| Term | Definition |
|---|
| Global Economy | That all of the economies of countries are linked in the marketplace. |
| Exporting | The selling and shipping of products to another country. |
| Importing | Businesses that buy goods from other countries to sell in their own country. |
| Trade Barriers | Taxes, quotas, and other restrictions on goods entering or leaving a country. |
| Tariffs | Are taxes imposed by a goverment on imported or exported goods. |
| Gross Domestic Product (GDP) | Is the total value of all goods produced during the year. |
| Interpreter | A person that will translate the other person's language into English for you. |
| Standard Industrial Trade Classification Codes | A source that will help you locate the best market for your product or service. |
| International Business Exchange (IBEX) | You sell products and services online anywhere in the world. |
| Trade Missions | They give the small business owners the ablitity to meet and talk with forgein agents, distributors, or potential business partners. |
| "Best Prospect" List | This means it is a product that other countries are looking to purchase. |
| Disposable Income | That is money to spend after the necessary expenses are paid. |
| Export Management Company | These companies can handle all the tasks related to exporting for a manufacturer. |
| Freight Forwarder | Who will handle overseas shipments for a fee. |
| Joint Venture | A partnership created by two or more countries for a specific purpose over a set-period of time. |
Combine with other sets
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