Term
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Definition
| Domestically produced goods and services sold in other countries. |
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Term
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Definition
| Foreign goods and services purchased by domestic customers. |
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Term
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Definition
| Difference between a nation's exports and imports |
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Term
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Definition
| Overall money flows into and out of a country. |
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Term
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Definition
Value of one nation's currency relative to the currencies of other countries. |
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Term
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Definition
| Tax imposed on imported Goods. |
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Term
| World Trade Organization (WTO) |
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Definition
| 149-member international institution that monitors GATT agreements and mediates international trade disputes. |
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Term
| North American Free Trade Agreement (NAFTA) |
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Definition
| Agreement among the United States, Canada, and Mexico to break down tariffs and trade restrictions. |
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Term
| Central American Free Trade Agreement (CAFTA) |
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Definition
| Agreement among the United States, Costa Rica, the Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua to reduce tariffs and trade restrictions. |
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Term
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Definition
| 25 - Nation European economic alliance. |
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Term
| Multinational Corporation (MNC) |
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Definition
| Firm With significant operations and marketing activities outside its home country. |
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Term
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Definition
| Offering a standardized, worldwide product and selling it in essentially the same manner throughout a firm's domestic and foreign markets. |
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Term
| Multidomestic Business Strategy |
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Definition
| Developing and marketing products to serve different needs and tastes of separate national markets. |
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Term
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Definition
A Country can maintain a monopoly in or produce a product at lower cost than any other competitor. |
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Term
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Definition
| A Basic systems of communication, trnsportation, and energy facilities. |
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Term
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Definition
| A Company sells a products abroad at a lower price its cost of production. |
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Term
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Definition
| A ban on importing a specified product or even a total halt to trading with a particular country. |
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Term
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Definition
| Administrative trade restriction. |
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Term
| General Agreement on Tariffs and Trade (GATT) |
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Definition
An international trade accord, sponsored a series of negotitations, called rounds, that substantially reduced worldwide tariffs and other barriers. |
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Term
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Definition
| Funds projects that build or expand nations' infrastructure such as transportation, education, and health systems and facilities. |
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Term
| International Monetary Fund (IMF) |
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Definition
| Makes short-term loans to member nations that are unable to meet their budgets. |
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