international business
Any commercial transaction that crosses the borders of two or more nations,
imports
Goods and services Purchased abroad and brought into a country.
exports
Goods and services sold abroad and sent out of a country.
e-business / e-commerce
The use of computer networks to purchase, sell, or exchange products, service customers, and collaborate with partners.
globalization
The trend trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies.
General Agreement on Tariffs and Trade (GATT)
A treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.
World Trade Organization (WTO)
The international organization that enforces the rules or international trade.
gross domestic product (GDP)
The value of all goods and services produced by a domestic economy over a one-year period.
gross national product (GNP)
The value of all goods and services produced by a country's domestic and international activities over a one-year period.
GDP or GNP per capita
GDP or GNP divided by its population.
economic integration
trade, foreign direct investment, portfolio capital flows, and investment income.
personal contact
international travel and tourism, international telephone traffic, remittances, and personal transfers (including compensation to employees).
technological connectivity
Internet users, Internet hosts, and secure services.
political engagement
memberships in international organizations, personal and financial contributions to U.N. Security Council missions, international treaties ratified, and government transfers.
World Bank
An agency created to provide financing for national economic development efforts.
International Monetary Fund (IMF)
An agency created to regulate fixed exchange and enforce the rules of the international monetary system.
multinational corporation
A business that has direct investments (in the form of marketing or manufacturing subsidiaries) aboard in multiple countries.
born global firm
A company that adopts a global perspectives and engages in international business from or near its inception.