Global Business Midterm

Monthly US Federal government report on inflation. 

A country's ability to produce a good or service at a lower cost than other countries.

Products sold in other countries.

The amount a country owes to other countries.

A subset or part of a larger culture.

The belief that the group is more important than the individual.

Method of productive output of a country , including items produced with foreign resources.

Limited resources available to satisfy unlimited needs and wants of people.

A normal reaction to all the differences of another culture.

The belief that one's culture is better than other cultures.

A means of dividing the members of a cultural group into various levels.

A nation's transportation, communication, and utility system.

People need and want goods and services produced in other countries.

Products bought from businesses in other countries.

Idea that you carry your beliefs, values, & assumptions with you at all times.

Type of nonverbal comm. where facial expressions, upper & lower body movements & gestures 

The accepted behaviors, customs, & values of a society.

System of learned, shared, unifying, & interrelated beliefs, values, & assumptions

Your favorite block?

The 3 types of resources used to produce goods & services.

Activities necessary for creating, shipping, & selling goods & services across national borders

The difference between a country's exports and imports.

The study of how people choose to use limited resources to satisfy unlimited needs/wants

Communication that does not involve the use of words.

Amount of a good/service that businesses are willing/able to make available at a  price.

Restrictions that reduce free trade among countries.

The method a country uses to answer questions of what, how to, & whom to produce it.

A group that consists of parents, children, & other relatives living together

Measure of the total value of all goods & services produced by resources of a country

The process of changing an industry from public to private ownership.

Amount of good/service that consumers are willing & able to purchase at a certain price.

When a country specializes in the production of a good/service at which it is more efficient

Making, buying, & selling goods & services with a country.