Trade agreementA trade agreement (also known as trade pact) is a wide-ranging taxes, tariff and trade treaty that often includes investment guarantees. It exists when two or more countries agree on terms that help them trade with each other. The most common trade agreements are of the preferential and free trade types, which are concluded in order to reduce (or eliminate) tariffs, quotas and other trade restrictions on items traded between the signatories.
Tacit knowledgeTacit knowledge or implicit knowledge—as opposed to formal, codified or explicit knowledge—is knowledge that is difficult to express or extract; therefore it is more difficult to transfer to others by means of writing it down or verbalizing it. This can include motor skills, personal wisdom, experience, insight, and intuition. For example, knowing that London is in the United Kingdom is a piece of explicit knowledge; it can be written down, transmitted, and understood by a recipient.
Opportunity costIn microeconomic theory, the opportunity cost of a choice is the value of the best alternative forgone where, given limited resources, a choice needs to be made between several mutually exclusive alternatives. Assuming the best choice is made, it is the "cost" incurred by not enjoying the benefit that would have been had by taking the second best available choice. The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen.
Trade routeA trade route is a logistical network identified as a series of pathways and stoppages used for the commercial transport of cargo. The term can also be used to refer to trade over bodies of water. Allowing goods to reach distant markets, a single trade route contains long-distance arteries, which may further be connected to smaller networks of commercial and noncommercial transportation routes. Among notable trade routes was the Amber Road, which served as a dependable network for long-distance trade.
Knowledge by acquaintanceIn philosophy, a distinction is often made between two different kinds of knowledge: knowledge by acquaintance and knowledge by description. Whereas knowledge by description is something like ordinary propositional knowledge (e.g. "I know that snow is white"), knowledge by acquaintance is familiarity with a person, place, or thing, typically obtained through perceptual experience (e.g. "I know Sam", "I know the city of Bogotá", or "I know Russell's Problems of Philosophy").
ProvenceProvence (prəˈvɒ̃s, USalsoprəʊˈ-, UKalsoprɒˈ-, pʁɔvɑ̃s) is a geographical region and historical province of southeastern France, which extends from the left bank of the lower Rhône to the west to the Italian border to the east; it is bordered by the Mediterranean Sea to the south. It largely corresponds with the modern administrative region of Provence-Alpes-Côte d'Azur and includes the departments of Var, Bouches-du-Rhône, Alpes-de-Haute-Provence, as well as parts of Alpes-Maritimes and Vaucluse.
Fair tradeFair trade is a term for an arrangement designed to help producers in developing countries achieve sustainable and equitable trade relationships. The fair trade movement combines the payment of higher prices to exporters with improved social and environmental standards. The movement focuses in particular on commodities, or products that are typically exported from developing countries to developed countries but is also used in domestic markets (e.g.
Machine learningMachine learning (ML) is an umbrella term for solving problems for which development of algorithms by human programmers would be cost-prohibitive, and instead the problems are solved by helping machines 'discover' their 'own' algorithms, without needing to be explicitly told what to do by any human-developed algorithms. Recently, generative artificial neural networks have been able to surpass results of many previous approaches.
Knowledge sharingKnowledge sharing is an activity through which knowledge (namely, information, skills, or expertise) is exchanged among people, friends, peers, families, communities (for example, Wikipedia), or within or between organizations. It bridges the individual and organizational knowledge, improving the absorptive and innovation capacity and thus leading to sustained competitive advantage of companies as well as individuals. Knowledge sharing is part of the knowledge management process.
Design-based learningDesign-based learning (DBL), also known as design-based instruction, is an inquiry-based form of learning, or pedagogy, that is based on integration of design thinking and the design process into the classroom at the K-12 and post-secondary levels. Design-based learning environments can be found across many disciplines, including those traditionally associated with design (e.g. art, architecture, engineering, interior design, graphic design), as well as others not normally considered to be design-related (science, technology, business, humanities).
