| A | B |
|---|
| borders | Today it is difficult to define economies in terms of national ___________ |
| comparative | THIS advantage compares one country’s ability to produce different goods or services to other countries’ ability to produce the same goods or services |
| MORE | Without foreign trade, all of the items you buy would cost THIS |
| trade position. | A nation with a trade surplus is said to have a favorable one of THESE |
| trade deficit | It is possible for a country to have a trade surplus with one country and THIS with another. |
| money | Some countries limit the amount of THIS their citizens can take out of the country when they travel. |
| different | In international trade, most nations of the world have _________ currency. |
| joint venture | an agreement between two or more companies to share a business project |
| domestic business | The making, buying, and selling of goods and services within a country is called |
| 180 | The United States conducts trade with more than THIS many countries |
| exports | Goods and services sold to other countries |
| balance of payments | difference between the amount of money that comes into a country and the amount that goes out |
| balance of trade | difference between a country’s total exports and total imports |
| products and currency | increased demand for a nations' THESE would likely cause the value of a country’s currency to rise |
| cultural/social | language, religion, & values are all factors of THIS |
| infrastructure | transportation systems, communication systems, & utilities are all a part of THIS |
| tariff | tax that a government places on certain imported products |
| quota | A limit that a government places on the quantity of a product that may be exported or imported during a given period |
| free-trade zone | A selected area where products can be imported duty-free and then stored, assembled, or used in manufacturing. |
| Common market | THESE have a common external duty on products being imported from nonmember countries. |
| licensing | Selling the right to use some intangible property for a fee or royalty |
| World Bank | international trade organization was created in 1944 to provide loans for rebuilding after World War II |
| foreign trade | International business is frequently referred to as |
| interest rate | the cost of using someone else’s money. |
| foreign debt | the amount a country owes to other countries. |
| trade barier | a restriction to free trade. |
| culture | The accepted behaviors, customs, and values of a society |
| multinational company | company is an organization that does business in several countries. |
| embargo | When a government completely stops the import or export of a product |
| franchising | the right to use a company name or business process in a specific way. |
