Module 1 Vocabulary Flashcards
Worldwide interconnections in virtually every sphere of activity including the spread of products, technology, information, and job opportunities. _____________ can result in blurred boundaries between nations, organizations, and investors
Globalization
The action of buying and selling goods and services
Trade
To obtain goods or services from an outside or foreign supplier
Outsource
Financial assets such as funds but also equipment, facilities, and other means of production
Capital
the transmission of ideas, meanings, and values around the world in such a way that extends and intensifies social relations.
Cultural globalization
Not for profit organizations that are independent of the government and are active in humanitarian causes
Nongovernmental organizations
Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions
Patents
A government authority or license giving the owner of an invention the right to exclude others from making or selling the invention for a set period of time
Copyrights
Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others
Trademarks
A monetary contract between parties
Financial Instruments
Being responsible for a debt or financial obligation, something you owe
Liabilities
A useful or valuable thing; something you own such as building, inventory, or cash
Assets
A large corporation incorporated in one country which produces or sells goods or services in various countries
Multinational firms
The sequence of processes involved in the production and distribution of a commodity
Supply chain
A proportionate savings in costs gained by an increased level of production
Economies of scale
