INT 113 - Exam 1

Company that adopts a global perspective and engages in international business from or near its inception.

• Globalization

• Born global firm

• International Monetary Fund

• Gross domestic product (GDP)

Treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade

• GDP or GNP per capita

• Gross national Product (GNP)

• Sustainability

• General Agreement on Tariffs and Trade (GATT)

International organization that enforces the rules of international trade.

• World Trade Organization (WTO)

• World Bank

• International business

• General Agreement on Tariffs and Trade (GATT)

Business that has direct investments abroad in multiple countries.

• Sustainability

• International Monetary Fund

• Multinational corporation (MNC)

• International business

Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

• Globalization

• GDP or GNP per capita

• E-business

  (E-commerce)

• International Monetary Fund

System of social stratification in which personal ability and actions determine social status and mobility

• Caste system

• Economic system

• Legal system

• Class system

Study of how a country manages its affairs by using its political, economic, and legal systems.

• Political economy

• Mixed economy

• Market economy

• Centrally planned economy

Relative ability of two countries’ currencies to buy the same “basket” of goods in those two countries.

• Newly industrialized country (NIC)

• Purchasing power parity (PPP)

• Human development index (HDI)

• Value added tax (VAT)

Legal system based on a detailed set of written rules and statutes that constitute a legal code.

• Civil law

• Common law

• Antitrust (antimonopoly) laws

• Theocratic law

Use of computer networks to purchase, sell, or exchange products; to service customers; and to collaborate with partners

• Culture

• Centrally planned economy

• United Nations

• E-business

  (E-commerce)