Chapter 8 - Global Links Flashcards
(23 cards)
appreciation
an upward movement of the Aus dollar (or any currency) against another currency
bicultural
able to appreciate and understand the business practices and customs in the host country
cultural diversity
the multitude of individual differences the exist among people
depreciation
a downward movement of the Australian dollar (or any currency) against another currency
domestic trade
economic transactions that take place within Australia
e-commerce
the buying and selling of information, goods and services via the internet
equities (shares)
ownership entitlements in a company
exports
goods and services sold to another country
foreign aid
financial and technical assistance by government and non-government (private) organisations from developed (high-income) nations to developing (low-income) nations
foreign exchange rate
the ratio of one currency to another, it shows how much a unit of one currency is worth in terms of another
free trade agreement
an agreement between countries that results in reductions in barriers to trade
global consumer
a person who buys goods and services from other countries
globalisation
the movement across nations of people, goods, money and ideas
Gross Domestic Product (GDP)
the total value of all goods and services produced in an economy in a given year
imports
goods and services bought from another country
intellectual property
property that is created by an individual’s intellect; a song poem, novel and so on
international (global) trade
the buying ands selling of goods and services between nations
labour standards
those conditions that affect a business’s employees, or those in its supply chain
managed fund
money from a large number of smaller investors pooled together and managed as one large investment portfolio by a professional investment manager.
parent company
a company that owns or controls another company (subsidiary)
political risk
any political event which has a negative impact upon business operations and profit
subsidiary
a company owned and controlled by another company
transnational (multinational) corporation (TNC)
a large business organisation that has a home base in one country, and operates business in other countries
