Related Entries of the International Encyclopedia:

1. Withdrawal Price A floor price at which European Economic Community producers of certain food products may withhold their goods from the market. The withdrawal price is generally below the base price (i.e., the target price set for a given commodity) and the purchase price at which EEC governments will intervene in ......
2. Intervention Price The price at which the European Economic Community, in accordance with the Common Agricultural Policy (read this and related legal terms for further details), will intervene in the market to buy excess agricultural produ......
3. Indicative Price Also known as the norm price, the Target Price (read this and related legal terms for further details) for producers of olive oil under the common agricultural policy (...
4. Reference Price A mechanism of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community designed to prevent disruptive import competition for certain vegetables, fruits, f......
5. Price Discrimination Price Discrimination and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Price Discrimination: The practice of charging unequal prices to different buyers of products that are essentially identical, when such [...]...
6. Target Price An important concept within the common agricultural policy (read this and related legal terms for further details) of the European Economic Community. It represents an optimum wholesale price within the community for a g......
7. Base Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, a trigger price for specific commodities at which member states will intervene to support the market price of a commodity. Member states may respond to a decline in market prices below the base price by la......
8. Threshold Price A minimum import price for commodities established under the common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community, set so as not to hamper sales of EEC pro......
9. Industrial Targeting Industrial Targeting and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Industrial Targeting: Selection by a government of industries deemed imponant to the evolution of the economy, and encouraging their [...]...
10. 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 [...]...
11. Arbitrage Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy [...]...
12. Barter Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter [...]...
13. 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 [...]...
14. Dumping Margin In those instances where a product has been dumped, that is, sold abroad at a price below the fair market value in the country of origin, the dumping margin is the difference between the home market price and the price at which the goods are sold abroad less incidental charges, such as export [...]...
15. Guide Price As used in conjunction with the European Economic Community's Common Agricultural Policy on cattle and calves, it is synonymous with Orientation Price (read this and related legal terms for further details).......
16. Purchase Price Defined in 19 U.S.C. 162 as the price at which imported merchandise has been purchased, or will be purchased, prior to exportation. It is usually based on the ex factory price excluding any export duties levied in the country of manufacture. Within the framework of the European Economic Community......
17. Entry Price Under the common agriculture POLICY (read this and related legal terms for further details) of the European Economic Community, the price at which certain imported agricultural products enter EEC commerce. If the entry p......
18. Common External Tariff Summary of Common External Tariff The uniform customs tariff applied by all the member states of a customs union or common market to imports from nonmember nations.(Main Author: William J. Miller) Common External Tariff and the GATT Policy Negotiations In relation to the GATT [...]...
19. Orientation Price As used in conjunction with the Common Agricultural Policy of the European Economic Community it is the target price (read this and related legal terms for further details) for cattle and calves, i.e., the equilibrium pr......
20. 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 [...]...
21. Gate Price The minimum price at which pork, poultry, and eggs werw permitted to enter the European Economic Community under the common AGRICULTURAL POLICY (read this and related legal terms for further details) without imposition o......
22. Standard Price The target price (read this and related legal terms for further details) for tobacco under the Common Agricultural Policy of the European Economic Community.......
23. Cartel Summary of Cartel An alliance among firms in the same line of business aimed at controlling or dominating their field on an international basis.(Main Author: William J. Miller) Definition of Cartel In accordance with the work A Dictionary of Law, this is a description of Cartel : [...]...
24. Buffer Stocks Buffer Stocks and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Buffer Stocks: Commodity stocks managed by countries or international organizations to moderate market price fluctuations. When prices rise [...]...
25. 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 [...]...
26. Laissez-faire Laissez Faire Summary of Laissez Faire A doctrine that government should refrain from any form of trade regulation, leaving productivity and distribution of wealth purely to market forces and individual industry. The concept arose around the beginning of the eighteenth century in France, [...]...
27. Minimum Import Price As used in conjunction with the Common Agricultural Policy of the European Economic Community, Gate price (read this and related legal terms for further details).......
28. Price Supports A program of governmental action designed to stabilize or lift the price that producers receive for their products. These actions may include direct cash payments, government purchase of output to force up market prices, or special financing. Such supports are most commonly applied to agriculture.......
29. Terms of Trade Summary of Terms of Trade An export-import price ratio derived by dividing indices of export prices by indices of import prices. For example, when export indices are 105 percent of a base period, and import indices are 98 percent of the same base period, then the terms of trade [...]...
30. Dumping Dumping in International Trade Meaning of Dumping, according to the Dictionary of International Trade (Global Negotiator): The practice of selling a product in a foreign market at an unfairly low price (a price that is lower than the cost in the home market, or which is lower than the cost of [...]...
31. Normal Price Within the scope of the Brussels Definition Of Value (read this and related legal terms for further details), the value basis upon which ad valorem duties will be assessed on imports. The normal price is the price the go......
32. Caricom Caricom Caricom in International Trade Meaning of Caricom, according to the Dictionary of International Trade (Global Negotiator): The Caribbean Community Market (CARICOM) is an organization of 15 Caribbean nations established in 1973 whose main purposes are to promote economic integration and [...]...
33. 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 [...]...
34. Ethnocentric Pricing The policy of a firm to offer its products at the same price abroad as in the home market, irrespective of price sensitivity or other factors of the foreign market.......
35. Commodity Agreement Commodity Agreement and the GATT Policy Negotiations In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of Commodity Agreement: A formal international arrangement among exporters and importers of a commodity. Such [...]...
36. Free Trade Area Summary of Free Trade Area An association of states that seeks to overcome impediments to trade among members by reducing or eliminating tariffs among the participants. The members of a free trade area do not maintain a common external tariff nor do they (usually) provide for the free flow [...]...
37. Trade Creation The substitution of lower- cost foreign goods for higher-cost domestic manufactures.......
38. Consumer Price Index Summary of Consumer Price Index An index of the retail price of four hundred consumer products and services, computed monthly by the Bureau of Labor Statistics. Formerly known as the Cost of Living Index, the compilation includes retail price inputs of given items from many cities across [...]...
39. Domestic Subsidy An economic grant provided by a governmental authority to a domestic manufacturer, grower, or producer to increase industrial activity or stimulate output of desired products. Economic incentives may come in the form of direct payments, tax relief, low-interest financing, wage subsidies, or in [...]...
40. 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 [...]...
41. Social Dialogue Social dialogue in the International Trade Union Rights Area Definition of Social dialogue provided by ITUC-CSI-IGB: Discussion and co-operation between the social partners on matters of common interest, such as economic and social policy. Involves participation by the state where tripartism [...]...
42. Deindustrialization Deindustrialization and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Deindustrialization: A term denoting a negative impact of international competition on the overall size of a country's manufacturing [...]...
43. 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 [...]...
44. Devaluation Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase [...]...
45. 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 [...]...
46. Invisibles Synonymous with Invisible Exports And Imports (read this and related legal terms for further details).......
47. Trade Barrier Summary of Trade Barrier Constraints upon the exchange of goods among nations imposed by governments; such constraints are manifested in the form of tariffs, quotas, exchange controls, and a variety of so-called nontariff barriers. Barriers usually arise to protect domestic industries, [...]...
48. Spot Price The price of a commodity in the Spot Market (read this and related legal terms for further details), i.e., the price quoted for immediate sale and delivery. ......
49. 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 [...]...
50. Deflation Summary of Deflation A decline in the general level of prices, attributable to excessive savings or other factors that have reduced consumption relative to the supply of goods available. Very often, deflation is reflected during the decline phase of the business cycle. There has been no [...]...
51. Industrial Law Industrial and Labor Law Contents of Industrial and Labor Law Contents of this subject matter include:What is Labor law? Sources of Labor law; regulatory bodies; industrial organizations Purposes and Theories of Labor law The History and Constitutional Basis of American Labor Law Employment [...]...
52. 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......
53. Organization For European Economic Cooperation Organization For European Economic Cooperation Summary of Organization For European Economic Cooperation A post-World War II organization established to coordinate the reconstruction of Europe. The OEEC arose in response to an Anglo-French declaration in 1947 calling for European [...]...
54. Supplementary Levy An additional tax that may be imposed upon imports of pork, poultry, or eggs into the European Economic Community when the purchase price of such items falls below the Gate Price ("https://lawin.org/list-of-international-trade-law-terms/">read this and related legal terms for [...]...
55. International Organization for Standardization International Organization for Standardization; sometimes referred to as the International Standards Organization (ISO) in relation with International Trade In the context of trade organizations, Christopher Mark (1993) provided the following definition of International Organization for [...]...
56. Industries Sunrise vs Sunset Industries and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Sunrise vs Sunset Industries. The term "sunrise" refers to industries with the greatest potential for growth and [...]...
57. Financial Solidarity A component principle of the Common Agricultural Policy (read this and related legal terms for further details) of the European Economic Community.......
58. Trigger Price Mechanism A program of import surveillance instituted by the U.S. government in 1977. Under this scheme, a floor price is established for designated import items; this floor is predicated upon the production cost of the most efficient foreign producer, with adjustments for freight and currency [...]...
59. 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 [...]...
60. Labor Economics Resources See Also Economic Development Economic Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy...
61. Restitutions Export and producer subsidies granted by the European Economic Community to EEC farmers and processors. The subsidies are a feature of the Common Agricultural Policy (read this and related legal terms for further details......
62. Industrial Sector Resources See Also International Economic Law Economy Foreign Direct Investment Economic Law...
63. London Interbank Offered Rate Often abbreviated as LIBOR, the rate at which major London banks will lend funds to each other. It is used as a money market index, and loans are often expressed in terms of LIBOR plus a percentage. LIBOR is used, in Eurodollar loans, as an equivalent to prime rate in the United States.......
64. Society For Worldwide Interbank Financial Telecommunications An organization, commonly known as SWIFT, established in 1977 by the international banking community to facilitate transactions among member banks. The SWIFT system is a data processing network for the purpose of remitting and collecting funds among the members. Banks interface with the system throu......
65. Central Market A spot commodity market that serves as a national or regional center of trading activity, and often large-scale distribution of the products as well. Transactions are usually performed by dealers who serve as intermediary brokers between buyers and sellers.......
66. Common Market Summary of Common Market A supranational organization of trading nations, created to promote economic collaboration and minimize constraints on the free movement of goods among the member states. Features of a common market include elimination of tariffs on goods moving between member [...]...
67. Fair Market Value The value an imported product would fetch, under similar circumstances of sale, were the goods sold in the country of origin. Customs authorities are usually interested in the fair market value of imported merchandise inasmuch as sales below such value may serve as the basis of a Dumping (...
68. Free Market The economic system of a nation in which market forces determine which goods and services are produced, and at what price they are offered. Free market economies do not contain substantial government controls on resource availability, price levels, or central planning of economic objectives.......
69. Market Access Summary of Market Access The degree of participation in the domestic market that a nation allows to foreign suppliers. Tariffs, quotas, and similar protective devices are devices imposed to limit market access. (Main Author: William J. Miller) Market Access and National Treatment in the [...]...
70. Market Disruption A condition in which foreign imports of a given product increase in quantity so rapidly as to cause, or threaten to cause, material injury to a competing domestic industry. A finding of market disruption before the International Trade Commission may result in retaliatory actions against the [...]...
71. Internal Market Meaning of Internal market Here is a very short concept of internal market in the European Union framework: Another term for the single market; also known as the common market, although that expression has wider connotations. Resources Notas y References See Also...
72. International Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
73. Andean Common Market Considered in Andean Group.......
74. Carribbean Community And Common Market Commonly known as Caricom, the successor organization to the defunct Caribbean Free Trade Association (Carifta). The object of CARICOM was to stimulate regional development through the adoption of a common external tariff and uniform protectionist measures, harmonization of fiscal affairs, and conce......
75. Central American Common Market Summary of Central American Common Market A free trade area among the nations of Central America, established in 1960 by a treaty between El Salvador, Guatemala, Honduras, and Nicaragua. The common market began operations in 1961, and Costa Rica joined the group in 1962. Honduras dropped [...]...
76. Dual Exchange Market A governmentally mandated system for the handling of foreign exchange transactions under which officially sanctioned imports or other approved transactions are accommodated at a given, prescribed rate of exchange while other transactions employ the market rate of exchange. For a listing of countries......
77. Foreign Market Price For purposes of customs valuation comparisons, generally the price of like merchandise sold for consumption in the country of origin.......
78. London Discount Market The group of London discount houses that make a market for short-term government and commercial paper. The discount market is financed by secured loans from the London clearing banks.......
79. Internal Labor Market Resources See Also Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy...
80. Primary Market A spot commodity market dealing in a local producing area. Ordinarily such markets develop around local transportation centers.......
81. Single Market Summary of Single Market A component feature of the Common Agricultural policy (read this and related legal terms for further details) of the European Economic Community.(Main Author: William J. Miller) Single Market and Europe There is an entry on single market in the European [...]...
82. Spot Market A market for commodities or currency in which the sale results in an immediate or nearly immediate exchange of the goods or instruments for cash, as compared with a futures market, which trades in contracts for the future delivery of the product.......
83. European Common Market European Common MarketCross-reference: European Economic Community and European Union.......
84. Market-Oriented Distribution Center A product distribution center located close to the point of consumption rather than the point of manufacture. For example, an American manufacturer of a product sold in Europe might supply European customers from a (market-oriented) distribution center in Rotterdam, rather than directly from the U.S......
85. Open Market Operations A principal vehicle of the Federal Reserve system in expanding or contracting bank reserves. The Federal Open Market Committee, consisting of the entire Board of Governors of the Federal Reserve system, plus representatives of five of the twelve regional Federal Reserve banks (the New York Federal R......
86. Arab Common Market Arab Common Market Outline The ACM came into existence in 1965, pursuant to an agreement signed in 1964 by the Arab League states. Its initial members included Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine Liberation Organisation, Somalia, Sudan, Syria, United Arab Emirates, Yeme......
87. Islamic Common Market Islamic Common Market in International Trade Resources See Also Economic Cooperation Organization....
88. Market Market Reserve Policies and International Trade Resources See Also Economy Economic System Legal System Capitalism Resources See Also Law of Similars...
89. Market Value Embracing mainstream international law, this section on market value explores the context, history and effect of the area of the law covered here. Resources Further Reading The entry "market value" in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the [...]...
90. At the Market Resources See Also Market order...
91. Market-Inalienability ContentsMarket-InalienabilityConclusionNotesSee AlsoReferences and Further ReadingAbout the Author/s and Reviewer/sMentioned in these Entries Market-Inalienability   Margaret Jane Radin   Things that ... Read more...
92. Black Market Black Market Definition Black Market is the term designating the illicit sale of commodities in violation of government rationing and price-fixing. The term originated in Europe during World War I, when the introduction of rationing in belligerent countries tempted some persons with access [...]...
93. Bonds Market Bonds in this SectionBondHow Bonds WorkTypes of BondsIssu......
94. 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., [...]...
95. Market Structure Market Structure and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Structure: Refers to the structure of an industry or market, as reflected in the number and size distribution of sellers and buyers, [...]...
96. 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 [...]...
97. Market Performance Market Performance and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Market Performance: The principal focus of competition policy, market performance refers to the degree to which a particular industry or [...]...
98. Grey Market Grey Market in International Trade Meaning of Grey Market, according to the Dictionary of International Trade (Global Negotiator): A situation that consists of unauthorized traders buying and selling a company's product in different countries. Companies confronted with a grey situation can [...]...
99. Market Risk Market Risk in International Trade Meaning of Market Risk, according to the Dictionary of International Trade (Global Negotiator): The possibility that results at the time a product is delivered may differ from expectations held at a time it was ordered. For instance, the market price may have [...]...
100. Market Intelligence Improving Competitiveness Through Organizational Market Intelligence: Market Intelligence, the Law and other Social Sciences Market intelligence (MI) is a concept that results in real opportunities for knowledge management in organizations. MI is a cyclic process to deliver knowledge for [...]...
101. Over-the-counter Market Resources See Also NASD NASDAQ...
102. Actual Market Value Resources See Also Market volume...
103. Cornering the Market Resources See Also Corner...
104. Clear Market Value Resources See Also Fair market value...
105. Current Market Value Resources See Also Fair market value...
106. Agricultural Market Resources See Also Farming Farm Bill Agricultural Law Agriculture Reform Agriculture...
107. Market Economy Resources See Also Economy Economic System Legal System Capitalism...
108. Capital Market Resources See Also Finance Consumer Credit Negotiable Instrument Securities Financial Regulation Corporate Finance...
109. Labor Market Resources See Also Labor Employment Law International Labor Law Industrial Safety Labour Labor Right Labor Policy...
110. Market Research Resources See Also Price Policy Price Control Pricing Strategy Dumping...
111. Commodity Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
112. Domestic Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
113. Financial Market Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
114. Market Planning Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
115. Market Stabilization Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
116. Market Study Resources See Also Trade Market White Market Financial Market Trade Law Competition Law...
117. Market Definition Resources See Also Business Law Antitrust Laws...
118. Market Scope Resources See Also Business Law Antitrust Laws...
119. Open Market Captive See Captive Insurance Company.......
120. Caribbean Community and Common Market Caribbean Community and Common Market (CARICOM), organization established in 1973 to promote regional unity and to coordinate economic and foreign policy among Caribbean nations. Member countries include Antigua and Barbuda, Barbados, Belize, Dominica, G......