TACN3 - Gap-filling

TACN3 Kinh tế kinh doanh quốc tế - FTU

GATT is a major trade ______ that was established to negotiate trade concessions among member countries.

agreement

WTO is an international ______ that deals with the rules of trade among member countries; one of its most important functions is to act as a dispute-settlement mechanism.

organization

Companies often rely on ______ when they contract external firms to perform certain business functions instead of handling them internally.

outsourcing

Many multinational corporations choose ______ to move production to countries with lower labor costs, even if those countries are geographically distant.

offshoring

______ refers to relocating business processes to neighboring countries in order to reduce costs while maintaining closer cultural and time-zone alignment.

nearshoring

______ is the exchange of goods and services across international borders.

international trade

A company with a parent company that only possesses a stake of between 20 and 50% ownership of the company is often called an ______.

associate/affiliate

A ______ is a business whose parent company holds a majority stake.

subsidiary

Economic globalization is the growing ______ and economic actors across countries and regions.

interdependence of locations

______ are the sets of common habits, routines, established practices or laws that regulate the interaction between individuals and groups.

institutions

______ is the purchase, sale, or exchange of goods and services across national borders.

international trade

Sending goods to another country for sale or trade is called ______.

exporting

When a country brings in goods from abroad for sale or trade, it is called ______.

importing

A ______ occurs when the value of a nation's exports is greater than the value of its imports.

trade surplus

A ______ occurs when the value of a nation's imports is greater than the value of its exports.

trade deficit

The trade theory of ______ argues that governments should encourage exports and discourage imports to accumulate wealth.

mercantilism

Adam Smith introduced the theory of ______, which suggests nations should specialize in goods they can produce more efficiently than others.

absolute advantage

The ______ theory holds that nations should produce goods in which they have the greatest relative advantage.

comparative advantage

The ______ theory states that nations will export products that use production factors they have in abundance.

factor endowment

The ______ theory explains that nations with more labor will focus on labor-intensive goods, while capital-rich countries will produce capital-intensive goods.

Heckscher Ohlin

The ______ showed that the US exported more labor-intensive goods and imported capital-intensive ones.

Leontief paradox

The ______ theory describes how a product moves from innovation in one country to being produced worldwide where costs are lowest.

IPLC

A complete ban on trade with a specific country or product is called an ______.

embargo

The ______ was a treaty designed to promote free trade by reducing tariff and non-tariff barriers.

GATT

The ______ is an international organization dealing with the rules of trade between nations.

World Trade Organization

3 - The ______ is a statistical summary of a country's total trade, other economic transactions and financial flows, and it must always be in balance overall even if its individual components are not.

balance of payments

3 - The component of the balance of payments that records trade in goods and services, income and unrequited transfers is known as the ______ account.

current

3 - A usually non-binding intergovernmental instrument that seeks to regulate the behaviour of governments or private corporations is called a ______.

code of conduct

3 - Government acts, policies and practices that influence trade in goods and services are collectively referred to as ______ policy, a term that has largely replaced "commercial policy."

trade

3 - The approach governments take to promoting and protecting market competition — including in previously monopolistic sectors such as utilities — is known as ______ policy.

competition

3 - Michael Porter's theory holding that a firm's or industry's success rests on cost advantages or product-differentiation advantages is known as ______ advantage.

competitive

3 - Protective mechanisms that are legal under WTO agreements, such as anti-dumping measures, countervailing duties and safeguards, are known collectively as ______ protection.

contingent

3 - The extension of economic activity across national borders to harness lower costs abroad, while allowing countries to retain their economic independence, is often distinguished from globalisation and termed ______.

internationalization

3 - A climate of economic policy that seeks to shield domestic producers from the rigours of international competition, typically through tariffs and subsidies, is known as ______.

protectionism

3 - The principle of the unrestricted movement of goods, services, capital and people across national borders is referred to as ______ trade.

free

3 - The gradual or complete removal of existing impediments to trade in goods and services is known as trade ______.

liberalization

3 - An agreement between exactly two countries setting out the conditions under which trade between them will be conducted is called a ______ trade agreement.

bilateral

3 - Agreements involving numerous countries, aimed at expanding and liberalising trade under non-discriminatory and transparent conditions, are known as ______ trade agreements.

multilateral

3 - An approach to the conduct of international trade based on cooperation, equal rights and the participation of many countries regardless of size is called ______.

multilateralism

3 - A group of countries that removes trade barriers among its members and additionally pursues a common external trade policy is known as a ______.

customs union

3 - A country offering exceptionally low or no income taxes, often used to attract foreign capital, is commonly known as a ______.

tax haven

3 - The argument that new industries in developing countries should be temporarily protected from international competition until they can compete globally is known as the ______ argument.

infant industry

3 - A requirement that a specified proportion of a good be produced domestically is called a ______ requirement.

local content

3 - An exchange-rate system in which the rate for converting one currency into another is continuously adjusted according to supply and demand is known as a ______ exchange rate system.

floating

3 - The measure of how responsive the demand for a product is to a change in its price is known as price ______ of demand.

elasticity

4 - Payments made by a foreign manufacturer to a company that has licensed its products are called _______.

royalty payments

4 - A corporation that controls production and marketing systems in several countries is known as a _______.

multinational corporation

4 - An independent sales agent who is given the sole right to sell a manufacturer's products is called an _______.

exclusive distributor

4 - The purchase of a company's shares that gives controlling interest is called a _______.

buyout

4 - When two firms agree to combine and go forward as a single new company, it is called a _______.

merger

4 - The purchase of shares and long-term debt obligations from a foreign entity, without seeking control, is _______.

foreign portfolio investment

4 - Buying as many company stocks as possible on the stock market is known as a _______.

raid

4 - When investors establish a plant or distribution network abroad, this is called _______.

foreign direct investment

4 - An _______ happens when one company takes over another and clearly establishes itself as the new owner.

acquisition

4 - A subsidiary formed by two or more corporations for shared capital and know-how is called a _______.

joint venture

4 - A public offer to a company's shareholders to buy their stocks at a certain price during a limited time is a _______.

takeover bid

4 - A _______ distributor is a sales agent who represents more than one manufacturer.

multiple

4 - Benefits such as tax credits, grants, or cheap loans given by governments to attract investors are called _______.

investment incentives

4 - The total amount of cash left after taxes and expenses are paid is called _______.

cash flow

4 - A _______ merger occurs when two companies in the same industry combine.

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