BUAD301 Chapter Notes - Chapter 2: Perfect Competition, General Agreement On Tariffs And Trade, Franchising

• School: University of Delaware
• Department: Business Administration
• Course: BUAD301
• Professor: Townsend Donald

Document Summary

Greenhouse effect: pollution of carbon dioxide/other greenhouse gasses. World trade: the flow of goods and services among different countries (total value of imports and exports of the world"s nations) Requires flexibility in order to serve needs of remote markets. Steps in the decision process to enter global markets. How to adapt to marketing mix strategies. Understand international, regional, and country global trade controls. General agreement on tariffs and trade (gatt): international treaty to reduce import tax levels and trade restrictions. World trade organization (wto): replaced gatt, sets trade rules for its member nations and mediates disputes between nations. World bank: international lending institution that seeks to reduce poverty by improving economies/promoting sustainable development. International monetary fund (imf): seeks to ensure the stability of the international monetary exchange by controlling exchange rate fluctuations. Helps prevents balance of payments" problems: how much trade a country has going out vs how much it has coming in.