| A | B |
|---|
| Imports | Items bought from other countries |
| Domestic business | making buying and selling of goods and services |
| World trade | International Busines |
| Absolute advantage | When a country can produce a good or service at a lower cost that other countries |
| Exports | Goods and services sold to other countries |
| Balance or trade | The difference between a countries total exports and total imports |
| Trade deficit | If a country imports more than it exports |
| Balance of payments | The difference between the amount of money that comes into a country and the amount that goes out |
| Foreign exchange market | Consits of banks that buy and sell different currencies |
| Exchange rate | The value of a currency in one country compared with the value in another |
| Infrastructure | Refers to a nation's transportation, communication, and utility system |
| Trade barriers | Restrictions to free trade |
| Quota | Government sets a limit ont he quantity of a product that may be imported or exported within a given period |
| Tarrif | A governtment tax on imported items |
| Embargo | Stopping the imported and exporting of a product to or from a country |
| Multinational Company (MNC) | Anb organization that does business in serveral countries |
| Joint venture | An agreement between two or more companies to share a business |
| Franchise | The right to use a company name or busines process in a specific way |
| Interest rates | The cost of using someone else's money |
| Foreign debt | The amount a country owes to other countries |
