| A | B |
|---|
| Global Economy | The interconnected economies of the nations of the world |
| International Trade | Involves the exchange of goods and services between nations |
| Multinational Corporation | A company that does business in many countries and has facilities and offices around the world |
| Trade | The activity of buying and selling goods and services in domestic or international markets |
| Imports | Are goods and services that one country buys from another country |
| Exports | Are goods and services that one country sells to another country |
| Free Trade | Occurs when there are few or no limits on trade between countries |
| Comparative Advantage | The ability of a country or company to produce a particular good more efficiently than another country or company |
| Exchange Rate | The price at which one currency can buy another currency |
| Protectionism | The practice of the government putting limits on foreign trade to protect businesses at home |
| Tariff | A tax placed on imports to increase their price in the domestic market |
| Quota | A limit placed on the quantities of a product that can be imported |
| Embargo | A ban on the import or export of a product |
| Balance of Trade | The difference in value between a country’s imports and exports over a period of time |
| Culture | The beliefs, customs, and attitudes of a distinct group of people |
| Business Etiquette | Conduct that is considered socially acceptable in business |
| Corporate Culture | Its shared values, beliefs, and goals |
| Hierarchy | Chain of command |
| Ageism | Discrimination towards older individuals |
| Diversity | A variety of employees with different backgrounds and identities |
| Stereotype | To identify them by a single trait or as a member of a certain group rather than as individuals |
| Baby Boom Generation | The 76 million babies born in the United States between 1946 and 1964 |
| Discrimination | Unfair treatment of a person or group, usually because of prejudiced attitudes about race, ethnicity, age, religion, or gender |
| Bureaucracy | Formal organization with several levels of management |
