BMF Chapter 1 Business

When something is made in another country but shipped and sold here in the USA.

• Import

• Export

• Domestic

When something is made in the USA but shipped and sold in another country

• Import

• Export

• Domestic

Applies to situations where we get and give through trade with countries from all over the world.

• Scarcity

• Standard of Living

• Globalization

Russia sells 50 tanks to the USA. The USA will get the tanks as an ______

• Import

• Export

One of the biggest factor that affects international trade is

• Country relationships with each other

• Global Warming

• Money

All business activites needed to create, ship, and sell goods and services across national borders.

• Trade Barriers

• Taxes

• International Business

Restrictions that reduce free trade among countries.

• Money

• Law Enforcement

• Taxes

Fruit

• Good

• Service

Haircut

• Good

• Service

Clothes

• Good

• Service