Chapter 5 Key Terminology, Concepts and Ideas

12345678910111213141516171819202122
Across
  1. 1. The creation or development of methods and products that are then introduced to the market as new or improved goods and services.
  2. 3. Common currency that was implemented across multiple countries in the European Union to promote growth and trade between countries.
  3. 5. Organization created to help countries track economic trends, analyze countries financial performance and warn them of potential economic issues.
  4. 7. A treaty between two (bilateral) or more (multilateral) countries that encourages the movement of goods & services and increased foreign investment through elimination of trade barriers and the establishment of terms of trade.
  5. 9. containing 186 members created to provide monetary and technical support to developing countries.
  6. 13. An economic strategy used by firms where products, services and marketing are customized for local markets.
  7. 14. Also known as the G20 this organization was created to organize a discussion forum for the major economics of the world but expanding outside the G8 and acknowledge the influence of other large countries such China.
  8. 15. Measure that compares the amount of goods and services produced (outputs) to the amount of inputs required to create those goods and services.
  9. 16. This organization was created to provide a discussion forum for the eight largest economies of the world to discuss macroeconomic issues.
  10. 17. Trade organization with the goal of uniting the economy of many countries around the pacific.
  11. 18. Unlike trade agreements which are enforceable treaties these are groups created to help countries with the movement of goods & services.
  12. 20. Trade organization containing 153 member countries with the main objective of promoting trade liberalization throughout the world.
  13. 21. Movement of goods, services, technology, investments and ideas throughout the world.
  14. 22. Trade agreement containing 27 European countries and around half a billion people. The EU has its own currency and common financial security and foreign policies across all member countries creating the largest free trade bloc in the world.
Down
  1. 2. Trade agreement signed by Canada, Mexico and the US in 1993 eliminating trade barriers and encouraging collaboration between the three countries. They created the largest free trade area in the world. More recently it has been changed to the USMCA.
  2. 4. Organization of countries created in 1945 during world war two that strives for world peace
  3. 6. A strategy that combines the best aspects of both multi domestic strategy and global strategy. They respect the differences of local cultures but maintain the efficient of a global strategy.
  4. 8. An economic strategy used by firms where the world is regarded as one big market therefore products and marketing are uniform around the globe.
  5. 10. Technique usually done by companies to reduce costs and is the act of hiring an outside company or going to a cheaper country where goods or services that were provided are cheaper.
  6. 11. Treaties that are created to prevent double taxation and tax evasion for those who would pay taxes to multiple countries. Tax treaties have set limits on the amount each country may collect.
  7. 12. A company that operates in multiple countries around the globe and has operations facilities such as warehouses in foreign markets.
  8. 19. A trade organization created in 1961 to advance democracy and market economies around the world.