International Business
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International Business - Leaderboard
International Business - Details
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120 questions
| 🇬🇧 | 🇬🇧 |
| International treaty that committed signatories to lowering barriers to the free flow of goods across national borders and led to the World Trade Organization (WTO) | Genetal Agreement on Tariffs and Trade (GATT) |
| Any firm that engages in international trade or investment. | International Business |
| International institution set up to maintain order in the international monetary system | International Monetary Fund (IMF) |
| Occurs when a firm exports goods or services to consumers in another country | International Trade |
| A firm that owns business operations in more than one country | Multinational enterprise (MNE) |
| Organization that succeeded the General Agreement on Tarriffs and Trade (GATT) as a result of the succesfull completion of the Uruguay Round of GATT negotiations | World Trade Organization (WTO) |
| Ability of a country to produce a good more efficiently than any other country at producing it. | Absolute Advantage |
| Costs stay the same as specialization increases | Constant returns to specialization |
| Cost advantages associated with large-scale production. | Economies of scale |
| Situation in which an economic gain by one country results in a economic loss by another | Zero-sum game |
| National accounts that track both payments to and receipts from foreigners | Balance of payments account |
| In the balance of payments, records transactions involving the exports or import of goods and services. | Current Account |
| Knowledge spillovers | Externalities |
| The amount of foreign direct investment undertaken over a given time period (normally one year) | Flow of FDI |
| Establishing a new operation in a foreign country | Greenfield investment |
| Flow of foreign direct investment into a country | Inflows of FDI |
| A theory that seeks to explain why firms often prefer FDI over licensing as a strategy for entering foreign markets | Internalization Theory |
| Asspects of a market that make transactions less efficient than they could be or that endanger the strategic advantages held by a company. | Market imperfections |
| An agreement that would make it illegal for signatory states to discriminate against foreign invesors, would have liberalized rules governing FDI between OECD states | Multilateral agreement on investment (MAI) |
| Arises when two or more enterprises encounter each other in different regional markets, national markets or industries | Multipoint competition |
| Flow of foreign direct investment out of a country | Outflows of FDI |
| The total accumulated value of foreign - owned assets at a given time. | Stock of foreign direct investment |
| Tariff levied as a proportion of the value of an imported good | Ad valorem tariff |
| Bureaucratic rules adopted by governments used to restrict imports or boost exports | Administrative trade policies |
| Policies to design to punish foreign firms that engage in dumping and thus protects domestic producers from unfair foreign competition | Antidumping policies |
| Antidumping duties | Countervailing duties |
| Act passed in 1996 that allowed Americans to sue foreign firms that use Cuban property confiscated from them after the 1959 revolution. | Helms-Burton Act |
| Demand that some specific fraction will be produced domestically | Local content requirement |
| Tax levied on imports | Tariff |
| Quota on trade imposed from the exporting country's side, instead of the importer's: usually imposed at the request of the importing country's government | Voluntary export restraint (VER) |
| 1969 Agreement among Bolovia, Chile, Ecuador, Columbia and Peru to establish a customs union | Andean Pact |
| An attempt to establish a free trade area among Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, the Philippines, Thailand and Vietnam | Association of Southeast Asian Nations (ASEAN) |
| Unites six CARICOM members in agreeing to lower trade barriers and harmonize mocroeconomic and monetary policies | Carribean Single market and economy (CSME) |
| An association of English-speaking Caribbean states that are attempting to establish a customs union | CARICOM |
| The agreement of the member states of the Central American Common Market joined by the Dominican Republic to trade freely with the United States | Central America free trade agreement (CAFTA) |
| A trade pact among Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua, which began in the early 1960s but collapsed in 1969 due to war | Central American Common Market |
| A free trade association including Norway, Iceland, Liechtenstein, and Switzerland | European Free Trade Assiciation (EFTA) |
| NAFTA-related Mexican work zones of cheap labour that are commonly found along the Texas-Mexican borders | Maquilladoras |
| A group of countries where similarities among the economic structures of countries make it feasible to adopt a single currency | Optimal currency area |
| Involves short-term movement of funds from one currency to another in hopes of profiting from shifts in exchange rates | Currency speculation |
| Simultaneous purchase and sale of a given amount of foreign exchange for two different value dates | Currency swop |
| A market where prices reflect all available information | Efficient market |
| Nonresidents can convert their holdings of domestic currency into foreign currency, but the ability of residents to convert the currency is limited in some way | Externally convertible currency |
| A market for converting the currency of one country into that of another country | Foreign exchange market |
| The risk that changes in exchange rates will hurt the profitability of a business deal | Foreign exchange risk |
| When two parties agree to exchange currency and execute a deal at some specific date in the future | Forward exchange |
| The exchange rates governing forward exchange transaction | Forward exchange rate |
| Draws on economic theory to construct sophisticated econometric models for predicting exchange rate movements | Fundamental analysis |
| A market in which prices do not reflect all available information | Inefficient market |
| For any two countries, the spot exchange rate should change in an equal amount but in the opposite direction to the difference in nominal interest rates between countries | International Fisher Effect |
| A currency is not convertible when both residents and nonresidents are prohibited from converting their holdings of that currency into another currency | Nonconvertible currency |
| One in which few impediments to international trade and investment exist (prekazka = impediments) | Relatively efficient markets |
| The exchange rate at which a foreign exchange dealer will convert one currency into another that particular day | Spot exchange rate |
| Uses price and volume data to determine past trends, which are expected to continue into the future | Technical analysis |
| A loss of confidence in the banking system that leads to a run on banks as individuals and companies withdraw their deposits | Banking crises |