Internation Business
Democracy
A political system in which government by the people, exercised either directly or through elected representatives
Totalitarianism
A political system in which one person or political party exercises absolute control over all spheres of human life and prohibits opposing political parties
(PPP) Purchasing Power Parity
An adjustment in gross domestic product per capita to reflect differences in the cost of living
BRIC
Brizil Russia India China (emerging economies)
International Monetary Fund and the World Bank
It was established to maintain order in the international monetary system, set up to promote economic development.
Intellectual Property
Property that is the product of intellectual activity
International non governmental
red cross, green peace, scouts
globalization of production
refers to the sourcing of goods and services from locations around the globe to take advantage of national differences in the cost and quality
legal system
rules that regulate behavior and the processes by which the laws of a country are enforced and through which redress of grievance is obtained
contract law
the body of law that governs contract enforcement
Property rights
the bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource
Political economy
The interdependent combination of a country's political economic and legal system
Privatization
The salve of state owned enterprises to private investors
Stock of Foreign Direct Investment
The total accumulated value of foreign-owned assets at a given time
(GNI) Gross National Income
The yardstick for measuring economic activity of a country, this measure the total annual income of a nations residents
Social Democrats
Those who believe in achieving socialism through democratic means
International governmental organization
U.N
Foreign Corrupt Practices Act
U.S law regulating behavior regarding the conduct of international business in the taking of bribes and other unethical actions
Representative democracy
a democracy in which citizens periodically elect individuals to represent them in government functions
contract
a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved
Patent
a legal device that grants the inventor of a new product or process exclusive rights for a defined period of the manufacture, use or sale of that invention
Tribal totalitarianism
a political system in which a party, group or individual that represents the interests of a particular tribe monopolizes political power
Right - Wing totalitarianism
a political system in which political power is monopolized by a party group or individual that generally permits individual economic freedom by restricts individual political freedom, including free speech, often on the grounds that it would lead to the rise of communism
Theocratic totalitarianism
a political system in which political powers is monopolized by a party, group or individual that governs according to religious principles
collectivism
a political system that stresses the primacy of collective goals over individual goals
(CIGS) united nations convention on contracts for the international sale of goods
a set of rules governing certain aspects of the making and performance of commercial contracts between sellers and buyers who have their places of business in different nations
civil law system
a system of law based on a detailed set of writeen laws and codes
theocratic law system
a system of law based on religious teachings
common law
a system of law based on tradition, precedent and custom, which is flexibly interpreted by judges as it applies to the unique circumstances of each case
Communist totalitarianism
a version of collectivism advocating that socialism can only be achieved through a totalitarian dictatorship
(HDI) Human Development Index
an attempt by the UN to assess the impacts of a number of factors on the quality of human life in a country
command economy
an economic system in which the government plans the allocation of resources, including determination of what goods and services should be produced and in what quality
market economy
an economic system in which the interaction of supply and demand determines the quality in which goods and services are produced
world intellectual Property organization
an international organization whose members sign treaties to agree to protect intellectual property
International Business
any firm that engages in international trade or investment
the sunnah
based of profit mechanics
theocratic
based on religion and beliefs (used in Islam)
United Nations
countries committed to preserving peace through international cooperation and collective security
Trademarks
designs and names often officially registered by which merchants or manufactures designate and differentiate their products
copyrights
exclusive legal rights of authors, composers, playwrights, artists, and publishers to publish and dispose of their work as they see it
sectionalism
having interest in ones own region
Product Liability
involves holding a firm and its officers responsible when a product causes injury, death or damage to its usrs
Multinational enterprise (MNE)
is any business that has productive activities in two or more countries.
(GATT) General Agreement on Tariffs and Trade and successor (WTO) World trade organization
is primarily responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by WTO member states.
factors of production
labor, energy, land and capital
Product safety laws
laws that set certain safety standards to which a product must adhere
globalization of markets
merging of historically distinct and separate national markets into one huge global marketplace
International trade
occurs when a firm exports goods or services to consumers in another country. Some barriers were high tariffs to protect from foreign competition
Foreign direct investment (FDI)
occurs when a firm invests resources in business activities outside its home country
public action
the extortion of income or resources from property holders by public officials such as politicians and government bureaucrats
Paris Convention for the protection of industrial property
the oldest international treaty concerning protection of intellectual property which has been signed by 170 nations
Individualism
the philosophy that an individual should have freedom in his or her economic and political pursuits
Socialism
the political system that believes state ownership of a country's means of production distribution and exchange so that all can benefit
Moore's Law
the premise that the power of microprocessor technology doubles and its cost of production drops in half every 18 months
Political system
the system of government in any nation
private action
theft, blackmail and the like by private or individuals or groups
