BUSI 2701 Midterm: BUSI 2701 - Midterm Key Terms
8 Feb 2017
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Document Summary
Exchange of goods and services for money to make profit. Refers to the shift toward a more integrated and interdependent world economy. Refers to the merging of separate national markets into one huge global marketplace. The tastes and preferences of consumers in different nations are beginning to converge. Refers to the sourcing of goods and services from locations around the world to take advantage of national differences and costs. As transportation costs associated with the globalization of production declined, dispersal of production to geographically widespread locations became more economical. Help manage, regulate, and police the global marketplace. Promote the establishment of multinational treaties to govern the global business system. Cooperates in solving international problems and in promoting respect for human rights. A forum for negotiating trade and related issues if can not be resolved on a bilateral basis. Regulates the world trading systems negotiate trade agreements.
