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occurs when a country has natural resources or talents that allow it to produce an item at the lowest cost possible
commercial exchange between nations that is conducted on free market principles, without restrictive regulations
used to increase the price of imported goods so that domestic products can compete with them
(WTO) World Trade Organization
a coalition of nations that makes rules governing international trade
(NAFTA) North American Free Trade Agreement
an international trade agreement among the United States, Canada, and Mexico
letting another company use a trademark, patent, specific formula, company name, etc. for a fee or royalty
involves hiring a foreign manufacturer to make your products, according to your specifications
changing an existing product and/or promotion to better suit the characteristics of a country or region
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