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,

28-30• 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