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Chapter 8 - Chapter 8 What is Global Business Global...

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Chapter 8 What is Global Business? - Global business -The buying and selling of goods and services by people from different countries. Global Business, Trade rules, and trade agreements 1. The impact of Global Business - Multinational Corporation -A corporation that owns businesses in two or more countries. - Direct foreign investment -A method of investment in which a company builds a new business or buys an existing business in a foreign country. 2. Trade barriers - Trade barriers -Government-imposed regulations that increase the cost and restrict the number of imported goods. - Protectionism -A government’s use of trade barriers to shield domestic companies and their workers from foreign competition. - Tariff -A direct tax on imported goods. - Nontariff barriers -Nontax methods of increasing the cost or reducing the volume of imported goods. - Quota -A limit on the number or volume of imported products. - Voluntary export restraints -Voluntarily imposed limits on the number or volume of products exported to a particular country. - Government import standard -A standard ostensibly established to protect the health and safety of citizens but, in reality, often used to restrict imports. - Subsidies -Government loans, grants, and tax deferments given to domestic companies to protect them from foreign competition.
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