Chapter 3

3. goods and services sold to other countries
8. a strategy that uses the same product and marketing strategy worldwide
9. the cost of using someone else’s money
13. a factor that supports international trade in industrialized countries including a nations transportation communication and utility systems
15. an action imposed by the government to stop the export or import of a product completely
16. a situation on which a country specializes in the production of a good or service in which it is relatively more efficient
17. items brought from other countries

1. accepted behaviors customs and values of a society
2. when a county can produce a good or service at a lower cost than other countries
4. a government set limit on the quantity of a product that may be imported or exported within a given period
5. the right to use a company name or business process in a specific way. It is the method often used to expand into other countries
6. an economy in which goods and services are produced the way they have always been produced. It is used in countries that are less developed and are not yet participating in the global economy
7. a selected area where products can be imported duty-free and then stored assembled or used in manufacturing
10. the value of a currency in one country compared with the value of another
11. restrictions to free trade
12. a situation in which a country imports more then it exports
14. a situation in which a country exports more than it imports
18. a tax that a government places on a certain imported produce