Business 100 Midterm Vocabulary
Terms
undefined, object
copy deck
- Insider Trading
- Information that will affect the price of a company's stock.
- When a country exports more than it imports?
- Trade surplus
- When a country imports more than it exports?
- Trade deficit
- A tax imposed on imports?
- Tariff
- Characteristics of a country (beliefs, etc)
- Culture
- Very large, have operations in countries around the world?
- Multinational Corporation
- When the US dollar buys less foreign currency?
- Low value of the dollar
- How much of one currency you can get for another?
- Exchange rate
- Buying products from another country?
- Importing
- When the US dollar can buy more of another currency?
- High value of the dollar
- Where a company has its headquarters?
- Home country
- Something is focused/comfortable with dealing with their own culture/country?
- Ethnocentricity
- Selling products to another country?
- Exporting
- Businesses that handle exports for other firms?
- Export Trading Companies
- Where a company has its operations?
- Host country
- The ratio (comparison) of exports to imports?
- Balance of trade
- A systematic evaluation of an organization's progress toward impletmenting programs that are socially responsible and responsive?
- Social Audit
- Dimension of responsibility that includes everything from hiring minority workers to making safe products?
- Corporate Social Reponsibility
- When someone should act in the best interest of the client but doesn't?
- Conflict of interest
- Trading Bloc of South America?
- Mercosur
- A legally protected name, symbol, design, or combination that identifies that goods or services of one seller and distinguishes them from competitors?
- Trademark
- A legally enforceable agreement between two or more parties?
- Contract
- A wrongful act that causes injury to another person's body, property, or reputation?
- Tort
- Passed by local, state, Federal, congress, legislatures (written)?
- Statutory law
- The monetary settlement awarded to a person who is injured by a breach of contract?
- Damages
- People who report illegal or unethical behavior?
- Whistle blowers
- The decisions of judges in certain cases?
- Precedent
- Law that doesn't concern criminal penalties?
- Civil law
- Dimension of social responsibility that includes charitable donations?
- Corporate Philanthropy
- Requires all publicly traded companies to spend more money on compliance (increased accounting)?
- Sarbanes-Oxley Act
- First that hears cases / where evidence is presented?
- Trial Court
- A social movement that seeks to increase and strengthen the rights and powers of buyers in relation to sellers?
- Consumerism
- Those who want to know where their money is going and for what purpose?
- Socially Conscious Investors
- In Tort Law, behavior that causes unintentional harm or injury?
- Negligence
- Part of Tort Law that holds businesses liable for harm that results from the production, design, sale, or use of products they market?
- Product Liability
- A document that gives inventors exclusive rights to their inventions for 20 years?
- Patent
- A partnership in which two or more companies join?
- Joint venture
- A document that protects a creator's rights to materials such as books, articles, photos, cartoons, etc...
- Copyright
- Something of value, one of the requirements for a legal contract?
- Consideration
- A company in a foreign country owned by a large international one?
- Foreign subsidiary
- Highest in the land, anything can be brought there?
- Supreme Court
- Where appeals take place?
- Appellate Court
- Agreement that created a free trade area among the US, Mexico, and Canada?
- NAFTA (North American Free Trade Agreement)
- 25 countries that have eliminated all trade barriers with each other?
- European Union
- When one party fails to follow the terms of a contract?
- Breach of contract
- The body of law that comes from decisions handed down by judges (unwritten)?
- Common Law
- Government withdrawl of certain laws and regulations that seem to hinder competition?
- Deregulation
- Buying property/businesses in a foreign country?
- Foreign direct investment
- When a host country government seizes an asset from a multinational corp without paying for it?
- Expropriation
- A group of countries that get together for international trade purposes?
- Trading Bloc
- Anything other than an import tax?
- Non-tariff barrier
- The use of government regulations to limit the import of goods and services?
- Trade protectionism
- Selling products in a foreign country at lower prices than in the producing country?
- Dumping
- A limit on the number of products that can be imported?
- Import Quota
- Difference between money entering the country (exports) and money leaving the country (imports)?
- Balance of payments
- When payment is made internationally with anything but money?
- Countertrading
- Settles disputes between countries?
- WTO (World Trade Organization)
- Prohibits American companies from making bribes to foreign customers for business?
- The Foreign Corrupt Practices Act
- When one company allows another to produce its product for a fee (royalties)?
- Licensing
- Company hires another to manufacture its product?
- Contract Manufacturing
- When a currency has a decline in value?
- Devaluation