other definitions that i didn't snag

Question 1

5 p’s of international business

Answer 1

production, price, preference, promotion, proximity

Question 2

balance of trade

Answer 2

the difference in value between a countries imports & exports

Question 3

bre-x

Answer 3

Bre-X was a group of companies in Canada. Bre-X Minerals Ltd., a major part of Bre-X based in Calgary, was involved in a major gold mining scandal when it reported it was sitting on an enormous gold deposit at Busang, Indonesia.

Question 4

capital resources

Answer 4

buildings, equipment, tools, trucks, factories, etc.

a factor of production that cost a fortune and last very long.

businesses need a lot of money (another capital business) to buy materials & services they need to do business.

Question 5

competition

Answer 5

rivalry between companies selling similar products/services

Question 6

debt financing

Answer 6

when a company borrows money to be paid back with interest

Question 7

demand

Answer 7

the quantity of a good/service that consumers are willing and able to buy at a particular price

Question 8

dividend

Answer 8

a distribution of a portion of a company’s earnings, decided by the board of directors, paid to a class of it shareholders.

Question 9

economic issues

Answer 9

asserts that an economy’s finite resources are insufficient to satisfy all human wants & needs.

Question 10

enron

Answer 10

Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. It was founded in 1985 as a merger between Houston Natural Gas and InterNorth, both relatively small regional companies.

Question 11

equity financing

Answer 11

money from investments or savings

Question 12

EU

Answer 12

the political and economic union of 28 member states that are primarily located in europe

Question 13

euro

Answer 13

european currency

Question 14

expenses

Answer 14

money spent/loss

Question 15

human resources

Answer 15

the component of employee well-being

Question 16

interdependent

Answer 16

businesses relying on each other

Question 17

law of demand

Answer 17

as the price of a good/service increases, quantity, demanded decreases and vice versa

Question 18

law of supply

Answer 18

an increase in price results, the increase in quality supplied

Question 19

liability

Answer 19

a company’s financial debts/obligations that arise during the course of business operations.

Question 20

limited liability

Answer 20

where the liability of a business owner is limited to amount that the owner has invested in the company.

Question 21

manufacturing business

Answer 21

a business that uses components, parts or raw materials to make a finished good.

Question 22

marketplace

Answer 22

where producers and consumer come together

Question 23

meger

Answer 23

the combination of 2 or more companies to achieve greater efficiencies

Question 24

NAFTA

Answer 24

north american free trade agreement. an agreement among the US Canada and Mexico, to remove tariff barriers between the countries, now called United States-Mexico-Canada Agreement (USMCA)

Question 25

natural resources

Answer 25

raw materials that come from the earth, water and air.

Question 26

needs

Answer 26

essential for life

Question 27

obsolete

Answer 27

products that are not wanted anymore and are no longer available

Question 28

occupational health & safety act

Answer 28

employees have the right to : 1 - refuse unsafe work 2 - participate in the workplace health and safety activities

Question 29

offshoring

Answer 29

relocation of a business from one country to another

Question 30

pay equity

Answer 30

all being paid equally/the elimination of pay discrimination

Question 31

profit

Answer 31

financial gain. the difference between the amount earned and the amount spent in buying/operating/producing/etc.

Question 32

pyramid scheme

Answer 32

illegal investment in which paying participant recruits two further with returns being given to early participants using money contributed by later ones.

Question 33

retail business

Answer 33

selling consumer goods/services to customers through channels of distribution

Question 34

revenue

Answer 34

money that a company actually receives

Question 35

service businesses

Answer 35

company that provides work performed in an expert manner. usually intangible services.

Question 36

strategic alliance

Answer 36

an agreement between 2 or more parties to pursue a set of agreed upon objectives needed while remaining independent organizations.

Question 37

supply

Answer 37

quantity of a good/service that businesses are willing to provide

Question 38

sustainable development

Answer 38

economic development that is conducted without depletion of natural resources

Question 39

tariff

Answer 39

a tax to be paid on a particular class of imports/exports. taxes on products from elsewhere.

Question 40

trade deficit

Answer 40

when a country's imports>exports

Question 41

trade surplus

Answer 41

when a country's exports>imports

Question 42

unlimited liability

Answer 42

legal obligation general partners and sole proprietors because they are liable for all business debts if they can't pay liabilities

Question 43

Barriers to International Business

Answer 43

Tariffs - Tax on certain kinds of imports, gives a price advantage to Canadian profit goods. Non Tariff Barriers - Standards for the quality of imported goods. Cost of Importing and Exporting - The landed cost is the actual cost for an imported purchased item, composed of the vendor cost, transportation charges duties, taxes, broker fees, other charges, etc. Excise Taxes - A tax on the manufacture, sale, or consumption of a particular product within a country, ex.) gasoline ⭐usually done to raise government funds. Currency Fluctuations - CAD Dollar $1 - USD $0.78