Business Chapter 3

2. the difference between a country's total exports and total imports.
6. selling the right to use some intangible property (production process, trademark, or brand name) for a fee or royalty
8. a factor that supports international trade in industrialized countries, including a nation's transportation, communication, and utility systems.
9. an action imposed by the government to stop the export or import of a product completely.
10. the making, buying, and selling of goods and services within a country.
13. the difference between the amount of money that comes into a country vs the amount that goes out.
14. goods and services sold to other countries
15. an agreement between member countries to remove duties and trade barriers on products traded among them.

1. a market in which member do away with duties and other trade barriers.
3. a unique business organized by two or more other businesses to operate for a limited time and for a specific project.
4. a tax that a gov't places on certain imported products.
5. a gov't set limit on the quantity of a product that may be imported or exported within a given period.
7. an organization that does business in several countries.
11. a situation where a country can produce a good or service at a lower cost than other countries
12. restrictions to free trade