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Commercial transaction that crosses the borders of two or more nations
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INTERNATIONAL BUSINESS
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Goods and services purchased abroad and brought into a country
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IMPORTS
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Goods and services sold abroad and sent out of a country
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EXPORTS
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Use of computer networks to purchase, sell, or exchange products; service customers; and collaborate with partners
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E-BUSINESS (E-COMMERCE)
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Trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies
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GLOBALIZATION
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Treaty designed to promote free trade by reducing both tariffs and nontariff barriers to international trade
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GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT)
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International organization that enforces the rules of international trade
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WORLD TRADE ORGANIZATION (WTO)
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Value of all goods and services produced by a domestic economy over a one-year period
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GROSS DOMESTIC PRODUCT (GDP)
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Value of all goods and services produced by a country's domestic and international activities over a one-year period
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GROSS NATIONAL PRODUCT (GNP)
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Nation's GDP or GNP divided by its population
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GDP OR GNP PER CAPITA
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Agency created to provide financing for national economic development efforts
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WORLD BANK
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Agency created to regulate fixed exchange rates and enforce the rules of the international monetary system
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INTERNATIONAL MONETARY FUND (IMF)
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Business that has direct investments abroad in multiple countries
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MULTINATIONAL CORPORATION (MNC)
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Company that adopts a global perspective and engages in international business from or near its inception
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BORN GLOBAL FIRM
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Set of values, beliefs, rules and institutions held by a specific group of people
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CULTURE
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