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| Also known as advanced, these countries are highly industrialized, and their economies are dominated by their service and information technology sectors. |
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| A country that has not reached Western-style standards of democratic governments, free market economies, industrialization, social programs, and human rights guarantees. |
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| The forces behind rapid world-wide economic integration such as reduced trade barriers, Internet and communications technology, and transportation technology. |
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| Domestic goods sold to foreign markets. |
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| A movement towards a more integrated and interdependent economy as related to goods, technology, information, labor, and capital; awareness, understanding, and response to global integration. |
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| The process of national markets merging together to form a global market. |
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| Globalizationofproduction |
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| The process of dispersing a firms operations around the globe; includes sourcing and outsourcing. |
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| The process of exporting or importing goods or services. |
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| A place where an exchange of goods and services takes place between buyers and sellers. |
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| Subcontracting a stage of production to a third-party in a different country. |
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| The process of searching and buying raw materials, final goods, employees, knowledge, innovation, and financing all over the world. |
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| The process of learning about, accepting, and adopting the traits of another culture. |
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| Ideas and feelings about beauty. |
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| The combination of learning and experiences that people in the same countries or regions share. Culture consists of the social, organizational, and linguistic traits of a group of people that are passed from generation to generation. |
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| The belief that ones own culture is superior to all others. |
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| The accepted code of behavior among a group of people. |
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| The ability to speak or write a language smoothly, easily, or readily. |
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| The Chinese concept of relationships built on trust. Guanxi is an essential element of successful business dealings. |
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| A group of people with similar attitudes, a community. |
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| A cultural norm related to language. There are two types of communication: linguistic, which uses language, and nonlinguistic, which uses gestures and expressions. |
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| The practice of giving a family member instead of a stranger a job or promotion |
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| A standard way of behaving as established by culture. |
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| The ways in which people use their bodies to express meaning. |
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| The mother, father, and children of a family. |
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| A cultural norm related to the way a society is set up. |
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| Nearness, Physical proximity is one of the ways people communicate nonverbally. |
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| A cultural norm related to the way people act and/or feel. |
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| The ideals of a societywhat the members consider good or bad. |
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| When two countries at war agree to stop fighting without making a formal agreement to end the war. In 1953, North and South Korea declared an armistice, but no peace treaty has been signed yet. |
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| An economy in which all production is owned and planned by the government. |
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| A form of government in which citizens have equal access to power and equal freedoms. A democracy is considered the most favorable form of government for business enterprise. |
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| A nations continuous pursuit to improve its economic, political, and social well-being. Factors of economic development include education, life expectancy, and GDP per capita (also called standard of living). |
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| When a nations GDP rises. |
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| A statistic about the economy. |
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| A protectionist measure a country takes in which it prohibits trade with another country. |
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| The total value of all the goods and services a country produces in one year. |
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| A measurement that looks at the life expectancy, knowledge and education, and standard of living (measured by GDP per capita) of a country. An HDI score of 1.0 means that people in that country have the best possible freedoms, care, safety, and options. |
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| The energy, transportation, and communication systems of a country. |
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| The legal right to own an idea, invention, phrase or other intangible concept. Intellectual property rights vary from nation to nation. The weaker a nations intellectual property laws are, the more likely piracy will occur there. |
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| InternationalMonetaryFund |
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| The organization that monitors and creates policies for the global financial system. |
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| The governmental policy that dictates that a nation should avoid all wars but those in self-defense and implement protectionist economic policies. |
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| An economy in which all production is privately owned, determined by supply and demand. |
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| The combination of a countrys political, economic, and legal systems. These systems are interdependent. |
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| Legal protection for owned resources, including intellectual property. |
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| An adjustment to the per capita GDP measurement that compares the actual cost of goods among nations. One example of the PPP principle is called the Big Mac Index, which compares the actual price of a virtually universal good from nation to nation. |
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| Something given for service, help, merit, or hardship. |
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| The probability of being exposed to danger, injury, or loss. |
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| A governmentally determined limit on an import or export. |
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| The quality and accessibility of a nations goods and services to its citizens. It is measured by per capita GDP. |
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| A payment or other type of financial assistance to an industry or company to keep it competitive or in business. |
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| A tax on a good moved from one nation to another. |
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| A form of government in which the state controls most or all of the social, technological, economic, and political facets of a nation. |
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