Intro to Business Ch 10 Business in a Global Economy

Front

Products made in one country and sold in another.

Back

Exports

Front

Products one country buys from another country.

Back

Imports

Front

A fixed limit, set by the government, on the import of a product.

Back

Quota

Front

A complete ban on a product or all the products from another country.

Back

Embargo

Front

The price at which one currency can buy another currency.

Back

Exchange Rate

Front

The difference in value between how much a country imports and how much it exports.

Back

Balance of Trade

Front

A view that there should be limits on foreign trade in order to protect business at home.

Back

Protectionism

Front

A view that all countries should be free to compete anywhere in the world without restrictions.

Back

Free Trade

Front

A special tax on goods made in one country and sold in the United States.

Back

Tariff

Front

A company that does business in many countries and has facilities and offices in many countries.

Back

Multinational Corporation