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sports
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Chapter 19 Global Competition – The world seems to be shrinking with the advent of faster communication, transportation and financial flows. Global competition is intensifying and few US industries are safe from foreign competition. Global firm – a firm that operates in more than one country, gains production, research and development, marketing and financial advantages in its costs and reputation that are not available to purely domestic competition. Trade Restrictions Tariff – A tax levied by government against certain imported products. Tariffs are designed to raise revenue or to protect domestic firms. Quota – A limit on the amount of goods that an importing country will accept incertain product categories. Embargo – a ban on the import of a certain product. Exchange controls – Governmant limits on the amount of foreign exchange with oter countries and on the exchange rate against other currencies. Non tariff barriers – Nonmonetary barriers to foreign products, such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features. General Agreement on tariffs and trade (GATT) – Designs rules for fair trade around the world, current trend is to lower tariffs to make trade more accessible. World trade organization – uphold the laws made by GATT. Free Trade Zones – Economic communities that are a group of nations organized to work toward common goals in the regulation of international trade.
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Paper Information
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Title: sports
Words: 1068
Rating: None
Pages: 4.3
submitted by: bball417
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