Pages

Wednesday, January 26, 2011

IB Glossary

Expatriate manager
A national of one country appointed to a management position in another country.
Exporting
Sale of products produced in one country to residents of another country.
Fixed exchange rates
A system under which the exchange rate for converting one currency into another is fixed.
Floating exchange rates
A system under which the exchange rate for converting one currency into another is continuously adjusted depending on the laws of supply and demand.
Free trade
The absence of barriers to the free flow of goods and services between countries.