Understanding Business/Competing in a Global Market

Chapter Three

Competing In Global Markets

Vocabulary Words

• Importing * Exporting
  
• Free Trade
  
• Comparative Advantage Theory
  
• Absolute Advantage
  
• Balance of Trades
  
• Trade Deficit
  
• Balance of Payments
  
• Dumping
  
• Debtor Nation
  
• Foreign Direct Investment
  
• Export Assistance Centers (EACs)
  
• Licencing
  
• Foreign Subsidiary
  
• Contract Manufacturing
  
• Joint Venture
  
• Ethnocentric