AFM131 Midterm: Midterm #1 Review 9 pages of notes including all of the definitions and points from the globalization module to the accounting module

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Robert Sproule

Document Summary

Domestic workers may lose jobs, may hire other workers in favor of paying lower wages. Access to foreign investments keeps interest rates low. Small businesses in canada are 48% private, provide 85% of exports. Very dependent on the states, 68. 8% of our imports and 73. 5% of exports b/c of close proximity, financial similarity, fresh water, minerals, close exchange rate, similar political views, culture, language, auto pact. Priority markets (greatest potential for growth: association of south east asian nations, australia & new zealand, brazil, china, europe, gulf. India: japan, korea, latin america & caribbean, mexico, russia, usa. Sociocultural factors culture: set of values, beliefs, rules and institutions such as religion, manners, customs, values, language, attitudes ethnocentricity: attitude that one"s own culture is superior to others. General agreement of tariffs & trade: 1948 agreement that established an international forum for negotiating mutual reductions in trade restrictions, between 23 nations. World trade organization: replaced gatt, mediates trade disputes among nations, 153 nations.