Globalisation Key terms

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Across
  1. 4. International organisation that oversees fair and free trade
  2. 7. The cost of the next best alternative foregone
  3. 9. Agreement signed by two countries on trade
  4. 10. Ratio of export prices to import prices
  5. 14. His theory is that of specialisation
  6. 16. Ricardo's theory of trade
  7. 17. A company that operates in more than one country
  8. 19. One with a common external tariff
  9. 21. Investment in one country into another
Down
  1. 1. An organisation the UK is not part of
  2. 2. Limit set on imports
  3. 3. One with free movement of people and capital
  4. 5. Group of countries with free trade between them
  5. 6. When a country takes advantage of comparative advantage
  6. 8. Measures to remove trade barriers
  7. 11. One where countries set their own tariffs on external members
  8. 12. An industry in decline
  9. 13. What the WO used to be called
  10. 15. An new industry that needs protection
  11. 18. Given to firms to lower production costs
  12. 20. Tax on imports