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World Wide Business
Term | Definition |
---|---|
Balance of Trade | the difference between exports and imports |
Embargo | the prohibition of shipment of goods or services to designated countries |
European Union (EU) | free trade among European nations, all using the eruo |
Globalization | when a business sells the same product to other countries without any customization |
International Trade | the exchange of goods and services among nations |
North American Free Trade Agreement (NAFTA) | trade agreement between Canada, the United States, and Mexico |
Tariff | a published set of rates for transportation and distribution services |
World Trade Organization (WTO) | a global group of nations that make the rules governing international trade |