COMMERCE 2MA3 Chapter Notes - Chapter 11-17: Radio-Frequency Identification, Warehouse Club, Integrated Marketing Communications
9 Nov 2017
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Document Summary
Globalization: refers to the increased flow of goods, services, people, technology, capital, information, and ideas around the world (has economic, political, social, cultural, and environmental impacts) Trade sanctions: penalties or restrictions imposed by one country for importing and exporting of goods services, and investments. Tariff (or duty): a tax levied on a good imported into a country. Dumping: the practice of selling a good in a foreign market at a price lower than is domestic price or below its cost. Quota: designates the maximum quantity of a product that may be brought into a country during a specified time period. Boycott: a group"s refusal to deal commercially with some organization to protest against its policies. Exchange control: refers to the regulation of a country"s currency exchange rate. Exchange rate: the measure of how much one currency is worth in relation to another. Trade agreement: intergovernmental agreement designed to manage and promote trade activities for specific regions.
