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  1. Globalization
    trend away from distinct national economic units and toward one huge global market
  2. Globalization of Markets
    National markets are merging into one global market
  3. Globalization of production
    Trend by individual firms to disperse part of their productive
  4. Factors of Production
    inputs into the productive process of a firm, including labor, management, land, capital, tech
  5. General Agreement on Tariffs and Trade (GATT)
    International treaty that committed signatories to lowering barriers to the free flow of goods across national borders and led to the WTO
  6. World Trade Organizations
    organization that succeeded the GATT
  7. International Monetary Fund
    international institution set up to maintain order in the international monetary system
  8. World bank
    international institution set up to promote general economic development in the world’s poorer nations
  9. United nations
    193 countries, formed in 1945 to promote peace, security, cooperation
  10. Group of twenty
    comprises the finance ministers and central bank governor of the 19 largest economies in the world, plus reps from EU and EU central bank
  11. International Trade
    occurs when a firm's export goods or services to consumers in another country
  12. Foreign Direct Investments
    investment in foreign business
  13. Moore's Law
    microprocessors power doubles and cost goes down by ½ every 18 months
  14. Stock of foreign direct investment
    total accumulated value of foreign owned assets at a given time
  15. Multinational Enterprise
    firms that own business in other countries
  16. International Business
    Firms that engage in trade or investments internationally
Card Set:
2017-02-02 22:52:18

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