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Chapter 10 Terms

AB
exportsGoods and services sold to another country
quotaA limit on the quantity of a product that may be imported and exported within a given period of time
multinational company or corporationAn organization that conducts business in several countries
exchange rateThe value of money of one country expressed in terms of the money of another country.
importsGoods and services bought from another country
embargoStopping the importing or exporting of a certain product or service.
balance of tradeThe difference between a country's total exports and total imports of goods.
tariffA tax that a government places on certain imported products.
blanace of paymentsThe difference between a country's total payments to other countries and its total receipts from other countries.
international businessThe business activities necessary for creating, shipping, and selling goods and services across national borders.

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