| A | B |
|---|
| global economy | The interconnected economies of the nations of the world. |
| international trade | The exchange of goods and services between nations. |
| multinational corporation | A company that does business in many countries and has facilities and offices around the world. |
| trade | The activity of buying and selling goods and services in domestic or international markets. |
| imports | Goods and services that one country buys from another country. |
| exports | Goods and services that one country sells to another country. |
| balance of trade | The difference in value between a country's imports and exports over a period of time. |
| comparative advantage | The ability of a country to produce a particular good more efficiently than another country or company. |
| exchange rate | The price at which one currency can buy another currency. |
