| A | B |
|---|
| protectionism | limiting trade with other countries to protect business at home |
| embargo | A ban on the import or export of a product |
| tariff | A tax placed on imported products to make them more expensive than domestic products |
| quota | A limit placed on the quantities of a product that can be imported |
| free trade | Few or no limits on trade between countries |
| multinational corporation | A company that does business and has facilities in many countries around the world |
| exports | Goods and services one country sells to another country |
| exchange rate | The price at which the currency of one country can buy the currency of another country |
| imports | Goods and services one country buys from another country |
| balance of trade | The difference in value between how much a country imports and how much it exports |
| corporation | A business that is owned by stockholders and operated under permission from the state is a |
| mission statement | A short, specific written statement of the reason a business exists and what it wants to achieve |
| policy | A guideline used in making consistent decisions |
| goal | A precise statement of results the business expects to achieve |
| procedure | A description of the way work is to be done |
| line authority | An organizational structure in which managers at the top of the line are in charge of those beneath them |
| revenue | All income that a business receives over a period of time |
| assets | What a company owns; anything of value owned by a business |
| liabilities | what a company owes |
| expenses | costs of operating a business |
| code of ethics | A strict set of guideline in a profession or company for upholding ethical behavior in the workplace |
