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Chapte 3

business basic

QuestionAnswer
what are imports Are items bought from other countries
What is exports Exports are goods and services sold to other countries
What is the balance of trade it is the difference between a country's total exports and total imports
what is the balance of payments it is the difference between the amount of money that comes into a country and the amount that goes our of it
What is the exchange rate The exchange rate is the balue of a currency in one country compared with the value in another
What is infrastructure Refers to a nations transportation, communication, and utility systems
What is a quota The limit on the quantity of a product that may be imported or exported
What is a tariff A tax that a government places on certain imported products
What is embargo Wher the government stops the export or import of a product completely
what is a multinational company It is an organization that does business in several countries
Created by: butch6244
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