International Trade and Economics

Quotas

• Government-imposed limits on the quantity or value of goods that can be imported or exported.

• Voluntary agreements between countries to limit trade.

• Taxes imposed on imported goods to protect domestic industries.

• Subsidies provided to local businesses to encourage exports.

Purchasing Power

• The ability of a currency to buy goods and services.

• The total amount of money in circulation.

• The rate at which currency can be exchanged for gold.

• The value of a currency compared to another currency.

Exchange Rates

• The value of one country's currency in relation to another country's currency.

• The rate at which one currency can be exchanged for another.

• The difference in value between two currencies over time.

• The amount of goods that can be purchased with a specific currency.

Depreciation

• A decrease in the value of a currency relative to other currencies.

• An increase in the value of a currency relative to other currencies.

• A measure of the wear and tear of physical assets over time.

• A financial strategy to increase asset value.

EU (European Union)

• An economic and political union of 27 European countries.

• A military alliance of European nations.

• A cultural organization promoting European heritage.

• A trade agreement between the US and Europe.

Currency

• A type of investment vehicle

• The system of money used in a particular country.

• A method of exchanging goods

• A form of digital payment

Appreciation

• A decrease in the value of a currency relative to other currencies.

• An increase in the value of a currency relative to other currencies.

• A stable value of a currency against other currencies.

• A fluctuation in the value of a currency without a clear trend.

NAFTA (North American Free Trade Agreement)

• A trade agreement between the United States, Canada, and Mexico (now replaced by USMCA).

• A military alliance formed in the 1990s.

• An environmental treaty focused on climate change.

• A cultural exchange program between North American countries.

ASEAN (Association of Southeast Asian Nations)

• A regional intergovernmental organization comprising ten countries in Southeast Asia.

• A trade agreement between Australia and Southeast Asian nations.

• A cultural festival held annually in Southeast Asia.

• A military alliance formed during the Cold War.

Tariffs

• Taxes imposed on imported goods and services.

• Fees charged for domestic goods and services.

• Subsidies provided to local businesses.

• Duties on exported goods and services.