Question | Answer |
Interconnected economies of the nations of the world. | 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. | Multiinational corportation |
Activity of buying and selling goods and services in domestic or international markets. | Trade |
Goods and services that one country buys from another country. | Imports |
Goods and services that one country sells to another country. | Exports |
The difference in value between a country's imports and exports over a period of time. | Balance of Trade |
The ability of a country or company to produce a particular good more efficiently than another country or company. | Comparative advantage |
The price at which one currency can buy another currency. | Echange Rate |
The practice of the government putting limits on foreign trade to protect businesses at home. | Protectionism |
A tax placed on imports to increase their price in the domestic market. | Tariff |
Limit placed on the quantities of a product that can be imported. | Quota |
Ban on the import or export of a product. | Embargo |
When there are few or no limits on trade between countries. | Free Trade |
Applying to, characterized by, or distinguishing something particular, special, or unique. | Specific |
One who engages in a pursuit or activity professionally. | Professionals |
To give support or relief to. | Sustains |
A means of carrying or transporting something. | Vehicles |
A disagreement. | Disputes |
To confine within bounds. | Restrict |
To act or work with another or others. | Cooperate |
A discussion marked especially by the expression of opposing views. | Controversy |
TO focus on a particular activity, area, or product. | Specialize |
Made up of banks where different currencies are exchanged. | Foreign Exchange Market |
Limit competition from other countries. | Trade Barriers |
Reduce limits on trade. | Trade Alliances |
Production, purchase, and sale of goods and services within a country. | Domestic Trade |
Exchange of goods and services across international boundaries. | World Trade |