Across
- 2. ___________licenses, Rights, issued by a government, to import goods.
- 4. Industries that are at an early stage of development.
- 6. The North American Free Trade Agreement
- 7. _________ of trade: The rate at which units of one product can be exchanged for units of another product
- 8. __________ pricing, A pricing scheme under which a firm decreases the price to drive rival firms out of business and increases the price when rival firms leave the market.
- 10. A tax on imported goods.
- 13. Firms producing components of their goods and services in other countries.
- 14. An organization established in 1995 that oversees GATT and other international trade agreements, resolves trade disputes, and holds forums for further rounds of trade negotiations.
Down
- 1. ___________possibilities curve: A curve showing the combinations of two goods that can be consumed when a nation specializes in a particular good and trades with another nation.
- 3. General agreement on tariffs and trade: An international agreement established in 1947 that has lowered trade barriers between the United States and other
- 5. __________ quota, A government-imposed limit on the quantity of a good that can be imported.
- 9. A situation in which the price a firm charges in a foreign market is lower than either the price it charges in its home markets or the production cost
- 11. ____________export restraint (VER): A scheme under which an exporting country voluntarily decreases its exports
- 12. ___________discrimination, The process under which a firm divides consumers into two or more groups and charges a different price for each group buying the same product.