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Terms in this set (18)
the process by which businesses or other organizations develop international influence or start operating on an international scale.
Set policies that can open or close trade with countries.
Goods and Services sold to other countries
Goods and services purchased from other countries
The development of skills in a specific kind of work and being the best in that area and not other areas.
A country's ability to produce a product more efficiently than other countries.
The ability to produce a good at a lower opportunity cost than another producer.
A tax on imported goods
High enough tariff to protect less efficient domestic industries.
Embargos, inspections, licenses, nationalism, health concerns
People who want to protect domestic producers against outside the country competition.
individual who favors fewer or even no trade restrictions
World Trade Organization
International organization that regulates international trade.
1.) Protect trade goods/services to nations, 2.)help develop a country's economy, 3.)Protect individual ideas and methods from other nations
A trade agreement between European countries that have open trade available, open boarders, and one currency.
What is the biggest trade movement the U.S. is apart of?
Who are some trading partners with America?
Canada, Mexico, Europe, China, etc.
Who are some countries America doesn't trade with?
Russia, Iran, Afghanistan, North Kroea, etc.
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