International Trade

2. When a currency becomes stronger; it buys more of another currency.
4. Advantage When a country can produce something at a lower opportunity cost than another country.
7. Rate The value of one currency compared to another.
10. Power How much goods and services money can buy.
12. Agreement A formal deal between countries that outlines rules for trade (e.g., USMCA).
15. Trade The exchange of goods and services between countries.
17. Goods or services sold to other countries.
20. Goods or services brought into a country from abroad.
21. Firms that bring goods into a country.
22. People who buy goods and services.

1. Firms that send goods to other nations.
3. When a country focuses on producing goods it can make the most efficiently.
5. Cost The next best alternative that must be given up when making a choice.
6. When a currency becomes weaker; it buys less of another currency.
8. Trade Trade without tariffs, quotas, or restrictions.
9. How efficiently goods and services are produced.
11. Businesses that make goods or provide services.
13. A limit on the amount of a product that can be imported.
14. Barrier A rule, tax, or policy that restricts international trade.
16. Advantage When a country can produce more of a product using the same amount of resources.
18. A government order that stops trade with another country.
19. A tax placed on imported goods.