International Business and Trade Reviewer

Practice flashcards covering basic concepts, international business and trade definitions, globalization terms, export/import strategies, investment models, and e-commerce models based on lecture handouts.

Economic machine

Refers to the economic system that produces, distributes, and consumes goods and services.

Economic booster

Any activity that stimulates economic growth, increases employment, and raises income levels.

Engine of growth

International business and trade are called an engine of growth because they open markets, create jobs, increase productivity, and stimulate economic activity.

Growth booster

A factor that accelerates economic development and business expansion.

International Business and Trade

The buying, selling, and exchanging of goods, services, capital, labor, resources, ideas, and technology across national borders.

International Business

Economic activities conducted across national borders, including the production, purchase, and sale of goods and services.

Expanding markets

Entering foreign markets to increase the number of customers and raise revenue.

Acquiring resources

Obtaining capital, technology, labor, and raw materials from other countries.

Minimizing risks

Reducing business losses by operating in different countries.

Diversification

Expanding or varying a business's products, services, or markets to reduce risk.

Globalization

The increasing interconnectedness and interdependence of economies, cultures, and societies.

Glocalization

The process of adapting global products, services, and strategies to suit local cultures while maintaining a global identity.

Interdependence

The mutual dependence of countries on one another.

Interconnectedness

The close relationship among countries through trade, communication, and technology.

Merging

Combining two or more companies, organizations, or systems into a single entity.

Trade

The exchange of goods and services between buyers and sellers.

Business

The activity of producing, selling, and purchasing goods and services for profit.

Importing

Purchasing goods and services from another country.

Exporting

Selling goods and services to another country.

Direct exporting

Selling products directly to foreign customers without intermediaries.

Indirect exporting

Selling products through distributors, agents, or trading companies.

Direct importing

Purchasing products directly from foreign suppliers.

Direct investment

Investing directly in another country's business operations.

Foreign direct investment (FDI)

Investing in a foreign business through ownership, usually involving at least $10\%$ ownership.

International investing

Investing money in businesses, projects, or financial instruments outside one's home country.

Greenfield investment

Establishing an entirely new business facility in another country.

Brownfield investment

Purchasing or using existing facilities instead of building new ones.

Merger and acquisition (M&A)

Combining companies or acquiring existing businesses.

Countertrade

The exchange of goods and services instead of using money.

E-trading

The online buying and selling of financial assets.

E-commerce

Conducting business transactions through the internet.

Franchising

Allowing another party to use a business model, trademark, or brand name in exchange for fees and royalties.

Licensing

Granting permission to another party to use intellectual property rights.

Joint venture

A partnership between two or more companies for a specific purpose.

Branch

An office established in another location or country.

Wholly owned subsidiary

A company completely owned and controlled by another company.

Technology transfer

The process of transferring knowledge, skills, and technology from one organization to another.

Labor migration

The movement of workers from one country to another.

B2C (Business-to-Consumer)

Businesses sell products directly to consumers. Example: Lazada.

C2C (Consumer-to-Consumer)

Consumers sell products or services directly to other consumers. Example: Facebook Marketplace.

B2B (Business-to-Business)

Businesses sell products or services to other businesses. Example: Alibaba.

Freemium model

Basic services are offered for free, while premium features require payment. Examples: Spotify and LinkedIn.

Platform-as-a-Service (PaaS)

A cloud-based environment that enables users to create, manage, and deploy applications. Examples: Google Cloud and Salesforce.

Subscription model

Customers pay regularly for access to products or services. Examples: Netflix and Spotify.

Marketplace model

A platform that connects buyers and sellers. Examples: Uber, Airbnb, and Etsy.