| A | B |
|---|
| Imports | goods and service one country buys from another country. |
| Exports | goods and services one country sells to another country. |
| Protectionism | limiting trade with other countries to protect business at home. |
| 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. |
| Embargo | a ban on the import or export of a product. |
| 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. |
| Exchange rate | the price at which the currency of one country can buy the currency of another country. |
| Balance of trade | the difference in value between how much a country imports and how much it exports. |
| Trade Surplus | more exports than imports. |
| Trade Deficit | more imports than exports. |
