Ch.4 Key Terms

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Across
  1. 2. A situation in which a country pays more for its imports than it earns from its exports
  2. 4. Controls, other than tariff barriers, to restrict or deter the importing of goods and services
  3. 5. A transaction in which the production and sale of an item occur within the same country
  4. 6. The exchange of goods and services among people in different countries throughout the world
  5. 7. A process of developing land, cities, businesses, and communities that meets the needs of the present without compromising the needs of future generations
  6. 8. Hidden costs of doing business that have a negative impact on people or the environment
  7. 11. An effort by a country to protect its domestic industry by increasing the cost of imported goods
  8. 12. A trade agreement that was originally signed by 23 nations after World War II. It was designed to encourage economic growth through international trade and grew to 115 member states before it was replaced by the World Trade Organization in 1995
  9. 13. The sum of a country’s way of life, beliefs, and customs
  10. 15. An amount added by a country to the cost of an imported product. The duty is usually a percent of the price of the product, depending on the tariff of the country
  11. 16. The principal international organization that deals with the rules of trade between nations. It was created in 1995 and replaced the General Agreement on Tariffs and Trade (GATT)
  12. 18. A group of countries that share the same trade interests
  13. 21. the practice of helping producers in developing countries bypass expensive middlemen, so they can sell their goods in other countries for a fair profit.
  14. 24. A transaction in which the production and sale of an item take place in different countries
  15. 25. The relationship between a country’s imports and exports
  16. 27. The phenomenon that occurs when many items consumers needs and wants are created in countries other than their own
  17. 28. Creating, shipping, and selling goods and services across national borders
  18. 29. A trade agreement that came into effect in January of 1989, and was replaced by NAFTA in 1994
Down
  1. 1. The UN specialized agency that seeks the promotion of social justice and internationally recognized human and labour rights
  2. 3. Companies that operate in several countries
  3. 9. The relocation of some of a company’s operations to another country
  4. 10. An association of the world’s most powerful industrialized nations: Britain, France, Germany, Italy, Canada, the United States, and Japan.
  5. 14. An agreement among Canada, the United States, and Mexico to allow freer trade among the three countries, which came into effect on January 29, 2020
  6. 17. The consumption of natural resources faster than nature can replenish them
  7. 18. An agreement between countries to allow goods and services to flow more freely across their borders
  8. 19. The actual cost for an imported purchased item, composed of the vendor cost, transportation charges, duties, taxes, broker fees, and any other charges
  9. 20. A standardized item offered in the same form in all the countries in which it is sold
  10. 22. A comprehensive economic and trade agreement between Canada and the European Union signed in 2016.
  11. 23. A situation in which a country pays less for its imports than it earns from its exports
  12. 26. A list or schedule of the percent of the product price to be charged as customs duty