International Trade

Trade within the same region or country

• World Trade

• World Trade Organization

• Domestic Trade

• Export

Trade between different regions or countries

• World Trade

• World Trade Organization

• Domestic Trade

• Export

International organization overseeing world trade; ensures world trade occurs in a smooth and free-flowing manner with little disruption

• World Trade

• World Trade Organization

• Domestic Trade

• Export

Goods produced in one country, then shipped out to another region or country

• World Trade

• Imports

• Domestic Trade

• Export

To focus on producing one thing to improve productivity is known as:

• Specialization
• International trade
• Absolute Advantage
• Supply and Demand

A trade agreement between Canada, Mexico, and the US

• NAFTA
• EU
• WTO
• ABC

Which of the following is not a benefit of trade between nations?

• More stuff
• Better stuff
• cheaper stuff
• similar stuff

Watches made in Norway are worn by people in California.

• import 
• export