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The exchange of goods and services among nations. |
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| Are goods and services purchased from other countries |
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Goods and services sold to other countries
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| Positive balance of trade or trade surplus, occurs when nation exports more than it imports |
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| Commercial exchange between nations that is conducted on free market principals without restrictive regulations |
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| Tariff (sometimes called a duty) |
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Limits either the quantity or the monetary value of a product that may be imported
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| Is a total ban on specific goods coming into and leaving a country |
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| It's a government's establishment of economic policies that systematically restrict imports in order to protect domestic industries |
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| World trade organization (WTO) |
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| Is a coalition of nations that makes rules governing international trade |
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| North America free trade agreement(NAFTA) |
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| International trade agreement among the United states, Canada, and Mexico |
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| Europe's trading bloc. In 1992, the Maastricht |
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| Involves letting another company (licensee) use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty |
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| Involves hiring a foreign manifest manufacturer to make your products, according to your products |
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| A business enterprise that companies set up together |
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| Foreign direct investment |
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| Establishment of a business in a foreign country |
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| Large corporations that have operations in several countries |
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| Are midsize or smaller companies that have operations in foreign countries |
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| Selling the same product and using the same promotion methods in all countries |
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| Company's use of an existing product a and/or promotion to which changes are made to better suit the characteristics or a country or region |
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| Involves creating specially designed products or Promotions for very certain countries or regions |
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