- Industry: Education
- Number of terms: 31274
- Number of blossaries: 0
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A country or region's power and ability to rule itself and manage its own affairs. Some feel that memberships in international organizations such as the WTO are a threat to their sovereignty.
Industry:Economy
1. Producing more than you need of some things, and less of others, hence "specializing" in the first. In international trade, this is just the opposite of self-sufficiency. 2. Doing less than everything, as when a country produces fewer different goods than it consumes. In a 2x2 trade model, this means a country produces just one good. With many goods and countries, it means a country has some goods that it does not (and cannot competitively) produce. Also may be called complete specialization.
Industry:Economy
A currency that is responsibly managed so as to avoid excessive inflation.
Industry:Economy
A framework proposed by the IMF for permitting countries facing financial crises to restructure their debts in an orderly manner and minimally disruptive manner, analogous to bankruptcy for a private debtor.
Industry:Economy
1. Same as multinational corporation, though for some reason this term seems to be preferred by those who don't like them. 2. A corporation whose national identity is a matter of convenience only, and that will move its headquarters readily in response to incentives.
Industry:Economy
1. A pattern of trade involving three countries, A, B, and C, in which A exports to B, B exports to C, and C exports to A. Provides a nice example of how bilateral trade can be unbalanced even while each country's overall trade balance is zero. 2. Term used specifically for the slave trade, in which ships often traversed one of several triangular routes. For example they might take slaves from Africa to the West Indies, sugar from the West Indies to New England, and rum from New England to Africa.
Industry:Economy
1. Any choice among three options, each which is unsatisfactory. 2. Three desirable objectives, any two of which preclude the third.
Industry:Economy
An arrangement in which the stock of several companies is controlled by a single entity. When the companies compete in the same industry and together constitute a significant share of that market, the trust can exercise monopoly power. Such arrangements are illegal in most industrialized countries, subject to competition policies or anti-trust policy.
Industry:Economy
Actually a pair of cases, resulting from the U. S. Ban on imports of tuna, under the Marine Mammal Protection Act, from countries that did not effectively prohibit tuna fishers from killing dolphins by catching them together with whole schools of tuna in large ("purse seine") nets. Cases filed under GATT in 1991 and 1994 led to panel decisions against the U. S.
Industry:Economy
