Treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade

International organization that enforces the rules of international trade.

Business that has direct investments abroad in multiple countries.

Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.

System of social stratification in which personal ability and actions determine social status and mobility

Study of how a country manages its affairs by using its political, economic, and legal systems.

Relative ability of two countries’ currencies to buy the same “basket” of goods in those two countries.

Legal system based on a detailed set of written rules and statutes that constitute a legal code.

Use of computer networks to purchase, sell, or exchange products; to service customers; and to collaborate with partners

Newly industrialized countries plus those with the potential to become newly industrialized.

Country that is highly industrialized and highly efficient, and whose people enjoy a high quality of life.

Personal behavior in accordance with guidelines for good conduct or morality.

Laws designed to prevent companies from fixing prices, sharing markets, and gaining unfair monopoly advantages

Departure of highly educated people from one profession, geographic region, or nation to another

Collection of two or more people who identify and interact with each other.

Habits or ways of behaving in specific circumstances that are passed down through generations in a culture.

What a culture considers “good taste” in the arts, the imagery evoked by certain expressions, and the symbolism of certain colors.

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Property right giving creators of original works the freedom to publish or dispose of them as they choose.

Third or “link” language understood by two parties who speak different native languages.

Tax levied on each party that adds value to a product throughout its production and distribution

Property that results from people’s intellectual talent and abilities.

Responsibility of manufacturers, sellers, individuals, and others for damage, injury, or death caused by defective products

Belief that social and economic equality is obtained through government ownership and regulation of the means of production

Value of all goods and services produced by a country’s domestic and international activities during a one-year period

Positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts.

Framework for studying cultural differences along six dimensions, such as focus on past or future events and belief in individual or group responsibility for personal well-being

Agency created to provide financing for national economic development efforts.

Country that has recently increased the portion of its national production and exports derived from industrial operations.

Forced transfer of assets from a company to the government without compensation.

Belief that ownership of the means of production belongs in the hands of individuals and private businesses

Practice of companies going beyond legal obligations to actively balance commitments to investors, customers, other companies, and communities

Framework for studying cultural differences along five dimensions, such as individualism versus collectivism and equality versus inequality

Patents and trademarks.

Goods and services purchased abroad and brought into a country

Ideas, beliefs, and customs to which people are emotionally attached.

Set of laws and regulations, including the processes by which a country’s laws are enacted and enforced and the ways in which its courts hold parties accountable for their actions.

Economic system in which a nation’s land, factories, and other economic resources are owned by the government, which plans nearly all economic activity

Measure of the extent to which a government equitably provides its people with a long and healthy life, an education, and a decent standard of living

Commercial transaction that crosses the borders of two or more nations

Environmental impact of greenhouse gases (measured in units of carbon dioxide) that result from human activity

Nation that has a poor infrastructure and extremely low personal incomes. Also called less-developed countries.

Use of the latest technologies in some sectors of the economy coupled with the use of outdated technologies in other sectors

The policy of hiring people to represent a company’s views on political matters.

Agency created to regulate fixed exchange rates and to enforce the rules of the international monetary system

Detailed knowledge about a culture that enables a person to work happily and effectively within it.

Goods and services sold abroad and sent out of a country.

Nation’s GDP or GNP divided by its population.

A culture’s fundamental organization, including its groups and institutions, its system of social positions and their relationships, and the process by which its resources are distributed.

All the technology used in a culture to manufacture goods and provide services.

Property right granted to the inventor of a product or process that excludes others from making, using, or selling the invention.

Quantity of a good or service that buyers are willing to purchase at a specific selling price

Behavior shared by a heterogeneous group or by several groups

Laws stipulating that a specified amount of a good or service be supplied by producers in the domestic market

International organization formed after World War II to provide leadership in fostering peace and stability around the world.

Language communicated through unspoken cues, including hand gestures, facial expressions, physical greetings, eye contact, and the manipulation of personal space

Government takeover of an entire industry.

Law that forbids US companies from bribing government officials or political candidates in other nations

Behavior, often dating back several generations, that is practiced by a homogeneous group of people

Structures, processes, and activities by which a nation governs itself.

Democracy in which citizens elect individuals from their groups to represent their political views

Political system in which government leaders are elected directly by the wide participation of the people or by their representatives.

Value of goods and services that can be purchased with one unit of a country’s currency

Increase in the economic wellbeing, quality of life, and general welfare of a nation’s people.

Devotion of a people to their nation’s interests and advancement

Economic system in which land, factories, and other economic resources are rather equally split between private and government ownership

Likelihood that a society will undergo political change that negatively affects local business activity

System of social stratification in which people are born into a social ranking, or caste, with no opportunity for social mobility

Belief that one’s own ethnic group or culture is superior to that of others

Process by which a nation changes its fundamental economic organization and creates new free-market institutions.

Forced transfer of assets from a company to the government with compensation

Property right in the form of words or symbols that distinguish a product and its manufacturer.

Quantity of a good or service that producers are willing to provide at a specific selling price

System of conveying thoughts, feelings, knowledge, and information through speech, writing, and actions

Economic system in which most of a nation’s land, factories, and other economic resources are privately owned, either by individuals or businesses

Political system in which a country’s religious leaders are also its political leaders.

International treaty that protects copyrights.

Belief that social and economic equality can be obtained only by establishing an all-powerful Communist Party and by granting the government ownership and control over all types of economic activity.

Process whereby cultural traits spread from one culture to another.

Appropriate ways of behaving, speaking, and dressing in a culture.

replacement of one culture’s traditions, folk heroes, and artifacts with substitutes from another.

Process of ranking people into social layers or classes

Political system in which individuals govern without the support of the people, tightly control people’s lives, and do not tolerate opposing viewpoints.

Legal system based on religious teachings.

Ease with which individuals can move up or down a culture’s “social ladder.”

Anything that represents a culture’s way of life, including gestures, material objects, traditions, and concepts.

A group of people who share a unique way of life within a larger, dominant culture

Political system under the control of totalitarian religious leaders.

Set of values, beliefs, rules, and institutions held by a specific group of people.

Legal system based on a country’s legal history (tradition), past cases that have come before its courts (precedent), and how laws are applied in specific situations (usage)

Legal rights to resources and any income they generate

Structure and processes that a country uses to allocate its resources and conduct its commercial activities

Political system in which leaders rely on military and bureaucratic power.

Segment of the economic environment comprising independently owned firms that seek to earn profits.

Policy of selling government-owned economic resources to private operators

__________ of two countries’ currencies to buy the same “basket” of goods in those two countries.

Law that forbids _________________ from bribing government officials or political candidates in other nations

What is the definition of industrial property?

What is the definition of brain drain?