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Business in a Borderless World

Across
corporation that operates on a worldwide scale without significant ties to any one nation or region
balance of _______ is difference between flow of $$ into and out of a country
General Agreement on Tariffs and Trade
value of imports vs exports
advantage derived from specializing in products that can be supplied more efficiently or at lower cost than other products
buying, selling, and trading of goods and services across national boundaries
transferring tasks like manufacturing or IT services to countries where labor and supplies are less expensive
selling goods and services to foreign markets
restriction on import quantity
ratio at which one nation’s currency can be exchanged for another nation’s currency
Down
group of firms or nations that agrees not to compete
trade prohibition
imports > exports
works to promote trade by eliminating trade barriers and encouraging financial cooperation
a form of licensing
monopoly that exists for the only supplier of an item
foreign partner + local company share costs and business operations
deals with rules of trade between nations
encourages trade among Canada, Mexico, and the US
selling products at a loss
buying goods and services from foreign sources