Global Business

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culture

Back 1

is the accepted behaviors, custom and values of society.

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exports

Back 2

products sold in others countries

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international business

Back 3

includes all business activities needed to create ship and sell good and services across national borders

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trade barriers

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restrictions that reduce free trade among countries.

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absolute advantage

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exist when country can produce a good service at a lowers cost than other countries.

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balance of trades

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is the difference between a country exports and imports.

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comparative advantage

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a country specializes in the production of a good or service at which it is relatively more efficient.

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consumer price index

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the CPI is a federal government report published by the bureau of labor statistics

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economics

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the study of how people choose to use limited resource to satisfy their unlimited needs and wants is called

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economic system

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is the method a country uses to answer the basic economic question

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factors of production

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which are three types of resource used to produced goods and service.

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foreign debt

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is the amount a country owes to other countries

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gross domestic production

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measure the output of goods that a country produces within its borders

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gross national product

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measure the total value of all goods and service produced by the resource of a country

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infrastructure

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refer to a nation transportation communication and utility system

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scarcity

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refers to the limit resource avaliabe to satisfy the unlimited resources

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supply

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is the relationship between the amount of a good or service that business are

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risk

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a situation that presents the chance of a loss due to probabilities unknown

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economic

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a risk which result in the decline of a company economic value from currency movement which causes a loss in competitive

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exchange rate risk

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a risk in which the exchange rates of either of either of the two countries will fluctuate

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credit/sale risk

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a risk associated with the sale and accompanying transaction between two foreign markets

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high dependency risk

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occurs when a country depends too greatly on imports from one single country or when a country depends too greatly on a very large number of exports to one single country

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political risk

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a risk of politically motivated interference of a foreign

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economics

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way in which humans allocate scarce resource to produce various commodities and how those commodities are distributed for societal consumption

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human necessities

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good services necessary to survival

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human wants

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goods and services desired but on necessary for survival

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land

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natural resources found on earth includes everything contained in the earth or the seas

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labor

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human resources includes all people who work within an economy

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capital

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monetary resources needed to start and operate a business or goods used in the production proces

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entrepreneurship

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human skills required to start and run a business

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resources

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materials used the make goods and services also referred to as factors of production

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time utility

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degree to which a product or service is a available at a necessary or convenient time of day week a month or year

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form utility

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degree to which a product or services is useful or desirable due to its form (the raw materials or parts it is made of)

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possession utility

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degree to which a product or service is easy to purchase or pray for

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information utility

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degree to which a product or service is easy to learn about gain information about and understand

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utility

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added value marketing adds to a product

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mixed economies

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elements of both market and command system are found in the economy