globalization

Sending goods to another country to sell.

• import

• export

Bringing goods in from another country to sell.

• import

• export

The development of a worldwide economy where resources flow fairly freely across borders.

• Globalization

• Economy

• GDP

• Economic Independence

Mc Donald's  is an example of a multinational corporation.

• true
• false

The benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost than other entities is referred to as

• Opportunity Cost
• Absolute Advantage
• Comparative Advantage
• Growth

The nation's ability to produce general goods more efficiently than another entity is referred to as?

• Specialization
• Comparative Advantage
• Opportunity Cost
• Absolute Advantage

A trade agreement between Canada, Mexico, and the US

• NAFTA
• EU
• WTO
• ABC

This is a tax on imports that is used to increase price of foreign products and raise government revenue. 

• tariff
• quota
• subsidy
• embargo

This is the most restrictive of the trade restrictions a nation can use to close off all importation of a product.

• tariff
• quota
• subsidy
• embargo

Not trading with nations who create products using child labor is used in the argument for

• Domestic Jobs
• National Defense 
• Human Rights
• Environment