A Company making, buying, and selling goods and services within a country
Business activities needed for creating, shipping, and selling goods and services across international borders
Occurs when a country can produce a good or service at a lower cost than other countries (usually due to a large supply of natural resources)
Occurs when a country chooses to specialize in the production of a certain good or service
Buying of goods and services produced from foreign countries
Selling of goods and services to foreign countries
The difference between a country’s total imports vs. total exports
When a country exports more than it imports
When a country imports more than it exports
The value of a currency in one country compared with the value in another
Are government imposed regulations that increase the cost and/or restrict the number of imported goods
A type of trade barrier, tax on imported goods
Prohibits the import or export of a product altogether
Government imposed restrictions on foreign trade due to inappropriate business practices
A government-imposed trade restriction that limits the number, or in certain cases the value, of goods and services that can be imported or exported during a particular time period
Where products can be imported into a country without additional fees (duties) paid on the import of the product.
Trading countries agree to remove duties and trade barriers on products traded between the two nations.
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