trade between different regions or countries

foreign goods shipped into a country or region

goods produced in one country, then shipped to another region or country

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

country’s total amount of exports minus the total amount of imports

comparison of amounts of foreign currency taken into a country versus amounts of domestic currency paid out

rate at which one currency may be converted into another; used when world trade occurs

fixed limit on the amount of import/export of a product set when trading with another country

special tax placed on foreign goods sold in the United States

method used to stop the shipment of certain products to and from a particular country for economic or political reasons