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Chapter 3 vocabulary

QuestionAnswer
Imports items brought from other countries.
Exports goods and services sold to other countries.
Balance of trade Diff. between a country's total exports and total imports.
Balance of payments Diff. between the amount of money that comes into a country and the amount that goes out of it.
Exchange rate Value of the currency in one country compared with the value of another.
Infrastructure Factor that supports international trade in industrialized countries.
Trade barriers restrictions to free trade.
Quota Govt. set limit on the quantity of a product that may be imported or exported within a given period.
Tariff Tax that a govt. places on certain imported products.
Embargo Action imposed by the govt.
Multinational company Organization that does business in several countries.
Joint venture Unique business organized by two or more other businesses to operate for a limited time and a specific project.
Created by: 1618569
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