Chapter 5 (ch. 6 for class lecture) Flashcards
What is nationalization?
It is government seizure of private property and converting it from private to public.o
What is privatization?
It is the selling of government-owned property to the private sector.
What are factors of government protection?
Protection from unfair competition, maintaining predictability and peace, protection from terrorism, cybercrime, and kidnapping.
What is country risk assessment?
An assessment of a country’s economic situation and politics to determine how much risk to employees, property, and investments exists for the firm doing business there.
What are reasons government restricts trade?
Provide for national defense, impose sanctions, protect infant or dying industry, protecting domestic jobs, ensure fair competition, and retaliate.
