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FOREIGN: All economic activity that is "outside" the confines of a domestic economy. For the United States, this would be consumers, workers, businesses, and governments that lie beyond the U.S. national boundaries.
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GLOBALIZATION: The generalized expansion of international economic activity which includes increased international trade, growth of international investment (foreign investment) and international migration, and increased proliferation of technology among countries. Globalization is the increasing world-wide integration of markets for goods, services, labor, and capital. It is an ongoing process that started several centuries ago. However, most people would agree that today we are in a period of rapid globalization as international economic activity has accelerated in the last 200 years or so. See also | international trade | international economics | free trade | foreign investment | technology | migration |
Recommended Citation:GLOBALIZATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: March 15, 2025].
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PRICE TAKER A buyer or seller that has no market control and is not able to affect the price of a good. It must "take" or accept the going market price. The market structure that exemplifies price taker is perfect competition. In fact, perfect competition is the only example of price taker. This is one of two alternatives related to control over price. The other is price maker. Price taker is also termed price seeker.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"I don't subscribe to the thesis, 'Let the buyer beware,' I prefer the disregarded one that goes, 'Let the seller be honest.'" -- Isaac Asimov, Author
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VIR
Variable Interest Rate
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