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International Trade Tenz > FINALS > Flashcards

FINALS Flashcards

1
Q

Great Britain members

A

England, Scotland, Wales and Northern Ireland.

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2
Q

AFTA Meaning

A

ASEAN Free Trade Area

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3
Q

NAFTA Meaning

A

North American Free Trade Agreement

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4
Q

EU Meaning

A

European Union

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5
Q

2 party in US

A

Democratic Party
Republican Party

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6
Q

voluntarily offered payment by someone seeking unlawful advantage.

A

Bribery

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7
Q

payments are extracted under duress by someone in authority from a person seeking only what they are lawfully entitled to.

A

Extortion

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8
Q

involves a relatively small sum of cash, a gift, or a service given to a low-ranking official in a country where such offerings are not prohibited by law.

A

Lubrication

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9
Q

generally involves giving large sums of money-frequently not properly accounted for- designed to entice an official to commit an illegal act on behalf of the one offering the bribe.

A

Subornation

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10
Q

3 Ethical Principles

A

Utilitarian Ethics
Rights of the parties
Justice or Fairness

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11
Q

does the action optimize the common good or benefits of all constituencies?

A

Utilitarian ethics

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12
Q

does the action respect the rights of the individuals involved?

A

Rights of the parties

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13
Q

does the action respect the canons of justice or fairness to all parties involved?

A

Justice or Fairness

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14
Q

is independent and free from all external control; enjoys full legal equality with other states; governs its own territory; selects its own political, economic, and social systems.

A

souvereign state

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15
Q

refers to both the powers exercised by a state in relation to other countries and the suprreme powers exercised over its own members.

A

souvereignty

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16
Q

Important factors in assesing business climate

A

political parties
Nationalism

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17
Q

an intense feeling of national pride and unity an awakening of a nation’s people to pride in their country.

A

Nationalism

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18
Q

Political risks of global business

A

confiscation
Expropriation
Domestication

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19
Q

seizing of a comany’s assets without payment. This the most severe political risk.

A

Confiscation

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20
Q

less drastic, that requires some reimbursement for the government-seized investment.

A

expropriation

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21
Q

occurs when host countries take steps to transfer foreign investments to national control and ownership through a series of government decrees.

A

Domestication

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22
Q

Economic Risks

A

Exchange controls
local-content Laws
Import Restrictions
Tax Controls
Price Controls
Labor Problems

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23
Q

one or a group of nations may boycott another nation, thereby stopping all trade between the countries, or may issue sanctions against the trade of specific products.

A

political Sanctions

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24
Q

this can also interrupt the normal flow of trade.

A

Political and social Activist

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25
Q

Strategies to lessen political Risk

A

Joint Ventures
Expanding the investment Base
Marketing & Distribution
Licensing
Planned Domestication

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26
Q

an approach in dealing with political vulnerability. This is an attempt to lessen political risks by paying those in power to intervene on behalf of the MNC.

A

Political Payoffs

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27
Q

MNC Meaning

A

Multinational Corporation

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28
Q

Can be with locals orother third-country multinational companies

A

Joint Ventures

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29
Q

will include several investors and banks in financing an investment in the host country.

A

Expanding the Investment Base

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30
Q

controlling the distribution in markets outside the country.

A

Marketing & Distribution

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31
Q
  • a strategy that eliminates almost all risks is to license for a fee.
A

Licensing

32
Q

a strategy that can be effective in forestalling or minimizing the effect of a total takeover.

A

Planned Domestication

33
Q

give example of independence of a souvereign state

A

is independent and free from all external control;
enjoys full legal equality with other states; governs its own territory;
selects its own political, economic, and social systems.

34
Q

United Arab Emirates

A

Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al-Quwain, and Fujairah

35
Q

also known as Sharia Law

A

Islamic Law

36
Q

unclos meaning

A

United Nations Convention on the Law of the sea

36
Q

is tradition, past practices, and legal precedents set by the courts through interpretations of statutes, legal legislation, and past rulings

A

Common Law

37
Q

. It derived from English Law and found in England, the United States, Canada, and other countries under English influence.

A

Common Law

38
Q

is based on an all-inclusive system of written rules

A

Code Law

39
Q

The legal system is generally divided into three separate codes

A

Commercial Law
Civil Law
Criminal Law

40
Q

It derived from Roman LAw and found in Germany, Japan, France, and in non-Islamic and non-Marxist countries

A

Code Law

41
Q

is interpretation of the Koran

A

Islamic Law

42
Q

It encopasses religious duties and obligations as well as the secular aspect of law regulating human acts

A

Islamic Law

43
Q

It is a complete system that prescribes specific patterns of social and economic behavior for all individuals. Its overriding objective is social justice.

A

Islamic Law

44
Q

also called legal code

A

Code of law

45
Q

, is a type of legislation that purports to exhaustively cover a complete system of laws

A

Code of Law

46
Q

a particular area of law as it existed at the time the code was enacted, by a process of

A

Codification

47
Q

also known as mercantile law or trade law

A

Commercial Law

48
Q

is the body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales

A

Commercial Law

49
Q

It is often considered to be a branch of civil law and deals with issues of both private law and public law.

A

Commercial Law

50
Q

Commercial law includes within its compass such

A

titles as principal and agent;
carriage by land and sea;
merchant shipping; guarantee;
marine, fire, life, and accident insurance;
bills of exchange,
negotiable instruments,
contracts and partnership.

51
Q

The system of law concerned with private relations between members of a community rather than criminal, military, or religious affairs.

A

Civil Law

52
Q

The part of the legal system which relates to punishing people who have committed a criminal act

A

Criminal Law

53
Q

is a religious law forming part of the Islamic tradition

A

Sharia Law

54
Q

It is derived from the religious precepts of Islam, particularly the Quran and the hadith

A

Sharia Law

55
Q

refers to God’s immutable divine law and is contrasted with fiqh, which refers to its human scholarly interpretations

A

shari’ah

56
Q

refers to its human scholarly interpretations

A

Fiqh

57
Q

The manner of its application in modern times has been a subject of dispute between

A

Muslim Fundamentalists
Modernists

58
Q

also known as soviet law

A

Socialist law

59
Q

denotes a general type of legal system which has been (and continues to be) used in socialist and formerly socialist states

A

Socialist Law

60
Q

It is based on the civil law system, with major modifications and additions from Marxist-Leninist ideology

A

Socialist Law

61
Q

also known as public international law and law of nations

A

International Law

62
Q

, is the set of rules, norms, and standards generally accepted in relations between nations.

A

International Law

63
Q

It establishes normative guidelines and a common conceptual framework to guide states across a broad range of domains, including war, diplomacy, trade, and human rights.

A

International Law

64
Q

allows for the practice of stable, consistent, and organized international relations

A

International Law

65
Q

Legal disputes may arise in three (3) situations

A

Between Governments
Between a Company and Government
Between two companies

66
Q

can adjudicate disputes between governments

A

World Court

67
Q

International Dispute Resolution:

A

Conciliation
Arbitration
Litigation

68
Q

is a nonbinding agreement between parties to resolve disputes by asking a third party to mediate differences

A

Conciliation

69
Q

A method of alternative dispute resolution whereby a third party, who is usually but not necessarily neutral, meets with the parties and assists them to find a way to settle their dispute.

A

Conciliation

70
Q

a procedure where the parties involved will select a disinterested and informed party or parties as referee to determine the merits of the case and make a judgement that both parties agree to honor.

A

Arbitration

71
Q

Is a proceeding in which a dispute is resolved by an impartial adjudicator whose decision the parties to the dispute have agreed, or legislation has decreed, will be final and binding.

A

Arbitration

72
Q

An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.

A

Litigation

73
Q

) of the United Nations is responsible for the promotion of the protection of intellectual property and for the administration fo the various multilateral treaties through cooperation among its member states.

A

World Intellectual property Organizations

74
Q

WIPO Meaning

A

World Intellectual Property Organizations

75
Q

is the most comprehensive multilateral agreement on intellectual property rights that are embodied in current international agreements.

A

Trade-Related Aspects of Intellectual Property Rights

76
Q

TRIPs MEANING

A

Trade-Related Aspects of Intellectual Property Rights

International Trade Tenz (5 decks)

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