Gms723 final terms
International Trade (Toronto
Metropolitan University)
, GMS 723 Final Exam
Terms
Andean Pact A customs union between Bolivia, Colombia, Peru, and
Ecuador
Anti-Dumping
Tax charged on an imported product that is priced below
normal market prices or below cost
3. ASEAN A free trade agreement between Indonesia, Thailand, Singapore,
(Associa- tion of Malaysia, Philip- pines, Vietnam, Brunei, Cambodia, Myanmar, and Laos
Southeast Asian
Nations)
4. Autonomou Trade that is conducted on its own
s Trade
5. BCG Matrix a means of evaluating strategic business units on the basis of (1)
their business growth rates and (2) their share of the market
6. Bill of Lading A document that provides the terms of the contract between the shipper
and
the transportation company to move freight between stated points at a
specified
charge
7. Buyer Insolvency When aa buyer can no longer meet their financial obligations to
lenders
8. Capitalism An economic and political system in which a country's trade and industry
are
controlled by private owners for profit, rather than by the state
9. Clear Commerce Commerce without restriction
10. Collectivism The practice or principle of giving a group priority over each individual in
it
11. Common Market No barriers to trade between member countries. A common external
trade policy. Free movement of the factors of production
12. Commonwealth (CON)
of Nations
International Trade (Toronto
Metropolitan University)
, GMS 723 Final Exam
Terms
Andean Pact A customs union between Bolivia, Colombia, Peru, and
Ecuador
Anti-Dumping
Tax charged on an imported product that is priced below
normal market prices or below cost
3. ASEAN A free trade agreement between Indonesia, Thailand, Singapore,
(Associa- tion of Malaysia, Philip- pines, Vietnam, Brunei, Cambodia, Myanmar, and Laos
Southeast Asian
Nations)
4. Autonomou Trade that is conducted on its own
s Trade
5. BCG Matrix a means of evaluating strategic business units on the basis of (1)
their business growth rates and (2) their share of the market
6. Bill of Lading A document that provides the terms of the contract between the shipper
and
the transportation company to move freight between stated points at a
specified
charge
7. Buyer Insolvency When aa buyer can no longer meet their financial obligations to
lenders
8. Capitalism An economic and political system in which a country's trade and industry
are
controlled by private owners for profit, rather than by the state
9. Clear Commerce Commerce without restriction
10. Collectivism The practice or principle of giving a group priority over each individual in
it
11. Common Market No barriers to trade between member countries. A common external
trade policy. Free movement of the factors of production
12. Commonwealth (CON)
of Nations
