Unit 3 Topic 3 Vocabulary

3. a good or service that is produced in one country and sold to buyers in another country
8. an economic or political restriction placed by one or more countries on another country as punishment for not complying with international law or policy
9. trade between countries with few or no restrictions
11. an economy in which most activity is focused on providing services rather than manufacturing physical goods
13. a nonprofit organization that functions independently of governments
14. the ability of a country to produce a good or service at a lower cost relative to other products than other countries can
16. the buying and selling of goods
18. a nation with an exceptionally great ability to project its economic, political, and military influence worldwide
19. an organization through which multiple countries’ governments coordinate their activities in some areas of policy

1. a conflict fought with the support of other, usually more powerful countries that do not themselves take part in the fighting (60)
2. focused on protecting a country’s domestic industries and producers by restricting foreign competition
4. a tax on goods imported to or exported from a country
5. a good or service that is bought in one country after being produced in another country
6. the process of developing increasingly integrated economic, technological, and cultural connections among people and countries worldwide
7. assistance given by one country to another in the form of money, goods, or credit
10. a legal prohibition on doing business or conducting trade with a certain country
12. in trade, a restriction put in place by a government to limit the quantity or value of goods that a country can export or import during a specific time period; in immigration, the number of immigrants who may be admitted into a country annually (54)
15. the set of laws that countries recognize in their dealings with one another
17. having authority that transcends individual national governments