General Average

 

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General Average

Provision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.



General Average

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General Membership

General Membership

A partnership made up of general partners, without special (limited) partners.


Generalized System of Preferences

Generalized System of Preferences

Tariff preferences for developing countries, by which developed countries let certain manufactured and semi-manufactured imports from developing countries enter at lower tariffs than the same products from developed countries.


General equilibrium

General equilibrium

Equality of supply and demand in all markets of an economy simultaneously. The number of markets does not have to be large. The simplest Ricardian model has markets only for two goods and one factor, labor, but this is a general equilibrium model. Contrasts with partial equilibrium.


General Agreement on Trade in Services

General Agreement on Trade in Services

The agreement, negotiated in the Uruguay Round that brings international trade in services into the WTO. It provides for countries to provide national treatment to foreign service providers and for them to select and negotiate the service sectors to be covered under GATS.


Director General

Director General

Title given to the person who heads certain international organizations, including the WTO.


Further Suggestions

General cash offer
general lien
general personal equity plan
General partnership
Computable general equilibrium
general obligation bond
General Average Contribution
General ledger
General Order
General Agreement on Tariffs and Trade (GATT)
General Agreement on Tariffs and Trade
General partner
General lien
General Mortgage Bond
Generally Accepted Accounting Principles (GAAP)
annual general meeting
General Lien
extraordinary general meeting
General Agreement on Tariffs and Trade
General revenue


 
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