1572024 Intemational Business Miaterm (Ch 1-8) Flashcards | Quzlet International Business Midterm (Ch 1-8) Terms in this set (85) globalization the shift towards a more integrated and inter- depended world economy Globalization is occurring in 2 parts: 1) Globalization of markets 2) globalization of products General Agreement on a trade agreement between the Allied nations after Tariffs and Trade (GAFF) wwil World Trade the world forum for international trade Organization (WTO) International Monetary Fund (IMF) International institution that provides loans to countries with payment problems (can't pay bills) Created to help finance countries for globalization World Bank International institution that provide loans to grow economies United Nations International institution that was created to preserve peace and reduce conflict between trading nations. (They agree to seek peace first) International Business a business that engages in international trade or investment in more than 1 country htpssquilet.com/99139047/ntemationa-business-midien-ch-t-S-lash-cards! 4241572024 Intemational Business Miaterm (Ch 1-8) Flashcards | Quzlet Multinational Enterprises a business that has production activities in more than 1 country political system a system of government in action 4 types of political systems 1) Individualism 2) Collectivism 3) Democracy 4) Totalitarianism 3 types of economies 1) market economy 2) command economy 3) mixed economy legal system a system of rules and laws that regulate behavior and provides a process of grievances 3 types laws that exist within legal systems 1) common law 2) civil law 3) theocratic law Contracts for the International Sale of Goods (CIGS) uniform set of rules that governs commercial contract between different nations htpssquile.comv99139047/ntemationa-business-midienm-ch-t-Slash-cards! 22