Chapter1 Peng Flashcards
Base of the Pyramid:
: Economies where people make less than $2,000 per capita per
year
BRIC
Brazil, Russia, India, and China
Emerging Economies
A term that has gradually replaced the term “developing countries” since the 1990s.
Emerging Markets
- A term that is often used interchangeably with “emerging economies.”
Expatriate manager (expat)
A manager who works abroad, or “expat” for short.
Foreign Direct Investment (FDI)
Investment in, controlling, and managing value-added activities in other countries
Global Business
Business around the globe.
Globalization
The close integration of countries and peoples of the world.
Gross Domestic Product (GDP)
The sum of value added by resident firms, households, and governments operating in an economy.
Gross National Income
GDP plus income from non-resident sources abroad. GNI is the term used by the World Bank and other international organizations to supersede the term GNP.
Gross National Product (GNP)
GDP plus income from non-resident sources abroad.
Group of 20 (“The G-20”)
The group of 19 major countries plus the European Union (EU) whose leaders meet on a biannual basis to solve global economic problems.
International Business
1) A business (or firm) that engages in international (crossborder) economic activities and/or (2) the action of doing business abroad.
International Premium
A significant pay raise when working overseas.
Liability of Foreignness
The inherent disadvantage that foreign firms experience in host countries because of their non-native status.
Purchasing Power Parity (PPP)
A conversion that determines the equivalent amount of goods and services that different currencies can purchase.
