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Business in a Borderless World

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