Global Market Review (Ch 3 -part 1)

When a business gives the rights for others to use their business name and sell their product or service

The value of one nation's currency relative to the currencies of other countries

Movement of goods and services among nations without political or economic barriers

A complex form of bartering when several countries are involved

Buying permanent property and businesses in a foreign nation

A tariff designed to raise money for the government

When exports exceed imports (a trade surplus)

The total value of a nation's exports compared to its imports, measured over a period of time

A partnership between companies from 2 countries that join for a major project

Set of values, beliefs, rules and institutions held by a specific group of people

A global strategy in which a company allows a foreign company to produce its product for a fee

When exports are less than imports (a trade deficit)

A raise in retail price of imported products so domestic goods are more competitively priced

Exchange of merchandise for merchandise or service for service, no money is exchanged

A complete ban on imports or exports of a certain product or stopping trade with a country

When a foreign company produces a private label good and the domestic company adds its brand name or trademark

The misuse of public power for private benefit

Buying products from another country

Selling products to another country

Limits the number of products in certain categories a nation can import

A long-term partnership between 2 or more companies to help each build a competitive market advantage

Use of government regulations to limit the import of goods and services

Countries exchanging goods, services and more (sports, medicine, space exploration, art, etc.)

Says a country should sell what it can produce most effectively and efficiently

Lowers the value of a nation's currency relative to other currency

The difference between money received from exports and imports

If a country can produce a specific product more efficiently than all other countries