International Trade

WHAT IS INTERNATIONAL TRADE?

• The exchange of Ideas

• The exchange of capital, goods and services

• The exchange of national debt

• The exchange of money and ideas

WHAT IS GLOBALIZATION?

• World Wide Trade among all populations and business

• International trade that includes all nations of the world

• Connection of the world's economies, populations, and populations

• Internet connections created for international trade

• World Trade Organization

are those goods, raw materials, and services that are produced in one country and then sold to another country.

• Imports

• Exports

• Supply

• Trade

When did international trade begin to increase?

• after WWI

• after the Civil War

• after WWII

• before WWII

when a country looks at the opportunity cost to produce an item and chooses to produce those things they can make better than other nations.

• comparative advantage

• absolute advantage

• trade advantage

are those goods, raw materials, and services a country decides to buy from another country.

• surplus goods

• exports

• services

• imports

A trade agreement between Canada, Mexico, and the US

• NAFTA
• EU
• WTO
• ABC

All of the following are terms used to describe limitations on trade except?

• Trade Barriers

• Sanctions

• Trade restrictions

• EU

This trade barrier limits the number of products that can be brought into a country.

• Tariff
• Quota
• Embargo
• Subsidy

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

• tariff
• quota
• subsidy
• embargo