Chapter 3 Exploring Global Business Flashcards
Selling and shipping raw materials or products to other nations.
Exporting.
Provides a link between buyers and sellers in different counteries.
Trading Company.
A negative balance of trade.
Trade Deficit.
Exploration of large quantities of a product at a price lower than that of the same product in the home market.
Dumping.
The total value of a nations exports minus the total value of it’s imports over some period of time.
Balance Of Trade.
A contractual agreement in which one firm permits another to produce and market its product and use its brand name in return for a royalty or other compensation.
Licensing.
A tax levied on a particular foreign product entering a country.
Import Duty.
Purchasing raw materials or products in other nations and bringing them into ones own country.
Importing.
Issued by the exporters bank ordering the importers bank to pay for the merchandise thus guaranteeing payment once accepted by the importers bank.
Draft.
A complete halt to trading with a particular nation or in a particular product.
Embargo.
A nontax measure imposed by a government to favor domestic over foreign suppliers.
Non Tariff Barrier.
