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IB 200
Final ch 7
15
Business
Undergraduate 2
05/04/2009

Additional Business Flashcards

 


 

Cards

Term
Protectionism
Definition
National economic policies designed to restrict free trade and protect domestic industries from foreign competition
Term
Tariff
Definition
A tax imposed on imported products, effectively increasing the cost of acquisition for the customer
Term
Nontariff trade barrier
Definition
A government policy, regulation, or procedure that impedes trade through means other than explicit tariffs
Term
Customs
Definition
Checkpoints at the ports of entry in each country where government officials inspect imported products and levy tariffs
Term
Quota
Definition
A quantitative restriction placed on imports of a specific product over a specified period of time
Term
Export control
Definition
A government measure intended to manage or prevent the export of certain products or trade with certain countries
Term
Import license
Definition
Government authorization granted to a firm for importation of a product.
Term
Currency control
Definition
Restrictions on the outflow of hard currency from a country, or the inflow of foreign currencies
Term
Subsidy
Definition
Monetary or other resources a government grants to a firm or group of firms, usually intended to ensure their survival by facilitating the production and marketing of products at reduced prices or to encourage exports
Term
Countervailing duty
Definition
A duty imposed on products imported into a country to offset subsidiaries given to producers or exporters in the exporting country
Term
Dumping
Definition
Pricing exported products at less than their normal value, generally for less than their price in the domestic or third-country markets, or at less than production cost
Term
Antidumping duty
Definition
A tax imposed on products deemed to be dumped and causing injury to producers of competing products in the importing country
Term
Investment incentive
Definition
Transfer payment or tax concession made directly to foreign firms to entice them to invest in the country
Term
Foreign trade zone (FTZ)
Definition
An area within a country that receives imported goods for assembly or other processing, and re-export. For customs purposes the FTZ is treated as if it is outside the country’s borders
Term
Maquiladoras
Definition
Export-assembly plants in northern Mexico along the U.S. border that produce components and typically finished products destined for the United States
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