Multinational Corporation
A firm that does service in countless countries and has facilities and also offices in numerous countries around the world.

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ImportsGoods and services that a country buys from an additional country.
ExportsGoods and services the one nation sells come another.
Exchange RateThe price at which one money can buy one more currency.
Balance of TradeThe distinction in the value between how lot a country imports and also how lot it exports.
ProtectionismThe exercise of putting boundaries on international trade to protect businesses in ~ home.
TariffA tax placed on imports to rise their price in the domestic market.
QuotaA limit placed on the quantities of a product that deserve to be imported.
EmbargoThe federal government decides come stop and import or violin of a product.

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Free TradeFew or no boundaries on trade with other countrie.
Trade disputeconflict over global competition
NAFTAtrade alliance in between the US, Canada and also Mexico
Foreign Exchange marketbanks where different currencies room exchanged
Currencythe united state dollar, peso, yen and also pound
domestic tradegoods and services that are bought and also sold in ~ the country
trade surpluswhen a nation exports an ext than that imports
trade deficitwhen a nation imports much more than that exports
trade alliancewhen several countries merge economic situations inot one substantial market and also to mitigate or eliminate borders on trade
international businessbusiness tasks needed because that creating, shipping and also selling goods and also services actoss nationwide borders
absolute advantageexists when a nation can produce a great or organization at a lower expense than various other countries
comparative advantagea case in i m sorry a country specializes in the manufacturing of a an excellent or company at which the is relatively an ext efficient
balance that paymentsthe difference in between the amount of money that comes into and the amoun to items that go out
infrasturcturerefers to a nation's transportation, communication and also utility system
trade barrierrestrictions to totally free trade with other countries
free-trade agreementsmember nations afree to eliminate duties likewise called import taxes and also trade obstacles on commodities trades among them
licensingallows companies to produce items in other nations without being proactively involved
franchisingallows institutions to go into into contracts v peopel in other countries to collection up a organization that looks and also rund favor the parent company
joint ventureallows 2 or an ext companies to share life materials, shippping facilitie, management activites or manufacturing activities
world profession organization150 countries, disclosure trade, settles trade disputes and enforces profession agreements