| A | B |
|---|
| global economy | a worldwide marketplace in which nations depend on each other for raw materials to make goods and for markets to sell them |
| multinational corporation | companies with business locations all over the world |
| subcontractor | smaller businesses that work for larger ones |
| outsourcing | the process of using outside workers by a company |
| high tech | companies that use sophisticated technology (advanced) |
| favorable balance of trade | where exports equal or outnumber imports |
| European Union (EU) | member nations in Europe that use a common bank and currency |
| Euro | money used by member nations of the EU |
| North American Free Trade Agreement (NAFTA) | the removal of trade restrictions for 15 yeards between Canada, Mexico, and the US |
| trade deficit | when imports are greater than exports for a nation |
