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Managing in a Global Business Environment > Module 5 Vocabulary > Flashcards

Module 5 Vocabulary Flashcards

1
Q

A market in which no individual economic actor can affect the price of a good

A

Perfectly competitive market

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2
Q

Market in which single producer is a price maker that can determine the price level by deciding what quantity of a good to produce

A

Monopoly

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3
Q

An international organization that works at standardizing competitive market practices in conjunction with the internal laws of individual nations

A

World Trade Organization

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4
Q

The first American antitrust policy. Established in 1890, it dealt with limiting the power of price-controlling cartels

A

Sherman Antitrust Act

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5
Q

Antitrust court case in which a group of iPhone users have accused Apple of monopolistic practices via the App store

A

Apple Inc vs Pepper

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6
Q

Universal global climate deal aimed at keeping long-term global temperature increase at below 2°C

A

Paris Agreement

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7
Q

Branch of the United Nations that deals specifically with worldwide environmental problems

A

United Nations Environment Program

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8
Q

American environmental act from the 1970s that requires federal agencies to prepare environmental impact statements for every recommendation or report

A

National Environmental Policy Act

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9
Q

American agency established in the 1970s with the goal of monitoring the environmental practices of industry

A

the Environmental Protection Agency

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10
Q

A 2010 industrial accident that is considered the largest oil spill in history

A

Deep Horizon Oil Spill

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11
Q

U.S. law that strengthened the Environmental Protection Agency’s ability to prevent and respond to oil spills

A

Oil Pollution Act of 1990

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12
Q

A US federal law governing water pollution

A

Clean Water Act

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13
Q

A nongovernmental organization involved in anti-sweatshop activities and the implementation of labor laws

A

National Labor Committee

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14
Q

Convention (1999) that aimed to eliminate all practices of child slavery or those similar to slavery

A

Worst forms of child labor convention 1999

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15
Q

Convention (2006) that set out a bill of rights for all seafarers

A

The Maritime Labor Convention 2006

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16
Q

Convention (2011) aimed at protecting domestic workers from abuse and exploitation

A

Domestic Workers Convention 2011

17
Q

Recompense for the injured party by the party that breached the contract

A

Damages

18
Q

A structure of law where those at the top govern those at the bottom

A

Vertical structure of law

19
Q

Source of contract law in the United States

A

Uniform Commercial Code

20
Q

Structure of law where neither party is in a legally dominant position over the other

A

Horizontal Structure

21
Q

Laws that govern disputes in a horizontal structure

A

Horizontal law

22
Q

United Nations treaty that applies to the international sales of commercial goods

A

UN Convention on Contracts for the International Sale of Goods (CISG)

23
Q

A work or invention that is the result of creativity to which one has rights and for which one may apply for a patent, copyright, or trademark

A

Intellectual property

24
Q

Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions

A

Patents

25
Q

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

A

Trademarks

26
Q

Form of protection provided by the laws of the United States to the authors of “original works of authorship,” including literary, dramatic, musical, artistic, and certain other intellectual works

A

Copyright

27
Q

Intellectual property that is kept private

A

Trade secret

28
Q

Established by the United Nations to implement global policy related to intellectual property

A

World Intellectual Property Organization

29
Q

A WTO agreement that governs all IP laws and protects intellectual property rights for global businesses

A

Trade-related aspects of Intellectual Property Rights

30
Q

The legal protections for creations of the mind

A

Intellectual property rights

Managing in a Global Business Environment (14 decks)

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