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Global Marketplace

BTC 10.1

QuestionAnswer
The interconnected economies of the nations of the world. The Global Economy
The exchange of goods and services between nations. International Trade
A company that does business in many countries and has facilities and offices around the world. Multinational Corporation
The activity of buying and selling goods and services in domestic or international markets. Trade
Goods and services one country buys from another country. Imports
Goods and services one country sells to another country. Exports
The difference in value between a countries imports and exports over a period of time. Balance of Trade
The ability of a country to produce a particular good more efficiently than another country. Comparative Advantage
The price at which one currency can buy another currency. Exchange Rate
The practice of a government putting limits on foreign trade to procect burinesses at home. Protectionism
A tax put on imports to increase their price in the domestic market. Tariff
A limit placed on the quantities of a product that can be imported. Quota
A ban on the import or export of a product. Embargo
Occurs when there are few or no trade limits between countries. Free Trade
Clearly defined or identified. Specific
A person engaged or qualified in a profession. Professionals
Strengthen or support physically or mentally. Sustains
A thing used for transporting people or goods, esp. on land, such as a car, truck, or cart. Vehicles
A disagreement, argument, or debate. Disputes
Put a limit on; control. Restrict
Act jointly; work toward the same end. Cooperate
Disagreement, typically when prolonged, public, and heated. Controversy
The production, purchase, and sale of goods and services within a country. Domestic Trade
The exchange of goods and services across international boundries. World Trade
To focus on a particular activity, area, or product. Specialize
Made of banks where different currencies are exchanged. Foreign Exchange Market
To limit competition with other countries. Trade Barriers
When several countries merge their economies into one market. Trade Alliances
Created by: zachary_franz