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MGT 423 ch. 1-4 test
5 cards·by lulu_tangles_03
Globalization
Trend away from distinct national economic units and toward one huge global market.
Globalization of Markets
refers to the merging of historically distinct and separate national markets into one huge
global marketplace.
Globalization of production
sourcing of goods and services from locations around the globe to take advantage of national
differences in the cost and quality of FOP.
General Agreement on Tariffs and Trade (GATT)
international treaty that committed signatories to lowering barriers to the free flow of
goods across national borders and led to the WTO.
World Trade Organization (WTO)
organization that succeeded the General Agreement on Tariffs and Trade (GATT) as a result of
the successful completion of the Uruguay Round