is the exchange of goods, services, and financial payments between countries. Learn about the origins, benefits, and challenges of international

is defined as the difference between the value of a country's exports and imports over a given period.

bring (goods or services) into a country from abroad for sale:

send (goods or services) to another country for sale:

is an economic concept that refers to the tagability of a party, such as a country or firm, to produce a good or service more efficiently than another party.

comparative advantage

defined as the ability of one country or company to produce a particular product or service at a lower opportunity cost than its trading partners or competitors.

including or involving several countries or individuals of several nationalities:

micro-multinational refers to a small business that operates internationally, often with fewer than 10 employees.

s refer to issues or disputes that arise in international trade, often involving concerns about compliance with trade agreements, regulatory obstacles, or unfair trading practices. These concerns can include:

a tax or duty to be paid on a particular class of imports or exports:

a fixed share of something that a person or group is entitled to receive or is bound to contribute:

an official ban on trade or other commercial activity with a particular country:

is a business arrangement where two or more parties pool resources to create a new entity or partnership for a specific project, sharing profits, losses, and responsibilities.

a licensed individual or firm that acts as an intermediary for importers and exporters, facilitating the movement of goods across international borders.

A letter of credit is a financial instrument issued by a bank that guarantees a buyer’s payment to a seller, provided that specific conditions outlined in the letter are met.

a preliminary version of a piece of writing:

transfer (a major branch of industry or commerce) from private to state ownership or control:

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vocab 7

Question	Answer
international trade	is the exchange of goods, services, and financial payments between countries. Learn about the origins, benefits, and challenges of international
balance of trade	is defined as the difference between the value of a country's exports and imports over a given period.
imports	bring (goods or services) into a country from abroad for sale:
exports	send (goods or services) to another country for sale:
absolute advantage	is an economic concept that refers to the tagability of a party, such as a country or firm, to produce a good or service more efficiently than another party.
comparative advantage	defined as the ability of one country or company to produce a particular product or service at a lower opportunity cost than its trading partners or competitors.
multination's	including or involving several countries or individuals of several nationalities:
mini-national	micro-multinational refers to a small business that operates internationally, often with fewer than 10 employees.
trade concerns	s refer to issues or disputes that arise in international trade, often involving concerns about compliance with trade agreements, regulatory obstacles, or unfair trading practices. These concerns can include:
tariff	a tax or duty to be paid on a particular class of imports or exports:
quota	a fixed share of something that a person or group is entitled to receive or is bound to contribute:
embargo	an official ban on trade or other commercial activity with a particular country:
joint ventures	is a business arrangement where two or more parties pool resources to create a new entity or partnership for a specific project, sharing profits, losses, and responsibilities.
custom brokers	a licensed individual or firm that acts as an intermediary for importers and exporters, facilitating the movement of goods across international borders.
letter of credit	A letter of credit is a financial instrument issued by a bank that guarantees a buyer’s payment to a seller, provided that specific conditions outlined in the letter are met.
draft	a preliminary version of a piece of writing:
time draft	a preliminary version of a piece of writing:
nationaize	transfer (a major branch of industry or commerce) from private to state ownership or control:

Created by: tstern29

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