BNAD 449 International Business Environments: GLOSSARY FOR BNAD 449
Gross domestic product (GDP) – the official measure of the nation’s production of output. Includes the value of goods and services produced within the geographic boundaries of a country.
Gross national product (GNP) – the nominal value of all goods and services produced by the residents of an economy in a given year, regardless of their location.
Purchasing Power Parity (PPP) – a theory of exchange rate determination and a way to compare relative purchasing power of different countries’ currencies over the same types of goods and services.
Export – a good or service which is produced in one country and sold to and consumed in another.
Import – a good or service consumed in one country which has been
bought from another country.
Standard Industrial Classification (SIC) – system for classifying establishments by primary type of activity. The SIC is used to promote the comparability of establishment data describing various facets of the U.S. economy. The classification covers the entire field of economic activities and defines industries in accordance with the composition and structure of the economy.
| 37 | Transportation Equipment | Major Group |
| 371 | Motor Vehicles and Motor Vehicle Equipment | Industry Group |
| 3711 | Motor Vehicles and Passenger Car Bodies | Industry # |
| (e.g., Automobiles, Snowplows, Taxicabs) | Products |
North American Industry Classification System (NAICS) – NAICS became effective in 1997, and replaces the 1987 SIC, although the business sources are still using SIC codes. It is an industry classification system that groups establishments into industries based on the activities in which they are primarily engaged. It provides a common classification system for Canada, Mexico, and the United States.
| 336111 - Automobile Manufacturing |
| 33 | 6 | 1 | 1 | 1 |
| Sector | Subsector | Industry Group | NAICS Industry | National Industry |
Standard International Trade Classification (SITC), Revision 3 – a statistical classification of commodities in world trade, developed by the United Nations to facilitate international comparison of commodity trade data.
| 7 | Machinery and Transport Equipment |
| 78 | Road Vehicles |
| 781 | Motor cars and other motor vehicles principally designed for the transport of persons |
Harmonized Tariff Schedule (HTS) - The USITC (United States International Trade Commission) Office of Tariff Affairs and Trade Agreements is responsible for publishing the Harmonized Tariff Schedule of the United States (HTS); the U.S. Customs Service is responsible for administering the tariff and for processing import entries. The HTS provides the applicable tariff rates and statistical categories for all merchandise imported into the United States; it is based on the international Harmonized System, the global classification system that is used to describe most world trade in goods.
| Section XVII | Vehicles, Aircraft, Vessels and Associated Transport Equipment |
| Chapter 87 | Vehicles other than railway or tramway rolling stock, and parts and accessories thereof |
| 8703 | Motor cars and other motor vehicles principally designed for the transport of persons |
Public vs. private companies:
A private company (or privately held company) is a company that does not have publicly traded stock. In the United States, privately held companies are normally not obligated to disclose their financial statements publicly.
A public company (or publicly held company) is a corporation whose common shares are traded on a public exchange, with shares that are owned by the general public. Publicly held companies are subject to reporting requirements from regulatory agencies such as the Securities and Exchange Commission (SEC). They must reveal detailed information about their business, finances, and operations.
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Last updated August 21, 2008.