Across
- 3. buying products domestically that have been produced or grown in foreign nations
- 5. the opportunity of giving up the second-best choice when making a decision
- 6. contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production
- 9. when two or more companies join forces- sharing resources, risks, and profits, but not actually merging companies- to pursue specific opportunities
- 12. a permanent global institution to promote international trade and to settle international trade disputes
- 13. shortfall that occurs when the total value of a nation's imports is higher than the total value of its exports
- 14. shortfall that occurs when more money flows out of a nation than into that nation
- 15. an international organization of 188 member nations that promotes international economic cooperation and stable growth
- 16. overage that occurs when the total value of a nation's exports is higher than the total value of imports
- 18. limitations on the amount of specific products that one nation will export to another nation
- 20. the unrestricted movement of goods and services across international borders
- 23. a specialized type of foreign licensing in which a firm expands by offering businesses in other countries the right to produce and market its products according to sepcific operating requirements
- 25. limitations on the amount of specific products that may be imported from certain countries during a given time period
- 26. overage that occurs when more money flows into a nation than out of a nation
- 27. the benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries
- 28. a basic measure of the difference in value between a nation's exports and imports, including both goods and services
- 29. a voluntary agreement under which two or more people act as co-owners of a business for profit
- 30. a measurement of the value of one nation's currency relative to the currency of other nations
- 31. international trade that involves the barter of products for products rather than for currency
- 33. a measure of the total flow of money into or out of a country
- 34. the treaty among the United States, Mexico, and Canada that eliminated trade barriers and investment restrictions over a 15 year period starting in 1994
- 35. when firms either acquire foreign firms or develop new facilities from the ground up in foreign countries
Down
- 1. the world's largest common market, composed of 28 European nations
- 2. buying products domestically that have been produced or grown in foreign nations
- 4. authority granted by a deomestic firm to a foreign firm for the rights to produce and market its product or to use its trademark/patent rights ina defined geographical area
- 7. an international trade treaty designed to encourage worldwide trade among its members
- 8. a group of countries that have reduced or even eliminated tariffs, allowing for the free flow of goods among the member nations
- 10. a group of countries that have eliminated tariffs and harmonized trading rules to facilitate the free flow of goods among the member nations
- 11. an international cooperative of 188 member countries, working together to reduce poverty in the developing world
- 17. differences among cultures in language, attitudes and values
- 19. a country's physical facilities that support economic activity
- 21. the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources
- 22. national policies designed to restrict international trade, usually with the goal of protecting domestic businesses
- 24. an agreement between two or more firms to jointly pursue a specific opportunity without actually merging their businesses. Strategic alliances typically involve less formal, less encompassing agreements than partnerships
- 30. a complete ban on international trade of a certain item, or a total halt in trade with a particular nation
- 32. taxes levied against imports