Home > Flashcards > Marketing > intl. Trade chptr. 6

Details Title: intl. Trade chptr. 6 Description: global marketplace Total Flash Cards: 12 Created: 02/13/2007 04:50:45	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term imports Definition goods and services purchased from other nations Term international trade Definition exchange of goods and services between nations Term exports Definition goods and services sold to other countries Term absolute advantage Definition occurs when a country has special natural resources or talents that allow it to produce an item at low cost Term comparative advantage Definition the value a nation gains by selling the goods it produces most efficiently Term balance of trade Definition differnce in value between exports and imports of a nation Term tariff Definition tax on imports Term quota Definition limting the quantity or the monetary value of a product that may be imported Term embargo Definition a total ban on specific goods coming into and leaving a country Term WTO(world trade organization) Definition a global coalition of 135 governments that makes the rukles governing international trade Term NAFTA(NORTH AMERICA FREE TRADE AGREEMENT Definition an international trade agreement among the u.s., Canada, and Mexico Term EU(eUROPEN uNION) Definition TERM FOR EUROPE'S TRADING BLOC