Chapter 4-3
Order by
4 terms
Terms | Definitions |
|---|---|
 free trade zone | designated area, usually around a seaport or airport, where products can be iported duty-free and then stored assembled, and used in manfacturing. Only when the product leaves the zone does the importer pay duty. |
| most favored nation status | allows a country to export into the granting country under the lowest customs duty rates. |
| free trade agreement | member countries agree to elimiinate duties and trade barriers on products traded among members |
| common market | members eliminate duties and other trade barriers, allow companies to invest freely in each member's country, and allow workers to move freely across borders. |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.