Chapter 1 Key Terms foreign market trade business transactions domestic business international business domestic market foreign or international trade trading partner duty or tariff globalization interdependence primary industries secondary industries branch plant tertiary industries service sector foreign direct investment portfolio investment culture industry

Chapter 2 Key Terms importing global sourcing exporting value added licensing agreement exclusive distribution rights franchise joint venture foreign subsidiary protectionism trade quotas trade embargo trade sanctions exchange rate floating rate currency revaluation currency devaluation terms of trade hard currencies soft currencies currency speculating

Chapter 3 Key Terms culture subculture counterculture rationalization monochronic polychronic spatial perception cultural dimensions Geert Hofstede Cultural Dimensions Impact of Culture on Labour Market pg 79-83

Chapter 4 Key Terms political system economic system market economy centrally planned economy mixed economy democracy autocracy underdeveloped countries developing countries developed countries gross domestic product (GDP) business cycle absolute advantage opportunity cost comparative advantage lobbying

Chapter 5 Key Terms trade agreement North American Free Trade Agreement (NAFTA) European Union (EU) euro trade organizations World Trade Organization (WTO) Asia-Pacific Economic Co- operation (APEC) Group of Eight (G8) Group of Twenty (G20) Organization for Economic Co-operation and Development (OECD) World Bank International Monetary Fund (IMF)

Chapter 6 Key Terms corporate social responsibility (CSR) business ethics ethical imperialism cultural relativism pollution resource depletion sweatshops corporate corruption dumping predatory dumping microcredit non-governmental organizations (NGOs)

Chapter 7 Key Terms marketing secondary data primary data centralized strategy decentralized strategy e-distribution sales agent trade show royalty target market ethnocentrism demographic information discretionary income competitive advantage economies of scale

Chapter 8 Key Terms logistics production logistics business logistics supply chain vertical integration horizontal integration point-of-sale terminal just-in-time (JIT) inventory systems letter of credit supplier management outsourcing nearsourcing insourcing offshoring inshoring inbound distribution outbound distribution receiving process Ex Works (EXW) carrier bill of lading freight consolidation containerization

Chapter 9 Key Terms tax credit Smart Border Accord Human Development Index (HDI) productivity telecommuting

Chapter 10 Key Terms subprime mortgage foreclose collateral feed-in tariff sustainability passport visa duty-free

Questions Chapter 1 pg. #32 1-4, 6-7, 15 Chapter 2: pg. 58 #4, 14, 15, 20, 21 Chapter 3 pg. 92 #1-4, 5, 11, 15 Chapter 4 pg. 118 #1,2,4-16, 22, 23 Chapter 5 pg. 152 #3, 4, 5, 6,10, 13, 15, 16, 18, 23, Chapter 6 pg. 178 #1-6, 8, 9, 17, 19, 20, 21, 22, 23, 25

Chapter 7 pg. 214 #1, 2, 3, 4, 5, 6, 7, 8, 9 Chapter 8 pg. 244# 3, 4, 5, 9, 10, 19 Chapter 9 pg. 274 # 2-14, 18, 20, 21 Chapter 10 pg. 306 # 4, 9, 18