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LAP-EC-022 Flashcards
Business Flashcards
25
Business
10th Grade
11/19/2012

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Cards

Term
Brain drain
Definition
The situation that exists when a country or region loses its talented employees to other jobs overseas.
Term
Brand value
Definition
A belief or quality that a brand stands for and is built around.
Term
Cold War
Definition
A state of heightened tension that existed between the Eastern and Western parts of the world, lasting from the end of World War II until approximately 1991.
Term
Culture
Definition
The customs, habits, and traditions of a particular group of people.
Term
Diversification
Definition
Management of risks by spreading out financial investments among a number of different securities or business ventures.
Term
Expansion
Definition
The stage of the business cycle characterized by increased spending and borrowing, increased demand for goods and services, and decreased interest rates on loans.
Term
Exporting
Definition
The process of selling good and services to individuals, businesses, or governments in other countries.
Term
Franchise
Definition
A contractual agreement between a parent colossally and a franchisee to distribute goods and services.
Term
Globalization
Definition
The rapid and unimpeded flow of capital, labor and ideas across national borders.
Term
Human resources
Definition
People who work to produce good and services.
Term
Infrastructure
Definition
The basic roadways, utilities, and other services (police, fire, etc.) that create a foundation for society.
Term
Iron Curtain
Definition
A term referring to the ideological separation of East and West during the Cold War.
Term
Joint Venture
Definition
An arrangement that involves two or more businesses entering into a relationship by combining complementary resources such as technology, skills, capital, or distribution channels, for the benefit of all parties
Term
Licensing
Definition
A business structure that requires the authorization or permission from an owner to another entity to use trademarked, copyrighted (e.g., logo, name), or patented material for a specific activity, during a specific time period, for the profit of both parties.
Term
Market Research
Definition
The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market.
Term
Market Share
Definition
An organization’s portion of the total industry sales in a specific market.
Term
Multinational Firm
Definition
A company that operates on a worldwide scale.
Term
Nationalism
Definition
A sense of pride in one’s own country that can create a resistance to outside influences.
Term
Natural Resources
Definition
Items that are found in nature and used to produce goods and services.
Term
Offshoring
Definition
Producing goods in foreign countries; typically involves moving domestic jobs overseas.
Term
Royalties
Definition
A percentage of actual sales that a licensee pays to a licensor; usually anywhere from 5 to 15 percent.
Term
Strategic Alliance
Definition
An arrangement that involves two or more businesses entering into a relationship by combining complementary resources such as technology, skills, capital, or distribution channels, for the benefit of all parties: Joint venture.
Term
Target Market
Definition
The particular group of customers a business seeks to attract.
Term
Tax Haven
Definition
A country that offers low or no tax rates.
Term
Wholly owned subsidiary
Definition
A business entity completely owned and controlled by its parent company.
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