Unit 3: Globalization

Front

the process in which countries are increasingly linked to each other through culture and trade

Back

globalization

Front

Companies that operate in multiple different countries

Back

multinational corporations

Front

the removal of trade barriers between nations

Back

free trade

Front

any law that limits free trade between nations

Back

trade barrier

Front

a tax that must be paid on imported items

Back

tariff

Front

goods brought in from other regions/countries

Back

imports

Front

a restriction or ban on trade with a country for political purposes

Back

embargo

Front

a limit on the amount of product imported or a limit on the amount of product imported at a lower tariff

Back

quota

Front

when a nation SELLS more than it buys

Back

trade surplus

Front

a relationship between countries in which they rely on one another for resources, goods, or services

Back

interdependence