1. glossary
Specialized assets : asset intended to perform a special role ,
Tariff : tax levied on imports.
Tariff ad valorem tariff levied as a proportion of the value of an imported good .
Specific tariff : set fee as fixed charge for each unit of a good imported .
Countervailing duties : duties to offset dumping .
Arbitration: purchase of financial instruments in a market for immediate resale in another and get
a profit from the price difference .
Free trade area : a group of countries committed to eliminating all barriers to free movement of
goods and services between them, but still independent foreign trade policies .
World Bank : international institution established to promote overall economic development in
the world's poorest nations .
Barriers to entry: factors that hinder or increase the cost of entry into a market or industry .
Foreign bond : bond sold outside the country of the borrower and denominated in the currency of
the country in which it is issued.
Code of ethics : formal declaration of ethical priorities of a company or organization.
Trade target: trade that deviates by regional economic integration .
International trade activity: in which a company exports goods or services to consumers in
another country.
Compensation: According to buying goods and services given country a certain percentage of
revenue by original sale there.
Communists : people who think that socialism can only be reached through a revolution and
totalitarian dictatorship .
Contract document that specifies the terms of trade and details the rights and obligations of the
parties .

2. Currency Conversion : conversion of financial statements of foreign subsidiaries into the currency
of the country.
Dumping : act of selling goods in a foreign market at less than their cost of production or below
their "fair value " market .
Export sales of goods produced in one country to residents of another .
Incentives: means to reward administrative activities.
Foreign direct investment (FDI ) : direct investment in business operations in another country.
Mercantilism : economic philosophy which states that countries should simultaneously encourage
exports and discourage imports .
MERCOSUR agreement between Argentina , Brazil, Paraguay and Uruguay to establish a free trade
area
Norms: social rules and guidelines that prescribe appropriate behavior in particular situations.
Patent : granted to the inventor of a new product or process exclusive rights to manufacture, use
or sale of the invention.