GMS723: Module 3.2 Flashcards
What is the grey market?
The business practice of buying goods from one country where the price is artificially low and selling in another where price is artificially high
What is an example of the grey market?
Buying a container load of brand name stereos in Africa or Asia and selling them in North America
What are 3 characteristics of Grey Marketers?
- Handle only brand name products like Sony, Sanyo, IBM, etc.
- Ignore or bypass authorized distributors
- Sell in foreign markets at a discount to the MSRP authorized manufacturer
What is the Black Market?
- Illegal
- Goods traded here are smuggled into the country
- Products tend to be illicit - drugs, exotic animals, human organs, weapons
- Usually a cash exchange
What percentage of Greece, Italy, and Canada’s GDP is from black market exchanges respectively?
- Greece: 21.5%
- Italy: 19.8%
- Canada: 9.8%
What is the white market?
- An open market
- All trading takes place according to rules and regulations
What are Federal and State Government sources for the US respectively?
Federal (all .gov)
- census
- trade
- ustr (US Trade Representative)
State
- cdph (California Department of Public Health)
- Michigan
- Business
What are Federal and Provincial Government sources for Canada respectively?
Federal
- Canada.ca
- International.gc.ca
- cbsa-asfc.gc.ca (Canadian Border Services Agency)
Provincial
- Saskatchewan
- Ontario
- Alberta
What are helpful sources?
- WITS (World Integrated Trade Solutions)
- Canadian Foreign Direct Investment (Trading Economics)
- World GDP Growth Rate (marcotrends.net)
What are Canadian Prov
