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Business in the Global Economy, S18

Chapter 3

AB
ImportsItems bought from other countries
ExportsGoods and services sold to other countries.
Balance of paymentsThe difference between the amount of money that comes into a country and the amount that goes out of it.
Exchange rateThe value of a currency in one country compared with the value in another.
InfrastructureRefers to a nation's transportation, communication, and utility systems.
Trade barriersRestrictions to free trade.
QuotaTo regulate international trade, governments set a limit on the quantity of a product that may be imported/exported.
TariffA tax that a government places on certain imported products.
EmbargoTo stop the export or import of a product completely.
Multinational companyAn organization that does business in several countries.
Joint ventureAn agreement between two or more companies to share a business project.


Business Education Instructor
Grassfield High School
Chesapeake, VA

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