Transcript Unit 2 Vocabulary

ONLINE BUSINESS
1. A company that conducts
business by means of the
internet.
SERVICES
2. Intangible products that
satisfy consumer’s wants and
neets.
OUTSOURCING
3. Contracting with other
companies for services
STRATEGIC ALLIANCE
4. A partnership formed among
two or more companies
CORPORATE VENTURE
5. A new venture started inside
a larger corporation
INNOVATION
6. A new way of doing things; a
new idea, method, or device.
NICHE
7. A small, specialized segment
of the market based on
customer needs discovered in
market research.
BRAINSTORM
8. To think freely in order to
generate ideas.
DEMOGRAPHICS
9. Personal characteristics that
describe a population be age, gender,
income, ethnic background,
education and occupation, among
others.
TRADE MAGAZINE
10. A periodical published for a
specific type of business or
industry.
SPECIALTY MAGAZINE
11.A periodical published for
people with special interests, such
as sports, camping, fashion, and a
variety of other areas.
TRADE SHOW
12. A gathering or exhibition
where vendors and manufactures
introduce new items and promote
established products and services.
VALUES
The beliefs and principles by
which you choose to live that
define who you are, shape your
attitudes and choices, and help
you identify your priorities.
GOODWILL
14. The favor and loyalty a
business acquires by its good
reputation.
FRANCHISE
15. A legal agreement to begin
a new business in the name of a
recognized company.
FRANCHISEE
16. The buyer of a franchise who is given
the right to its product, process, or
service. The buyer receives the way of
operating a business and a product with
name recognition.
BUSINESS BROKER
17. Someone whose job it is to
bring buyers and sellers of
businesses together for a fee.
GLOBAL ECONOMY
18. The interconnected
economies of the nations of the
world.
EXPORTING
19. The selling and shipping of
goods to other countries.
IMPORTING
20. The buying or bringing in of
goods from other countries to
sell.
TRADE BARRIER
21. A restriction on goods
entering or leaving a country.
TARIFF
22. A type of trade barrier
imposed by a government as a
tax on imported or exported
goods.
GROSS DOMESTIC PRODUCT (GDP)
23. The total market value of all
goods and services produced by
workers and capital within a
nation during a given period.
INTERPRETER
24. A person who translates
one language into or from
another.
STANDARD INDUSTRIAL TRADE
CLASSIFICATION (SITC) CODES
25. A system that details the kinds
of products that are traded in
specific countries and how well
certain products do in different
marketplaces.
INTERNATIONAL BUSINESS
EXCHANGE (IBEX)
26. The electronic commerce
system that allows businesses
to sell products and services
online anywhere in the world.
TRADE MISSIONS
27. An opportunity offered by the U.S.
Government and private agencies to
small businesses to travel to other
countries in order to meet and talk with
foreign agents, distributors, or potential
business partners.
“BEST PROSPECTUS” LIST
28. A list compiled by the
government of products that
other countries are looking to
purchase.
DISPOSABLE INCOME
29. Money people have to
spend after paying for
necessary expenses
TRADE INTERMEDIARY
30. An agency that serves as a
distributor in a foreign country.
FOREIGN JOINT VENTURE
31. An alliance between an
American small business and a
company in another nation.
EXPORT MANAGEMENT COMPANY
32. An organization that
handles all the tasks related to
exporting for a manufacturer.
FREIGHT FORWARDER
33. A company that arranges
shipments and prepares
necessary exporting paperwork