| A | B |
|---|
| Exports | Goods and services sold to another country. |
| Quota | A limit on the quantity of a product that may be imported and exported within a given period. |
| trade barriers | Government restrictions to reduce free trade. |
| Multinational Company (MNC) | An organization that conducts business in several countries |
| Exchange Rate | The value of money of one country expressed in terms of the money of another country. |
| Imports | Goods and services bought from another country. |
| Corporation | A separate legal entity, formed by documents filed with the state, which is owned by one or more shareholders and managed by a board of directors. |
| franchise | A written contract granting permission to operate a business to sell products and services in a prescribed way. |
| Service business | A business that completes activities that are consumed by customers rather than offers products for sale. |
| Proprietorship | A business owned and controlled by just one person. |
| partnership agreement | written agreement among all owners that specifies the rule and procedures that guide ownership and operations. |
