Vocab pg. 71 Flashcards
the difference between the amount of money that comes into a country and the amount that goes out of a country
balance of payments
the difference between a country’s total exports and imports
balance of trade
an action imposed by the government to stop the import or export of a product completely
embargo
the value of a currency in one country compared with the value in another
exchange rate
goods and services sold to other countries
exports
goods and services bought from other countries
imports
factor that supports international trade in industrialized countries, including a nation’s transportation, communication, and utility items
infrastructure
unique business organized by two or more other businesses to operate for a limited time and for a specific project
joint venture
organization that does business in several countries
multinational company
government-set limit on the quantity of a product that may be imported or exported within a given period
quota
a tax that a government places on certain imported products
tariff
restrictions to free trade
trade barrier
