Glossary
- Absolute advantage principle
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A country benefits by producing only those products in which it has an absolute advantage or that it can produce using fewer resources than another country.
- Acculturation
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The process of adjusting and adapting to a culture other than one’s own.
- Acquisition
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Direct investment to purchase an existing company or facility.
- Adaptation
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Firm’s efforts to modify one or more elements of its international marketing program to accommodate specific customer requirements in a particular market.
- Advanced economies
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Post-industrial countries characterized by high per-capita income, highly competitive industries, and well-developed commercial infrastructure.
- Agent
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An intermediary (often an individual or a small firm) that handles ...
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