1) Globalization is the connection made among nations when economies freely move goods, labor, and money across borders. 2) International business is the buying and selling of goods and services across national borders. 3) International business is also known as international trade or world trade. 4) Domestic business is all the business activity involved in making, buying, and selling product within a nation’s borders. 5) Exports are goods and services that are produced within a country’s borders and sold in another country. 6) Imports are goods, services, and capital that are brought into a country from outside its borders. 7) Absolute advantage exists when a country can produce goods more efficiently and at a lower cost than another country. 8) Comparative advantage exists when a country specializes in producing a product at which it is relatively more efficient. 9) A trade barrier is any government action taken to control or limit the amount of imports. 10) An embargo is a government order that prohibits trade with a foreign country. 11) Trade sanctions are embargoes that affect only certain goods. 12) A tariff is a governmental tax on imported goods. 13) A quota is a limit on the amount of a product imported into a country during a specific period of time.

International Trade Terms

بواسطة
تضمين

لوحة الصدارة

النمط البصري

الخيارات

تبديل القالب

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