| A | B |
|---|
| balance of payments | The total flow of money coming into a country minus the total flow going out. |
| bill of lading | A document that states the agreement between the exporter and the transportation company. |
| certificate of origin | A document that states the name of the country in which the shipped goods were produced. |
| cost and freight (C&F) | The price includes the cost of the goods and freight, but the buyer must pay for insurance separately. |
| cost, insurance, and freight (CIF) | The cost fo the goods, insurance, and freight are included in the price quoted. |
| countertrade | The exchange of products or services betweeen companies in different countries with the possibility of some currency exchange. |
| customs official | Government employee who is authorized to collect the duties levied on imports. |
| direct barter | The exchange of the goods and services between two parties with no money involved. |
| economic community | An organization of countries that bond together to allow a free flow of products. |
| free on board (FOB) | Terms of sale that mean the selling price of the product includes the cost of loading the exported goods onto transport vessels at the specified place. |
| freight forwarder | A company that arranges to ship goods to customers. |
| industry | A group of companies in the same type of business. |
| monopolistic competition | A market situation with many sellers, each with a slightly different product. |
| monopoly | A situation in which one seller controls the entire market for a product or service. |
| oligopoly | Control of an industry by a few large companies. |
| pure competition | A market situation with many sellers, each offering the same product. |
| trade deficit | The result of a country importing more goods and services that the country is exporting. |
