Management and Organizational Studies 2320A/B Chapter Notes - Chapter 17: Human Development Index, World Trade Organization, Individualism

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Assessing global markets: pest - political, economic, sociocultural and technology, a more complete picture of a country"s potential as a market for products and services. Trade sanctions: penalties or restrictions imposed by one country over another country for importing and exporting of goods, services and investments. Embargo: a form of trade sanction that prohibits trading with a certain country or trading in specific goods by other signatory countries. Tariff/duty: a tax levied on a good imported into a country. Intended to make imported goods more expensive - less competitive with domestic products: protects domestic industries, artificially raise prices --> lower demand. Imposed to penalize another country for trade practices that the home country views as unfair. Dumping: the practice of selling a good in a foreign market at a price that is lower than its domestic price or below its cost.