Related Entries of the International Encyclopedia:

1. Agglomeration Economies of Agglomeration and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economies of Agglomeration: Cost savings that occur when industrial flm1s are located in close proximity to each other and are [...]...
2. Learning Curve Learning Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Learning Curve: A technological regularity observed in many leading-edge industries, in which the marginal cost of production tends to fall as [...]...
3. Fair Trade Fair Trade and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Fair Trade: International trade involving shipments that do not benefit from government assistance. Fair trade --and the related concept of unfair [...]...
4. Technology Policy Technology Policy and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Technology Policy: Government measures or programs to promote innovation and adoption of new technologies in key industries. Such tools [...]...
5. Absolute Advantage Absolute Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Absolute Advantage: The ability of a country to supply a particular product or class of goods at lower costs than competing nations. See [...]...
6. Quota Rents Quota Rents and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Quota Rents: The increase in profits that accrue to an import dealer (under an import quota) or an exporting firm (under an export quota or [...]...
7. Export Guarantees Export Guarantees and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Guarantees: Assurances by an exporter's government that financing provided by a private lender will be [...]...
8. Structural Change Structural Change and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Structural Change: Changes in the relative importance of different sectors of an economy over time, usually measured in terms of their [...]...
9. Forfeiting Forfeiting and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Forfeiting: A means of financing foreign trade based upon the transfer of debt obligations arising from the sale of goods and services, usually exports....
10. Export Credits Group on Export Credits and Credit Guarantees in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Group on Export Credits and Credit Guarantees: A subgroup of the OECD Trade .Committee,comprising all OECD [...]...
11. Soft Loan A loan repayable by a foreign borrower in a Soft Currency (read this and related legal terms for further details). Such loans usually have been the product of long-term sales to countries without hard currency repayment ......
12. Commodity Summary of Commodity A nondifferentiated product produced with commonly available technology.(Main Author: William J. Miller) The Legal History of Commodity in Islamic Law This section provides an overview of Commodity in Islamic Law Commodity in International Trade Meaning of [...]...
13. Restrictive Business Practices Restrictive Business Practices and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Restrictive Business Practices: Actions of private or public enterprises --such as collusion among the leading international [...]...
14. Market Failure Market Imperfections or Market Failure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Imperfections or Market Failure: Often refers to two sources of departure from perfect competition, i.e., [...]...
15. Cross-subsidization Cross-subsidization and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Cross-subsidization: The use of financial resources accumulated by a multinational f1rn1 in one part of the world to fight a competitive [...]...
16. Comparative Advantage Revealed Comparative Advantage and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Revealed Comparative Advantage: A measure of relative competitive performance of a country's exporters of a particular [...]...
17. Adjustment Costs Adjustment Costs and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Adjustment Costs: The economic and social costs of reallocating resources from .domestic industries forced to contract as a result of [...]...
18. Competitive Performance Competitive Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Performance: The measurable results of competitiveness --i.e., the outcome of a country's or a firm's efforts in [...]...
19. Deadweight Loss Deadweight Loss and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Deadweight Loss: The net cost to society due to market imperfections or government interventions such as trade restrictions --i.e., losses by [...]...
20. Import Substitution Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part [...]...
21. Shakeout Shakeout and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Shakeout: A condition that may occur as a result of innovation or technological change in a competitive industry. Because the introduction of new [...]...
22. Trade Balance J-Curve and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of J-Curve: The expected adjustment path in a country's trade balance following a currency depreciation or devaluation. Because a change in the [...]...
23. Industrial Policy Industrial Policy and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Industrial Policy: A program of selective government interventions designed to change the sectoral composition of a country's economy [...]...
24. Competitive Policies and Practices Competitive Policies and Practices and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive Policies and Practices: Actions by governments or firms to affect their competitive performance in [...]...
25. Centre for Economic Policy Research Centre for Economic Policy Research (CEPR) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Centre for Economic Policy Research (CEPR): A British research institute specializing in international trade and [...]...
26. Airbus Airbus and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Airbus: Refers to commercial aircraft produced by Airbus Industry, a government- backed consortium comprising Aerospatiale (France), Daimler [...]...
27. Market Power Market Power and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Power: The ability of an individual firm to exert control over prices prevailing in the markets for its products or services. The highest [...]...
28. Imperfect Competition Imperfect Competition and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Imperfect Competition: When an industry is marked by imperfect competition, market prices send "incorrect signals" regarding [...]...
29. Export Enhancement Program Export Enhancement Program (EEP) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Enhancement Program (EEP): A system of agricultural export subsidies maintained by the United [...]...
30. Consortium Summary of Consortium A multiparty commercial undertaking, differing from a joint venture by virtue of the comparatively large number of participants.(Main Author: William J. Miller) Consortium and International Trade Economy In relation to international trade economy, [...]...
31. Tying Contract Tying Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Tying Contract: (Also known as a tie-in contract or bundling.) A restraint of trade ~ arrangement by which a product can be purchased only [...]...
32. Turnover Summary of Turnover The rate at which sales occur, relative to the capital employed. For example, if sales are one million dollars, and capital employed is one hundred thousand, the capital turnover is ten.(Main Author: William J. Miller) Turnover and International Trade Economy [...]...
33. Futures Contract Futures Contract and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Futures Contract: A contract for goods, foreign exchange, or financial assets to be delivered at a certain future date on terms and at [...]...
34. Short-Term Capital Short-Term Capital Transactions and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Short-Term Capital Transactions: An element of a country's balance of payments that reflects loans granted to or received [...]...
35. Export Restraints Export Restraints and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Restraints: Also referred to as bilateral restraint agreements. Quantitative restrictions applied by exporting [...]...
36. North-South Trade North-South Trade and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of North-South Trade: In the parlance of the 1970s and 1980s, trade between the developed market economies ("the [...]...
37. Export Controls Export Controls and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Export Controls: Regulations or restrictions applied to exports by the government of the exporting country to limit [...]...
38. Compensatory Tax A special import levy imposed by the European Economic Community upon certain agricultural imports when the entry price of such products falls below a reference, or minimum target, price and the import is priced so as to reflect an export subsidy. Compensatory taxes are institutionalized in the [...]...
39. Export Duty A tax imposed on exports. This mechanism serves as a source of government revenue and is imposed by some countries on a limited number of products. Export duties are expressly forbidden by the U.S. Constitution.......
40. Administrative Guidance Administrative Guidance (Gyosei-Shido) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Administrative Guidance (Gyosei-Shido): A system of industrial policy used in Japan since the early 1960s. The term [...]...
41. Multilateralism Multilateralism and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Multilateralism: An approach to trade policy focusing on multilateral negotiations (as opposed to bilateral negotiations or regional trade [...]...
42. Track Track I and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Track I: Designation for consolidated negotiating activities in the final phase of the Uruguay Roundconcerning market access in goods....
43. Defense Policy Advisory Committee on Trade Defense Policy Advisory Committee on Trade (DPACT) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Defense Policy Advisory Committee on Trade (DPACT): A policy-Ievel committee that funds part of the [...]...
44. Competitive Competitive and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competitive: As applied to internationally traded goods, refers to a country's or a firm's products being preferred by a significant [...]...
45. Trade Negotiations Committee Trade Negotiations Committee (TNC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Trade Negotiations Committee (TNC): The steering group established at the outset of the GA 1TUruguay Round (Sec. I) to [...]...
46. Intra-Industry Trade Inter-Industry and Intra-Industry Trade and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Inter-Industry and Intra-Industry Trade: Inter-industry trade involves exchanges between countries that link [...]...
47. Asia Dynamic Asian Economies (DAEs) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Dynamic Asian Economies (DAEs): In recent OECD discussions and publications, this term has been used to [...]...
48. Trade Policy Research Centre Trade Policy Research Centre in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Trade Policy Research Centre: A London-based organization established in 1968 to promote independent research and discussion of [...]...
49. TSUSA TSUSA and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data are recorded according to 10,500 [...]...
50. Mixed Credits Mixed Credits and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Mixed Credits: Exceptionally liberal financing terms for an export sale. Ostensibly provided for foreign aid purposes, [...]...
51. Political Risk An economic risk assumed by foreign creditors that political or military conditions in a debtor's country may preclude settlement of the obligation when due.......
52. Unrequited Transfer A transfer payment, ie., the transfer of assets from one nation to another without expectation of recompense.......
53. MITI MITI in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of MITI: Japan's Ministry of International Trade and Industry, responsible for international trade policy (including trade finance and export [...]...
54. Upstream Subsidization Upstream Subsidization and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Upstream Subsidization: An "indirect export subsidy," whereby a producer benefiting from a government [...]...
55. Enterprise Enterprise for the Americas Initiative and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Enterprise for the Americas Initiative: A program launched in 1990 as a vehicle for defining a [...]...
56. Credit Guarantees Group on Export Credits and Credit Guarantees in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Group on Export Credits and Credit Guarantees: A subgroup of the OECD Trade .Committee,comprising all OECD [...]...
57. Export Subsidy Summary of Export Subsidy A direct payment, tax relief, or other incentive provided by a government to encourage export sales. The use of such devices is apt to be regarded as undesirable by the importing nation and may result in the imposition of Countervailing Duties (read this legal term [...]...
58. Voluntary Export Restraints Summary of Voluntary Export Restraints Synonymous with Orderly Marketing Agreement (q.v. See Bilateral Restraints Agreement.(Main Author: William J. Miller) Voluntary Export Restraints (VERs) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, [...]...
59. Centre for Economic Performance Centre for Economic Performance (CEP) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Centre for Economic Performance (CEP): A British research institute funded by the government as well as by [...]...
60. Multilateral Trade Organization Multilateral Trade Organization (MTO) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Multilateral Trade Organization (MTO): A proposed organization that would subsume the GAIT,the General Agreement on [...]...
61. Level Playing Field Level Playing Field and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Level Playing Field: A concept or slogan employed by those calling for efforts to secure both free trade and fair trade. The term alludes [...]...
62. East- West Trade A general reference to trade between the industrial nations of the West, particularly those nations that are members of the Organization for Economic Cooperation and Development ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
63. Tariff Schedules Tariff Schedules of the United States, Annotated, and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of TSUSA (Tariff Schedules of the United States, Annotated): The classification system in which US import data [...]...
64. Industrialized Countries Industrial Countries or Industrialized Countries and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Industrial Countries or Industrialized Countries: (Also known as developed countries) A [...]...
65. East Bloc Countries Former East Bloc Countries and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Former East Bloc Countries: Countries that comprised the now-defunct East Bloc (i.e., those "dominated [...]...
66. Economies of Scope Economies of Scope and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economies of Scope: Cost savings that occur when reductions in average total costs can be achieved by increasing the number of distinct [...]...
67. Industrializing Economies Newly Industrializing Economies (NIEs) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Newly Industrializing Economies (NIEs): A subgroup of developing countries that have experienced [...]...
68. Centrally Planned Economies Former Centrally Planned Economies and International Trade Resources See Also countries in transition...
69. Meetings of Major Economies Meetings of Major Economies in 2011 United States views on international law (based on the document "Digest of U.S. Practice in International Law"): In 2009, President Obama announced the inception of the Major Economies Forum on Energy and Climate ("MEF"). see this world [...]...
70. Small Scale Resources See Also Enterprise Joint Enterprise Joint Venture...
71. Troubled Economies Ict Investments and Recovery of Troubled Economies, the Law and other Social Sciences The economy of any country can thrive, decline or remain steady. A declining economy is a troubled one and it is necessary to find ways to reverse its course. Naturally, there is no single recipe to put a [...]...
72. Beaufort Scale A scale of wind force at sea, adjusted for the angle between the direction of the wind and the ship's course and speed. The figure shows how wind force is expressed. Beaufort ScaleBeaufort Number Sea Conditions Knots0 Calm less than 11 Light air 1-3...
73. Sliding Scale Tariff A customs tariff in which rates of DUTY (read this and related legal terms for further details) vary according to the price of a given import. Usually, as the price of the item declines, the duty is reduced. Duties may b......
74. Small Scale Industry Small Scale Industry Resources See Also Industry Industrial Unionism Labor Law Industrial Disputes Business Law Resources See Also Economy Economic System Legal System Capitalism...
75. Small Scale Irrigation Scheme Resources See Also Credit Union Cooperative Collective...
76. International Tanker Nominal Freight Scale A schedule of nominal rates for movements of tankers between world ports. Publication was ceased in 1969; it has been succeeded by Worldscale (read this and related legal terms for further details).......
77. Economic Nationalism A conscious, articulated national drive toward economic self-sufficiency. Economic nationalism is comparable to Autarchy (read this and related legal terms for further details) but does not mandate the economic isolation......
78. Economic Vulnerability Economic Vulnerability and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Vulnerability: In the context of trade relations, the proportion of a country's GNP accounted for by exports and imports [...]...
79. Economic Profit Economic Profit and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Profit: The amount by which a producer's income exceeds total operating costs, including the cost of capital provided by the [...]...
80. Economic Rent Economic Rent and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Economic Rent: The gain to a producer or resource owner resulting from a trade barrier or other restriction of supply that leads to a higher [...]...
81. ECU Ecu Summary of Ecu The European Monetary System is considered here.(Main Author: William J. Miller) ECU and International Trade Economy ECU (European Currency Unit) and Europe There is an entry on ecu (european currency unit) in the European legal encyclopedia. ECU and the [...]...
82. Economic Union Summary of Economic Union Also known as an economic community, an advanced form of economic integration on the part of several states. The economic union incorporates the features of a Common market (read this and related legal terms for further details)—unrestricted free trade among [...]...
83. Effective Rate of Protection The net protection afforded by a nation's tariff system to any given domestic product. For example, the higher the rate of duty, the greater the protection against foreign imports; conversely, as rates are increased on raw materials or production inputs, the costs of domestic production are [...]...
84. Entente Literally, "an agreement." In political usage, an understanding among governments as represented by accords on important areas. Commercially, the term is used on the Continent as a synonym for a cartel.......
85. Export Management Company A private company that serves as the export department of other firms, usually small- and medium-size manufacturers. An EMC will provide a variety of services for its clients, to include locating customers abroad, arranging transportation and financing for the merchandise, developing foreign [...]...
86. Horizontal Integration Summary of Horizontal Integration Also known as horizontal expansion, the expansion of a firm through the acquisition of additional production capacity in its primary field. For example, a shipping company may expand horizontally by acquiring other vessels on the same trade route.(Main [...]...
87. Joint Venture Summary of Joint Venture A business enterprise with more than one equity participant; for example, an agreement between a German firm and a U.S. firm to capitalize jointly a new factory in Venezuela. Many countries impose restrictions on joint ventures; these restrictions may take the form [...]...
88. Vertical Integration Summary of Vertical Integration Also known as vertical expansion, the incorporation into a business or economy of earlier or subsequent stages in the channel of production. For example, a chemical producer may undertake (backward) vertical integration by producing its own petroleum as raw [...]...
89. Economic Cooperation Organization Introduction to Economic Cooperation Organization Economic Cooperation Organization (ECO), an organization that promotes economic and cultural cooperation between Islamic states (see Islam). Established in 1985, its original members were Iran, Pakistan, and Turkey. The conclusion of the Sovi......
90. Economic Community of Great Lakes Countries Economic Community of Great Lakes Countries or Communaute Economique des Pays des Grands Lacs (CEPGL) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Economic Community of Great Lakes Countries or [...]...
91. Economic Community of Central African States Economic Community of Central African States or Communaute Economique des Etats de I' Afrique Centrale (CEEAC) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Economic Community of Central African [...]...
92. Economic Strategy Institute Economic Strategy Institute in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of Economic Strategy Institute: A private organization based in Washington, DC, that conducts studies and makes policy [...]...
93. Export Trading Company Export Trading Company and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export Trading Company: (Also known as an export management company.) A private firm that provides related-related services to other [...]...
94. Export-Led Growth Export-Led Growth and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export-Led Growth: A macroeconomic strategy focusing on expansion of the export sector --such as through export subsidies or competitive [...]...
95. European Currency Unit (ECU) European Currency Unit (ECU) and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of European Currency Unit (ECU): A unit of value based on a "currency basket" comprising specific amounts of the [...]...
96. Excess Capacity Excess Capacity and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Excess Capacity: Occurs when a firm or industry is operating below cost-minimizing levels of output. "Permanent excess capacity" is [...]...
97. Export Platforms Export Platforms and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Export Platforms: Refers to countries such as Mexico, Taiwan, Singapore, Malaysia, and South Korea that established incentive programs [...]...
98. Externalities Externalities and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Externalities: Spillover benefits or costs arising from an economic activity that are not taken into account by producers, resulting in levels [...]...
99. Exclusive Dealing Exclusive Dealing and International Trade Economy Resources See Also vertical restraints...
100. Economic Summit Economic Summit and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Economic Summit: Although the term can be used more generally, its most prominent use is in referring to the annual [...]...
101. Economic Order New International Economic Order (NIEO) and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of New International Economic Order (NIEO): An agenda for discussions between industrial and [...]...
102. Economic Partnership New Economic Partnership and International Trade Resources See Also Framework Initiative...
103. Economic Sanctions UN Sanctions against Iran Note: for more information, click here. United Nations Sanctions against Iran by Title, Description and Date: UN Security Council Resolution 1696: Resolution expressing the Security Council's concern about the direction of Iran's nuclear program. (July 31, [...]...
104. Protectionism Protectionism Definition Protectionism may be defined as government policies that favor domestic products over imported goods. The debate between protectionism and free trade has been a continuing issue in United States politics. Meanings For information on: * systematic protectionism [...]...
105. Economic Analysis of Law ContentsEconomic Analysis of LawIntroduction: Critical legal studiesCritical Legal Studies Movement DevelopmentFurther ReadingNotesSee Also Economic Analysis of Law Introduction: Critical legal ... Read more...
106. Administered Pricing A condition in which the prices of certain goods and/or services are determined by governmental authority, supplier cartels (legal or illegal), or trade associations, and not by market forces. The purpose of administered pricing is to eliminate price competition or to maintain price stability [...]...
107. Balance of Payments Balance Of Payments Summary of Balance Of Payments The sum owed to or by a nation as the result of its international transactions during a given time period, usually one year. The balance of payments is calculated by subtracting the nation's total payments to foreigners from total [...]...
108. Conventional International Law International law that has arisen as the product of treaties or formal agreements among nations, as compared with international law that has developed through custom and usage over time.......
109. Cross-licensing An arrangement in which one firm grants to another licenses to exploit proprietary rights in its patents or trademarks, secret processes, et cetera, in return for similar licensure to use the rights or processes of the recipient firm.......
110. Current Account Summary of Current Account An entry in a nation's balance of payments accounts reflecting the purchase of goods or services for consumption immediately or in the near future. See Balance of Payments.(Main Author: William J. Miller) Current Account and International Trade [...]...
111. Cutthroat Competition A discriminatory pricing practice whereby one vendor deliberately reduces prices to a low level with the object of driving out competition, thereby creating a monopoly or dominant market share. In the United States such practices are banned, although they are often employed in foreign countries.......
112. Defensive Investment An investment undertaken to protect larger commercial interests rather than for the return that the investment itself generates.......
113. Economic Integration Summary of Economic Integration The process of unifying two or more national economies through conscious coordination of trade, fiscal, and monetary activities. Economic integration is normally preceded by the reduction or abolition of tariffs, quotas, and similar constraints upon trade [...]...
114. Economic Mobilization The orchestration and direction of a nation's economic resources under governmental auspices, toward the attainment of a clear national goal, such as the prosecution of a war. Mobilization may involve the allocation of labor and raw materials to essential projects on a priority basis, rationing ......
115. Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
116. Oligopoly Summary of Oligopoly Literally, a market in which there are only a few sellers of a given product or service. Under oligopolistic conditions, no one seller can establish market prices, except in concert with the other suppliers; if such concerted action develops, the suppliers are operating [...]...
117. Patent Summary of Patent A grant issued by a governmental authority to an inventor permitting, for a fixed number of years, an exclusive right to the invention. The grant includes the prerogative of preventing others from making, using, or selling the invention covered. Through various [...]...
118. Repatriation Summary of Repatriation The transfer of investment proceeds or the return of capital from a foreign country back to the home country of the investor.(Main Author: William J. Miller) Repatriation and International Trade Economy In relation to international trade economy, [...]...
119. Restraint of Trade Combinations, contracts, agreements, or arrangements, either oral or written, designed to effect a monopoly, impede competition, fix prices, retard entry into the field, or otherwise obstruct trade that would otherwise occur if left to natural economic forces. Acts in restraint of trade are [...]...
120. Specialization Agreement Also known as a rationalization agreement, an arrangement among competing manufacturers of like products that each will sell only certain products, thereby providing each participant in the agreement a dominant position for a given product.......