| A | B |
|---|
| sweatshops | substandard factories |
| multinational corporations | businesses that have operations in several nations |
| quotas | a limited amount of imports are allowed to enter the country |
| NAFTA | a trade agreement tha will limit trade barriers in North America |
| GATT | an international trade organization that sets standards |
| infrastructure | roads, electricity and other basic facilities |
| World Trade Organization | settles disputes between trade partners |
| Mercosur | a South American trade organization |
| European Union | a European trade organization |
| tariff | a tax on imports |
| globalization | worldwide trade |
| gross domestic product | the total sum of goods and service producted in a year |
| Third World | nations that are trying to develop their economies |
| developed nations | nations whose economies are technologically advanced |
| market system | an economic system in which consumers play a major role |
| command system | an economic system in which government makes decisions |
| imports | goods brought into a country |
| exports | goods sold outside the country |
| trade barriers | policies that discourage trade |
| socialism | an economic system in which the voters help government decision making |
