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Chapter 1 Key Terms

Chapter 1 Key Terms. foreign market trade business transactions domestic business international business domestic market foreign or international trade trading partner duty or tariff. globalization interdependence primary industries secondary industries branch plant

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Chapter 1 Key Terms

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  1. Chapter 1 Key Terms • foreign market • trade • business • transactions • domestic business • international business • domestic market • foreign or international trade • trading partner • duty or tariff • globalization • interdependence • primary industries • secondary industries • branch plant • tertiary industries • service sector • foreign direct investment • portfolio investment • culture industry

  2. importing global sourcing exporting value added licensing agreement exclusive distribution rights franchise joint venture foreign subsidiary protectionism trade quotas trade embargo trade sanctions exchange rate floating rate currency revaluation currency devaluation terms of trade hard currencies soft currencies currencyspeculating Chapter 2 Key Terms

  3. Chapter 3 Key Terms • culture • subculture • counterculture • rationalization • monochronic • polychronic • spatial perception • cultural dimensions • Geert Hofstede Cultural Dimensions • Impact of Culture on Labour Market pg 79-83

  4. Chapter 4 Key Terms • political system • economic system • market economy • centrally planned economy • mixed economy • democracy • autocracy • underdeveloped countries • developing countries • developed countries • gross domestic product (GDP) • business cycle • absolute advantage • opportunity cost • comparative advantage • lobbying

  5. Chapter 5 Key Terms • trade agreement • North American Free Trade Agreement (NAFTA) • European Union (EU) • euro • trade organizations • World Trade Organization (WTO) • Asia-Pacific Economic Co-operation (APEC) • Group of Eight (G8) • Group of Twenty (G20) • Organization for Economic Co-operation and Development (OECD) • World Bank • International Monetary Fund (IMF)

  6. Chapter 6 Key Terms • corporate social responsibility (CSR) • business ethics • ethical imperialism • cultural relativism • pollution • resource depletion • sweatshops • corporate corruption • dumping • predatory dumping • microcredit • non-governmental organizations (NGOs)

  7. Chapter 7 Key Terms • marketing • secondary data • primary data • centralized strategy • decentralized strategy • e-distribution • sales agent • trade show • royalty • target market • ethnocentrism • demographic information • discretionary income • competitive advantage • economies of scale

  8. Chapter 8 Key Terms • logistics • production logistics • business logistics • supply chain • vertical integration • horizontal integration • point-of-sale terminal • just-in-time (JIT) inventory systems • letter of credit • supplier management • outsourcing • nearsourcing • insourcing • offshoring • inshoring • inbound distribution • outbound distribution • receiving process • Ex Works (EXW) • carrier • bill of lading • freight consolidation • containerization

  9. Chapter 9 Key Terms • tax credit • Smart Border Accord • Human Development Index (HDI) • productivity • telecommuting

  10. Chapter 10 Key Terms • subprime mortgage • foreclose • collateral • feed-in tariff • sustainability • passport • visa • duty-free

  11. Questions • Chapter 1 pg. #32 1-4, 6-7, 15 • Chapter 2: pg. 58 #4, 14, 15, 20, 21 • Chapter 3 pg. 92 #1-4, 5, 11, 15 • Chapter 4 pg. 118 #1,2,4-16, 22, 23 • Chapter 5 pg. 152 #3, 4, 5, 6,10, 13, 15, 16, 18, 23, 28-30 • Chapter 6 pg. 178 #1-6, 8, 9, 17, 19, 20, 21, 22, 23, 25

  12. Chapter 7 pg. 214 #1, 2, 3, 4, 5, 6, 7, 8, 9 • Chapter 8 pg. 244# 3, 4, 5, 9, 10, 19 • Chapter 9 pg. 274 # 2-14, 18, 20, 21 • Chapter 10 pg. 306 # 4, 9, 18

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