glo bus chapter 7
1. the ability to produce a good using fewer inputs than another producer: ab-
solute advantage
2. the difference between a country's total exports and total imports: balance
of trade
3. the ability to produce a good at a lower opportunity cost than another
producer: comparative advantage
4. private label manufacturing by a foreign company: contract manufacturing
5. goods sold to other countries: exports
6. a capital investment that is owned and operated by a foreign entity: foreign
direct investment
7. a company owned in a foreign country by another company, called the
parent company: foreign subsidiary
8. agreement in which a domestic company (franchiser) gives a foreign com-
pany (franchisee) the right to use its brand and sell its products.: international
franchise
9. a partnership of two or more participating companies that have joined
forces to create a separate legal entity: international joint ventures
10. an organizational relationship that allows companies in different countries
to pool resources and share risks as they enter new markets: international
strategic alliance
11. an owner's authorization or permission for another entity to be trade-
marked, copyrighted, etc.: liscensing
12. an organization that manufactures and markets products in many different
countries and has multinational stock ownership and multinational manage-
ment: multinational corporation
13. non tax methods of increasing the cost or reducing the volume of imported
goods: non-tariff barriers
14. products that are not easily tradable due to their inherent characteristics-
: non tradable goods and services
15. whatever must be given up to obtain some item: opportunity cost
16. when large industrialized nations seek to set up factories or offices abroad,
they will often look for the cheapest option in terms of resources and labor
that offers the land and material access they require: pollution haven
17. a limited or fixed number or amount of people or things, in particular.: quota
18. tax on imports: tariff
19. situation in which a country imports more than it exports: trade deficit
20. policies that limit imports: trade protection
21. when a country exports more than it imports: trade surplus
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1. the ability to produce a good using fewer inputs than another producer: ab-
solute advantage
2. the difference between a country's total exports and total imports: balance
of trade
3. the ability to produce a good at a lower opportunity cost than another
producer: comparative advantage
4. private label manufacturing by a foreign company: contract manufacturing
5. goods sold to other countries: exports
6. a capital investment that is owned and operated by a foreign entity: foreign
direct investment
7. a company owned in a foreign country by another company, called the
parent company: foreign subsidiary
8. agreement in which a domestic company (franchiser) gives a foreign com-
pany (franchisee) the right to use its brand and sell its products.: international
franchise
9. a partnership of two or more participating companies that have joined
forces to create a separate legal entity: international joint ventures
10. an organizational relationship that allows companies in different countries
to pool resources and share risks as they enter new markets: international
strategic alliance
11. an owner's authorization or permission for another entity to be trade-
marked, copyrighted, etc.: liscensing
12. an organization that manufactures and markets products in many different
countries and has multinational stock ownership and multinational manage-
ment: multinational corporation
13. non tax methods of increasing the cost or reducing the volume of imported
goods: non-tariff barriers
14. products that are not easily tradable due to their inherent characteristics-
: non tradable goods and services
15. whatever must be given up to obtain some item: opportunity cost
16. when large industrialized nations seek to set up factories or offices abroad,
they will often look for the cheapest option in terms of resources and labor
that offers the land and material access they require: pollution haven
17. a limited or fixed number or amount of people or things, in particular.: quota
18. tax on imports: tariff
19. situation in which a country imports more than it exports: trade deficit
20. policies that limit imports: trade protection
21. when a country exports more than it imports: trade surplus
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