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Unit 1.03
Question | Answer |
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Foreign debt | The amount of money one owes another country |
Balance of Trade | Diffrence between a counties total imports and exports |
Balance of Payments | Difference between the amount of money that comes into a country and the amount that leaves the country |
Foreign Exchange Market | Banks buy and sell different currencies |
Exchange Rate | Comparing the value of currency between different countries |
Embargoes | When a government bands the imports, exports, and services of certain countries |
Quotas | A limit on the quantity of goods that can be imported or exported |
Tariffs | Taxes on certain imported items that increase prices |
Common markets | Countries that are members freely invest in one another |
Free-Trade Agreements | When countries that are members remove duties and trade barriers on products traded among them to increase trade between members |
Free-Trade Zones | Selected areas that allow duty free products to be imported and then stored, assembled and or used to manufacture |
Franchising | Allowing businesses the right to use another companies name or process in a specific way |
Licensing | Selling the rights to a company to use some intangible propriety, for a fee or loyalty. |
Joint Venture | Two or more companies agree to share a business project. |
International Monetary Fund | Helps promote economic corporation and maintain an orderly system of world trade and exchange rates |
World Bank | Provides economic aid to developing countries to fund building communication systems, transportation networks, and energy points |
World Trade Orginization | Settles trade disputes and enforces free trade agreements among its members |