Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
15 Cards in this Set
- Front
- Back
Absolute Advantage |
The situation when a country can produce and sell a product at a lower cost than any other country or when it is the only country that can provide the product. |
|
Balance of Payments |
A summary of a country's international financial transactions showing the difference between the countries total payments too and it's total receipt from other countries. |
|
Balance of Trade |
The difference between the value of a countries exports and the value of its imports during a specific time. |
|
Buy Nation Regulations |
Government rules that give special privileges to domestic manufacturers and retailers. |
|
Contract Manufacturing |
The practice in which a foreign firm manufactures private label goods under a domestic firms brand name. |
|
Countertrade |
A form of international trade in which part or all of the payment for goods or services is in the form of other goods and services. |
|
Devaluation |
A lowering of the value of a nations currency relative to other currencies. |
|
Direct Foreign Investment |
Active ownership of a foreign company or of manufacturing or marketing facilities in a foreign country. |
|
Dumping |
The practice of charging a lower price for a product in foreign markets then in the firms home market. |
|
Embargo |
A total ban on imports or exports of a product. |
|
European Integration |
The delegation of limited sovereignty by European union member states to the EU so that common laws and policies can be created at the European level. |
|
European Union |
Trade agreement among 28 European nations. |
|
Exchange Controls |
Laws that require a company earning foreign exchange ( foreign currencies ) from its exports to sell the foreign exchange to a control agency such as a central bank. |
|
Exporting |
The practice of selling domestically produced goods to buyers in another country. |
|
Exports |
Goods and services produced in one country and sold to other countries. |