of growth in a country's money suppky is grater then the rate of growth in output.
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| Purchasing Power Parity Puzzle | show 🗑
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| show | Theory that nominal interest rates in 4ach country equal the required real rate of interest & expected rate of inflation.
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| Mercantilism | show 🗑
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| show | A situation in which a gain by one country results in a loss by another.
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| show | When 1 county is more efficient than another country in producing a particular product. pg 161
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| show | Various output possiblities a country can produce from its resource pool. pg 161
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| Factor Endowments | show 🗑
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